IBM Security (NYSE: IBM) and SIX, the operator of the infrastructure underpinning the Swiss financial sector, today announced plans to leverage IBM Watson for Cyber Security in a new cognitive Security Operations Center (SOC). The new facility will be housed at SIX’s offices in Switzerland to provide localized cyber security services tailored to needs of the region.
As part of a new partnership, the SIX SOC powered by IBM will give clients access to the latest IBM cognitive security tools used to fight cybercrime. The centerpiece of the new SOC will be IBM Watson for Cyber Security, the industry’s first cognitive security technology. Watson has been trained on the language of cyber security, ingesting over 1 million security documents, helping security analysts parse thousands of natural language research reports that have never before been accessible to modern security tools.
SIX will now be able to offer advanced security services to its existing financial industry customers, utilizing the IBM Security capabilities as important building blocks for the offering. The project will add new capabilities to a traditional SOC infrastructure as well as develop a new, highly collaborative IBM – SIX framework for the multi-tenant, next generation SOC.
SIX will be enabled by IBM Security to take full control of cyber security protection for clients by tapping into world-renowned IBM X-Force threat intelligence research. SIX selected IBM for its ability to provide wide ranging expertise in security and data protection, but also for its experience managing multiple global SOCs serving a variety of industries.
The new Cognitive SOC services will be extended to customers of both companies, who are looking for a trusted Swiss-based security partner. The services will be initially offered to banking industry customers who need security, regulatory, compliance and audit capabilities located in the region to ensure adherence to existing or future Swiss data privacy and data protection legislation – regulating what can be exchanged, by whom and how, as well as financial market regulations.
SIX and IBM will jointly develop a roadmap that defines the evolution of the “New Generation of Security Operations Center”. To ensure the SOC and associated security services are operational as soon as possible, the roadmap includes the joint development of the first basic building blocks of the new targeted platform and the required governance for running this long-term strategic cooperation successfully.
“Digitization, Internet of Things, global connectivity and the integration of new disruptive technologies are some megatrends opening a lot of new business opportunities. However, they also bring new threats with possible high impact on the industry. We operate the infrastructure of the Swiss financial market. IBM as leading company in Security Operations and Response was the logical partner for us and the perfect match for our requirements to build and operate our SIX Security Operations Center which will go beyond today’s off-the-shelf cyber security standards – therefore defining the next generation of the Swiss financial market”, says Robert Bornträger, Division CEO SIX Global IT.
“This partnership with SIX is a major step in Switzerland for IBM as a company, and its security business in particular,” said Thomas Landolt, Country General Manager IBM Switzerland. “IBM has a proud tradition of excellence providing the world’s top financial services companies with essential technologies. We’re looking forward to both helping SIX manage its own cyber security needs, and also becoming an essential partner starting with the globally respected Swiss banking market to those other organizations who need regionally based and Swiss market compliant security services.”
IBM recently announced its Cognitive SOC platform, which brings together advanced cognitive technologies with security operations and provides the ability to respond to threats across endpoints, networks, users and cloud. The IBM Cognitive SOC platform puts cognitive technologies into security analysts’ hands, enhancing their ability to fill gaps in intelligence and act with speed and accuracy.
SIX operates the infrastructure underpinning the Swiss financial sector and offers a comprehensive range of services around the world in the fields of securities trading and settlement, financial information and payment transactions. The company is owned by its users (approximately 130 banks of various orientation and size). Its workforce of over 4,000 employees and presence in 25 countries throughout the world generated operating income of CHF 1.8 billion and a Group net profit of CHF 221,1 million in 2016.
IBM Security offers one of the most advanced and integrated portfolios of enterprise security products and services. The portfolio, supported by world-renowned IBM X-Force® research, enables organizations to effectively manage risk and defend against emerging threats. IBM operates one of the world’s broadest security research, development and delivery organizations, monitors 35 billion security events per day in more than 130 countries, and holds more than 3,000 security patents.