NED collabs with NCCPL to develop smart cybersec solution for financial systems

Students of the National Center for Cybersecurity (NCCS) at the NED University of Science and Technology, Karachi, collaborated with the National Clearing Company of Pakistan Limited (NCCPL) to develop an AI-based cybersecurity system which can detect suspicious activity in financial transactions with a very high degree of accuracy.

Termed the Security and Threat Intelligence Platform, the smart system has integrated threat intelligence, behavioral monitoring, asset discovery, smart intrusion detection, and vulnerability assessment models.

Once it is deployed in financial systems, the platform highlights suspicious outliers and serves as a firewall against a host of cyber threats, including cyber theft, ransomware, and spyware attacks.

The Security and Threat Intelligence Platform was reportedly developed within a year and is easily customizable according to a range of business needs and requirements. It was demonstrated during a cybersecurity seminar organized by NED on Tuesday.

Turkish Consul General Karachi, Tolga Ucak, Chairman NCCPL, Humayun Bashir, Vice-Chancellor NED University, Prof. Dr. Sarosh Hashmat Lodi, CEO NCCPL, Muhammad Lukman, CEO Pakistan Stock Exchange (PSX) Farrukh Khan, Managing Director (MD) Jaffer Business Systems, Veqar-ul-Islam, and other acclaimed IT industry professionals attended the seminar.

While addressing the seminar, Tolga Ucak lauded the efforts of NCCS and NCCPL towards in development of the AI-based software and said Pakistan is taking giant strides towards becoming self-reliant in cybersecurity in this age of cyber warfare.