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.

“We are investing heavily in new technologies, including in artificial intelligence, machine learning, big data and the blockchain, in order to enhance the protection of our customers’ data,” notes Thierry Olivier, Head of Information Systems Security

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.

Fighting cybercrime with big data and machine learning

Banking Cybersecurity Innovation Awards

The Banking CyberSecurity Innovation Awards are the first awards aimed at startups and innovative SMEs in the field of cybersecurity and digital confidence. More then 40 startups and SMEs from Europe participated to this first edition. The 3 winners were announced on 5 July : Alsid in the “Digitial Confidence for the Bank” category, Skeyecode in the “Digital Confidence for Customers” category and Sqreen in the “France special” category.

Go to the website of the awards

Enhanced security thanks to the dynamic crypto code

Banking fraud is increasing at a growing rate every day (more than 410 million fraudulent payments were made in 2015). This new technology offers maximum security for online purchases, which today account for more than 700 million banking transactions. How does it differ from the traditional bank card? The three numbers of the cryptogram are replaced by an integrated screen which shows a new code every hour. The data therefore becomes obsolete and cannot be used again, providing more reassurance and protection for clients.

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Blockchain finance: neither mirage nor reality

"Marrying new Blockchain concepts with the financial world requires the development of underlying technologies able to cope with the constraints of financial activities, notably the levels of performance and privacy as well as the amount of regulatory information required." Christophe Van Cauwenberghe, Head of Payment Innovation, shares his views of the Blockchain.

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Cybersecurity of Critical Infrastructures Chair

A true task force, the Institut Mines-Télécom Cybersecurity of Critical Infrastructures Chair has welcomed Societe Generale as a corporate partner. “In joining this Chair, Societe Generale seeks to ensure it will have the necessary means to support the digital transformation”, explains Nicolas Bourot, Chief Information Security Officer and Operation Risk Manager for the Group’s infrastructures.

Read the press release