AfrAsia Bank Strengthens Network & Attack Surface Security with Cutting-Edge Self-Learning Cyber AI Platform

In 2023, the growing recognition of AI, particularly OpenAI and ChatGPT tools and applications, has shed light on the advantages and implications for both cyber attackers and defenders. The utilisation of AI-based tools, such as ChatGPT, is expected to amplify the automation, effectiveness, speed, and resilience of attacks, posing challenges for defence mechanisms. This incorporation of AI into the realm of threats enables criminals to execute personalised attacks, scale their campaigns up, and potentially lower barriers to entry in certain scenarios.

While further advancements are anticipated in the upcoming months, one thing remains evident: defenders must persist in investing in cybersecurity alongside partners who possess extensive experience in the field of AI and have leveraged the power of data science to safeguard their clients against sophisticated attacks.

We are pleased to announce that our existing customer, AfrAsia Bank, has taken additional proactive steps by continuing to collaborate with Grove, along with one of our leading next-generation cyber AI partners, Darktrace. This strategic partnership equips the Bank with a robust 24/7 Network Detection and Autonomous Response (NDAR) solution, supplemented by comprehensive attack surface management (ASM).?

About AfrAsia Bank?

Headquartered in the vibrant Mauritius International Financial Center since 2007, with a representative office in South Africa, AfrAsia Bank specialises in banking that bridges Africa, Asia and the World.? The Bank adopts an entrepreneurial approach to deliver flexible financing and investment solutions tailored to the needs of their private and corporate clients.?

Today, AfrAsia Bank serves clients in more than 160 countries, is ranked 3rd in terms of total assets in the local banking sector as recognised by? the TOP 100 Companies in Mauritius and is categorised as a Domestic Systemically Important Bank. Upholding a key focus on customer service excellence through innovation and teamwork, AfrAsia has been internationally-acclaimed as the *Best Private Bank and Best Bank in Mauritius by the Digital Banker/Global Private Banker and EMEA Finance in 2021 and 2022. Recently they won the “Best FX Bank in Mauritius” in March 2023.

AfrAsia Bank’s Cyber Security Journey

The? journey of AfrAsia Bank attests to the fact that to maintain a competitive stance and be an industry forerunner, one has to continually innovate alongside strategic cybersecurity solution providers in the industry.? The Bank continues to achieve key milestones on its cyber security journey with Grove, a leading cyber security provider and the global Darktrace Partner of the Year for 2022, 2021 and 2022.?

Atish Gungadur - Head of Information Technology Security at AfrAsia Bank shared his positive experience, stating: “We decided to deploy the Darktrace DETECT?, RESPOND? and PREVENT? products to help improve our cybersecurity posture at the Bank. The process, both during the installation and rolling out to full production, has been highly efficient and our team is thoroughly pleased with the outcomes. I was expecting this project to be completed in 5 months but it was done in about half of this time, far exceeding our expectations. We were also able to report excellent results from the product since initiating the free Proof of Value and then deploying the products into live production.

Darktrace PREVENT reduces cyber risk by prioritising vulnerabilities and hardening your defences.

The Darktrace PREVENT suite is an interconnected set of AI products that deliver proactive cyber security to help organisations preempt future cyber-attacks. The product family empowers the CISO and security staff to become an AI-powered Red Team, simulating attacks, identifying critical assets, and testing pathways of vulnerability, then shoring up defences to prevent attackers from reaching vital systems and data.

PREVENT/Attack Surface Management (PREVENT/ASM) gives unparalleled visibility into the parts of your organisation that are exposed to the outside world – allowing your security team to proactively identify risks before an attack takes place. The Bank has chosen the PREVENT/ASM module as a stepping stone into the Darktrace PREVENT suite.?

Are you ready to embark on a sophisticated cyber security journey?

If you are concerned about the levels of sophisticated cyber-attacks on your company, the Grove and Darktrace are more than willing to talk to you on how to embark on this journey.?

"We are delighted to embark on this partnership with AfrAsia Bank, taking their cybersecurity journey to new heights. By leveraging Darktrace's cutting-edge AI-powered solutions, such as the Network Detection and Autonomous Response (NDAR) system and comprehensive attack surface management (ASM), we are confident in bolstering AfrAsia Bank's cyber resilience. This collaboration presents an exciting opportunity to harness the power of data science and AI in safeguarding the financial industry against ever-evolving threats. Together, we will forge ahead, staying one step ahead of sophisticated attacks and ensuring the protection of AfrAsia's valued clients." Jonty Koekemoer, Commercial Director at Darktrace Africa.?

“As a Darktrace Partner of the Year (2020,2021 and 2022), Grove is excited to deepen our partnership with Darktrace so we can continuously help our customers mitigate the latest cyber-attacks using one of the most powerful tools on the market. As a preventative measure, Grove advises its global customers to venture beyond the use of “old paradigm rules and signature-based cyber tools” to protect themselves. Today, it’s recommended that customers add AI and ML based cybersecurity tools to ‘fight fire with fire’. This will allow companies to have a better chance of fending off these advanced cyber-attacks as AI offers an “always on & continuous learning mode” of prevention”, emphasises Chad Bartlett, Director of Partnerships at Grove.

Grove is also the leading managed services partner offering our global Darktrace customers across 30 countries a 24/7 Proactive Threat Monitoring service option delivered through the Grove dSOC team.