The European Union’s Network and Information Security (NIS) directive is the first piece of EU-wide cybersecurity legislation. It ensures cybersecurity oversight of systems fundamental to the functioning of society. With a focus on the finance sector – which is the most attacked industry, and as such has the most regulations to comply with – the SOTER project will create tools to tackle future cyberattacks and vulnerabilities. These tools will improve the interconnections between different service providers and users and help identify the level of cybersecurity that exists. This will reinforce trust in their information and communications technology products, services and processes.
SOTER Project's Objective
The Digitalization Era implies many advantages for businesses and citizens. However, new threats arise, especially in what concerns data privacy and the use of digital identities. These threats must be tackled under a holistic approach and pointing at their different origins, including the human factor. The European Union is reinforcing the legal framework to contribute to this need, including important requirements to be fulfilled, especially in the context of critical sectors identified under the NIS Directive. Finance is one of them, actually the most restrictive, because of the number of regulations to comply with. This makes finance the perfect scenario for testing tools, before transferring the results to other sectors. That is why SOTER is mainly focused on it, aiming at providing a comprehensive set of tools that will act as a transformative process of the finance sector, helping their players to increase their cybersecurity level, enabling the fight against present and future cyberattacks and vulnerabilities. The results will then increase their cyber-resilience.
SOTER main results will be: SOTER Digital Onboarding Platform (the technology tool to provide a robust and sovereign digital identity, facilitating the interconnections between different services providers and the users), improved by the use of blockSOTER will offer tools that are able to determine the level of cyber security that exists in a certain entity, to improve if that is the case. We intend to get this through a comprehensive risk analysis to create contingency plans and direct action measures that can mitigate threats and security attacks.
In the case of the finance sector, the SOTER project propose to test and analyze a cloud platform of Digital Onboarding with two main features:
• use of technologies blockchain
• innovative systems of biometric identification of users
Derived from this, training actions for end users will be generated so they are able to detect and deal with this type of threats.
Read more details on the SOTER dedicated page and find out more about the latest update, project results and benefit to its end-users.
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