New technologies for stronger cybersecurity
Societe Generale has accelerated its digital transformation and considers the development of new technologies to be a major opportunity to better serve its clients. Nonetheless, the threat of cybercrime and related incidents continues to rise and major attacks on an ever larger scale are impacting firms with increasing frequency.
To meet these challenges, Societe Generale invests in data security and banking secrecy compliance on an ongoing basis to enhance the protection of its customers’ assets and their transactions. Societe Generale’s security strategy for its IT systems covers five key areas: the security of sensitive Group applications, the security of all customer banking information and personal details, Group detection and response capacities, strengthening the security we provide to customers (with robust but easy-to-use tools such as dynamic security codes on our bank cards), and raising awareness among customers and employees and providing them with support.
Meeting today’s security challenges requires openness and co-creation in the use of new technologies. For example, machine learning is used to detect fraudulent bank card transactions. Societe Generale and Wavestone have launched the Banking CyberSecurity Innovation Awards, which are open to cybersecurity startups – a first in the European banking sector. In addition, the Societe Generale Computer Emergency Response Team (CERT) has established a strong partnership with France’s National Cybersecurity Agency (ANSSI). Lastly, Societe Generale’s Cybersecurity Hub is a centre of expertise that focuses on cybersecurity solutions with the aim of supporting the digital transformation of the Group’s businesses.