Spanish bank CaixaBank joins the European Security Certification Framework (EU-SEC) cybersecurity project which is being funded by the European Union.
The bank joins eight other international institutions and companies which includes financial sector and public administration experts, technological researchers, cloud providers, auditors and cybersecurity experts.
A research team has been created, consisting of 25 professionals of 11 different nationalities. The project will last three years and will have €3m invested to support its operations.
Work from the group will be focused on creating a European framework for the ongoing certification of security in cloud environments. By establishing a European certificate standard, it would enforce requirements across member countries and provide better access to new markets for technology providers, the group claims.
Banking and public administration are expected to have the most impact from a certificate. As a result, the group is being split into two workforces, one which is led by CaixaBank and will focus on finance and one which is aimed at public administration and is supported by the Slovenian and Slovakian governments.
In addition to this, the international organisation specialising in cloud technolgoy Cloud Security Alliance. Cloud infrastructure provider Fabasoft, university research centre Fraunhofer, auditors Nixu Cibersecurity and PriceWaterhouseCoopers, and technology company SixSq have also participated in the EU-SEC.
Copyright © 2018 RegTech Analyst
