February 28, 2024

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Safeguarding Gen AI Capabilities: Advanced Cybersecurity for an Enhanced Customer Experience

A Platform For Collaboration

OpenGov Asia is pleased to invite you to an exclusive OpenGov Breakfast Insight which will take a deep dive into cutting-edge security capabilities and the most recent IT automation powered by AI to enhance customer experience.

Meet Our Distinguished Speakers

Dr Ashish Chandra
Head of Technology Innovation and Group Functions
Standard Chartered Bank

Saranga Rajan
Associate Vice President & Head of BFSI, Endpoint Security
HCLSoftware

Mohit Sagar
CEO & Editor-in-Chief
OpenGov Asia

Exploring Automation and Critical Security Patch Compliance Practices

Vulnerability remediation and effective patch management are key to ensuring the IT environment is secure and protected against cyberattacks. Research has shown that unpatched well-known vulnerabilities and delays in remediation increase cybersecurity risks, fostering data breaches and ransomware attacks.

Patch automation is crucial in today’s fast-paced and highly complex IT hybrid environment. As the number and complexity of software applications continue to grow, it becomes increasingly difficult for IT teams to keep up with the volume of patches and updates that need to be applied. This challenge is particularly critical for financial institutions facing cyber threats due to the sensitive financial and personal information they hold.

Furthermore, automated patching processes play a vital role in mitigating these risks, ensuring that all systems are consistently updated with the latest security patches per regulatory compliances. This automation streamlines and automates the patching process, significantly increasing efficiency.

The regulatory body recommendations require banks and other financial institutions to have a robust patch management policy in place to ensure patch compliance. The guidelines specify that financial institutions must:

  1. Establish a formal process for patch management (pre-patch and post-patch), including the identification, testing, and deployment of patches.
  2. Ensure that all operating systems, databases, middleware, and 3rd party applications are regularly updated with the latest security patches.
  3. Conduct regular vulnerability assessments and penetration testing to identify vulnerabilities that require patches. Automatically correlate the most appropriate remediation action based on prioritised vulnerabilities.
  4. Ensure that patches are deployed promptly, particularly for critical and high-risk vulnerabilities.
  5. Establish a process for tracking and reporting patch compliance to senior management and the board of directors.
 

Failure to comply with the Regulatory body guidelines on patch compliance can result in regulatory sanctions, fines, reputational damage, and exposure to cyberattacks and data breaches.

Prioritisation: Key to Remediation

In the ever-evolving landscape of cybersecurity threats, organisations face the formidable challenge of identifying, assessing, and mitigating vulnerabilities in their systems, making it imperative to establish an effective prioritisation framework. However, the current vulnerability prioritisation process within our organisation lacks a systematic approach, resulting in suboptimal allocation of resources and exposure to high-impact security risks.

As a result, this leaves financial institutions with considerable impacts, including:

  1. Lack of Comprehensive Criteria: The absence of clear criteria for prioritisation leads to a reactive response to threats, hampering proactive measures.
  2. Resource Constraints: Limited resources are not efficiently allocated due to the current approach’s failure to consider criticality and potential impact.
  3. Inadequate Integration of Threat Intelligence: The process lacks real-time threat intelligence, leaving the organisation vulnerable to actively exploited vulnerabilities.
  4. Static Assessment Methods: Relying on static assessments contributes to a stagnant prioritisation model, necessitating dynamic and adaptive methods.
  5. Absence of Business Impact Consideration: The process overlooks the potential business impact, increasing exposure to risks with significant consequences.
  6. Limited Collaboration Across Departments: Siloed communication hampers a holistic understanding, hindering alignment with overall business objectives.
  7. Vulnerability Prioritisation Framework to Mitigate Challenges
 

To address these challenges, there is a need to implement a robust and adaptive vulnerability prioritisation framework, which should encompass comprehensive criteria, consider resource constraints, integrate real-time threat intelligence, employ dynamic assessment methods, factor in business impact, and encourage collaboration across departments. The goal is to establish a proactive and risk-aware approach to vulnerability management that minimises exposure to potential security threats.

AI to Enhance Helpdesk and Improve Productivity

Organisations face significant challenges in their daily IT operations amid the surge in digital business transformation. This transformation leads to the proliferation of new applications, services, and tools intensifying the complexity of digital assets. In the current landscape of helpdesk operations, several challenges compromise overall productivity.

From an IT operation perspective, service desks bear a substantial burden in addressing a rising number of queries, requests, incidents, service tasks, and change request tasks. In cases where automation exists, it might be confined to silos, lacking reusability and standardisation across teams. Additionally, the absence of robust knowledge management results in the loss of valuable tacit knowledge, exacerbated by high employee attrition rates. This reliance on human expertise introduces inconsistencies and variabilities in operational quality due to potential human errors.

Moreover, the helpdesk ecosystem lacks advanced AI solutions, contributing to prolonged response times, overwhelming agents with repetitive tasks, and an overall suboptimal customer experience.

How Will This Session Help?

Organisations find it difficult to remediate vulnerabilities with speed. The gap in objectives, tools, and processes of security and IT operations results in critical vulnerabilities not being addressed quickly enough to protect the enterprise.

HCL BigFix is extending its remediating capabilities, allowing users to proactively secure the enterprise faster than ever. BigFix CyberFOCUS Security Analytics is a set of security capabilities designed to help IT Operations collaborate with Security Operations to PRESCRIBE the most effective remediation strategies, PROTECT against exploits, and PROVIDE better cybersecurity.

OpenGov Asia is pleased to invite you to an exclusive OpenGov Breakfast Insight which will take a deep dive into cutting-edge security capabilities and the most recent IT automation powered by AI to enhance customer experience.

This session will explore:

  • BENEFITS that organisations will enjoy through the power of continuous compliance and intelligent automation thanks to the endpoint management platform
  • METHODS for supplying robust security to protect the operations and improve customer experience
  • STEPS to increase operational efficiency using BigFix 11
  • WAYS to employ effective remediation strategies and enhance cybersecurity with BigFix CyberFocus Security Analytics

Who Should Attend

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National Environment Agency

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PARTNER

HCLSoftware, a division of HCL Technologies,  develops, markets, sells, and supports 30 plus software product families in the areas of Enterprise Security, Digital Transformation, Data, Analytics & Insights, AI & Automation platforms. HCL Software is the cloud-native solution factory for enterprise software and powers millions of applications at more than 20,000 organizations, including more than half of the Fortune 1000 and Global 2000 companies. HCL Software’s mission is to drive ultimate customer success with its IT investments through relentless product innovation. 

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.