SIMPLE Banking Part 2
Bear Systems is building on its next generation cybersecurity platform to provide a range of SIMPLE (Secure Integrated ML Platform Leveraging Expertise) solutions for the world’s most pressing needs. This blog entry is one of a series of introductions showing how Bear can provide a SIMPLE solution for specific vertical challenges.
In a prior blog post, I discussed the world of Banking and the various challenges facing it with a focus on compliance and regulations. In this blog post, we are going to focus on another core aspect of financial systems and that is the actual transaction process. In most financial systems, billions of transactions occur constantly with money leaving one account and entering another. Rarely are these exchanges simple as a number of rules often split a given transaction into multiple components, external controls leverage options such as fees and taxes and dynamic inputs such as exchange rates result in vastly different outputs.
As IT systems grew, financial transaction systems moved from older mainframe computing models into…new mainframe computing models. Instead of having a single powerful computer, the mainframe has been replaced with a grid of servers that can be swapped out on demand without disruption. Higher level management software handles the assignment of specific discrete exchanges to different resources. If this sounds familiar, that is because cloud systems are based on these same types of core configurations.
The challenge with these systems is comprised of scale, complexity, and mobility. Simply put, there are too many devices running under too many rules in too many locations to be handled centrally. While efforts to move towards geographically disperse cloud systems has enabled continuity, the end of this model is close at hand.
On top of these issues, there is the reality that nothing inside these systems is actually protected. Modern cybersecurity options are just too slow to handle the speed of these transactions, offer no true benefits that cannot be derived from outside protection, and you will not find any such tools sitting in these grids. While this approach worked for a long period of time, modern financial grids are comprised of devices that have too many communication options and protection at the perimeter has clearly failed. Moreover, there is a massive shift away from these monolithic central systems into more distributed monolithic central systems (see what I did there?) and those communications are not being protected as they need to be.
SIMPLE Banking provides the solution required to overcome these issues without interfering with current systems. SIMPLE Banking starts by being added to the current grids of servers and can both lock down those endpoints and protect their communications at the scale of these billions of transactions. SIMPLE Banking can not only protect communications within a grid but also provides its quantum resilient communications security between financial systems. Even at this level, the security concerns surrounding financial processing is resolved as there is no way to intercept communications, spoof into a given system and, in any known way today, compromise SIMPLE Banking security.
SIMPLE Banking also provides a sophisticated machine learning (ML)/AI-driven policy-based system that can securely push transaction processing to the edge. Policies in SIMPLE Banking are actually captured behaviors and not glorified configuration files. Lookups, dynamic inputs, and even predictive algorithms can all be leveraged to make qualified, blockchain secured, transactions on any device, in any environment, in a manner that is highly protected and that meets all regulatory requirements.
With SIMPLE Banking, truly distributed financial transaction systems can be achieved in a manner that pushes these exchanges out to a wide range of edge devices without compromising protection or level of service. There is obviously more, much more, to our SIMPLE Banking solution and, if you are interested, please contact us to learn more!