Singapore, 17 August 2022 - Anticipated as the cornerstone of all upcoming digital banks in Malaysia, Bank Islam launched Be U, a fully cloud-native digital banking application, on 18 July 2022, targeted at the digital-native, younger generation. Horangi, a leading cloud security solutions and services firm based in Singapore, was a significant part of that journey with Bank Islam by providing its flagship cloud security platform, Warden, for Be U’s launch.
Bank Islam deployed AWS for their infrastructure and initially used the native tools that are included with AWS for cloud security monitoring. To augment the native tools and fill up the gaps in their security posture, Bank Islam chose Horangi Warden to overcome identified challenges that would help them achieve a faster go-to-market launch.
Warden is a multi-cloud security product that provides ongoing security and compliance monitoring of public cloud infrastructures like AWS, GCP, Azure, Huawei, and Alibaba Cloud. With an average of USD 5.97 million in data breach costs, financial institutions are in the top two industries with the highest average, according to IBM’s Cost of a Data Breach Report 2022. With Warden, users can improve their security posture within minutes of setup and showcase defensible security and compliance of their public cloud infrastructure against regulatory frameworks such as MAS-TRM from Singapore and BNM-RMIT from Malaysia.
“Compliance and regulations play a vital role in safeguarding a customer's information. It is even more critical when a Fintech organization wants to market with a cloud-native digital banking app like Be U. Horangi aims to enable more organizations and help Fintech in its compliance journey. Be U's launch is a testament to show that Horangi Warden continues to rise to the challenge, meeting and exceeding these urgent needs. Looking ahead, we want to help our customers stay protected 24/7 and continue to evolve Warden to be an all-in-one cloud security solution with Compliance automation, CSPM, CIEM, and Advanced Threat Detection features,” said Paul Hadjy, CEO and Co-founder of Horangi.
Horangi is a world-class and leading cloud security company in Asia, providing cybersecurity professional services and cybersecurity products (Warden) to leading ASEAN organizations such as Gojek, Singlife, and SCB Abacus. With Be U, Bank Islam aims to leverage the rapidly changing fintech landscape by allowing customers access to an affordable and easy-to-use financial solution. Horangi’s cloud security platform Warden helped the Bank by easing their compliance journey with Warden’s out-of-the-box 500+ cloud security rules and compliance automation features.
About Horangi
Horangi is a leading cybersecurity company founded by ex-Palantir Technologies engineers and is headquartered in Singapore. Horangi’s best-in-class Warden cloud security platform protects organizations in the public cloud, complemented by an elite team of cybersecurity experts providing CREST-accredited offensive and strategic cybersecurity services to customers across the world. For more information, visit https://www.horangi.com/.
About Bank Islam Malaysia Berhad
Bank Islam is Malaysia's first public listed Islamic Bank on the Main Market of Bursa Malaysia Berhad. Established in July 1983 as Malaysia's first Islamic Bank, Bank Islam has 141 branches and more than 900 self-service terminals nationwide. As a full-fledged and pure-play Islamic bank, Bank Islam provides banking and financial solutions that strictly adhere to the Shariah rules and principles and are committed to the ideals of sustainable prosperity and ESG values. The core subsidiaries of the Bank Islam Group are pioneers in various Islamic financial services, including investment and stockbroking, namely BIMB Investment Management Berhad and BIMB Securities Sendirian Berhad.
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