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Information risk assessment and security framework development
 
 
The client
The customer is a leading provider of flexible and efficient financial solutions for individuals and companies in Europe, Hongkong and Middle East. They offer highly competitive products, including pensions, investments, offshore investments and mortgage repayment plans. The customer company is now part of a large Financial Services and Banking Group in United Kingdom.
 
The challenge

The customer wanted to evaluate the information security risks involved in the first release of the large shared services integration program being undertaken by the group. In the second release, they wanted to validate security arrangements for the proposed environment.

Since Information Security Assessment during the first release had highlighted high level risks in user authentication and messaging areas, these had possibilities of getting further accentuated with the next release of the program. The customer approached Wipro to carry out a risk analysis, develop a security framework and validate the security mechanisms before the planned release went live.

 
The solution
A tactical Security Framework was developed, which was evolved through the following phases:
Understanding information systems environment and components of the second release
Analyzing the impact of the changing environment on security of the information systems
Evaluating the feasibility and practicality of alternative solutions
Identifying and validating security gaps
Discussing and validating proposed solutions with customer architects and solution authorities

The considered alternative solutions were as follows:
Modifying the existing application for authentication and password synchronization to Windows NT & Mainframe
Developing new applications with the same functionality
Deploying available products

Wipro then developed a security framework documenting the pros and cons of alternative approaches and design of the recommended solutions. Relevant changes were incorporated in the second release design to ensure security before going live.
 
Business benefits delivered
Wipro's risk analysis program identified security gaps and recommended alternative solutions to enable

Cost Savings: Wipro delivered a solution which helped the customer to implement a security layer in the organization with lower cost and effort

Customer Satisfaction: Wipro helped highlight to the management the levels of security required to be practiced and also enhanced security awareness amongst employees in the customer company

Timeliness: Wipro delivered the solution within the stringent timelines for the release


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