THALES
National Credit and Commerce Bank (NCC) of Bangladesh has rolled-out Thales Luna Hardware Security Modules (HSMs) across its existing infrastructure to meet the complex security requirements of the recently launched Interoperable Digital Transaction Platform (IDTP), also known as “Binimoy.” The tamper-resistant hardware is the ‘root of trust’ for NCC Bank’s real-time transactions, providing customers with a seamless yet highly secure user experience.
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Mr. Anisur Rahman Chief Information Officer (CIO), Information Technology Division at NCC Bank (Photo: Thales)
In November 2022, the Bangladesh Government launched the Interoperable Digital Transaction Platform (IDTP), allowing entities to move funds between bank accounts, mobile financial services, and payment system providers in real-time and at a lower cost. The platform connects customers, merchants, payment processors, e-wallets, banks, and more, supporting the Government’s goal of a cashless society.
The IDTP relies on crypto operations to ensure the confidentiality and integrity of all transactions. NCC Bank selected Thales Luna HSMs as its hardware-based root of trust for its cryptographic operations. Deployed for crypto operations and secure key generation and storage, Luna HSMs are FIPS 140-2 Level 3 certified and offer a secure communication channel between HSM and application nodes. The deployment enables NCC Bank to trust payment transactions in real-time, ensuring an unhindered experience for the user while providing the highest level of security.
Thales Luna HSMs have been the Bangladesh Government’s security platform of choice since 2010, when they were first rolled out at the inception of the Bangladesh Automated Clearing House (BACH). Over the last several years, the hardware has also been selected to secure the Government-owned Bangladesh Bank’s Nikash Application, developed to replace its existing Electronic Funds Transfer Network (EFTN). Once again in 2022, when the Government launched the IDTP, Thales Luna HSMs became the de-facto choice amongst participating banks, including NCC Bank, for their trusted security and capability to support multiple applications and use cases.
Anisur Rahman, Chief Information Officer, Information Technology Division at NCC Bank, said, “NCC Bank has a long-standing reputation for sincere personalised service and quality technology. We knew we had to rise to the challenge of the IDTP, ensuring our products and services across Bangladesh were interoperable, secure, and seamless for the customer. We selected Thales through comprehensive evaluation due to their reputation as the market leader in the security industry. Adding Luna HSMs to our existing infrastructure was smooth and seamless thanks to its efficient setup and administration.”
Thales Luna HSMs allow the control and management of cryptographic keys across physical, cloud and hybrid IT infrastructures, including NCC Bank’s 125 branches. The overall security architecture supports the stringent security requirements of the IDTP, including multi-factor authentication and easy reporting for audits.
As Bangladesh’s financial sector continues its digital transformation, NCC Bank will benefit from Luna HSMs’ scalable, flexible, and agile offering that can handle multiple applications with different crypto requirements.
Rana Gupta, APAC Vice President, Data Security Products at Thales, commented, “Banks around the world entrust Thales to ensure the privacy of their customers. We are proud to assist NCC Bank's transition to digital technologies that benefit millions. Our Luna HSMs are designed to balance security and high-performance requirements for traditional and new technologies. For financial institutions like NCC Bank of Bangladesh, this means ensuring that digital currency has the highest level of security for its customers.”
About Thales
Thales (Euronext Paris: HO) is a global leader in advanced technologies within three domains: Defence & Security, Aeronautics & Space, and Digital Identity & Security. It develops products and solutions that help make the world safer, greener and more inclusive.
The Group invests close to €4 billion a year in Research & Development, particularly in key areas such as quantum technologies, Edge computing, 6G and cybersecurity.
Thales has 77,000 employees in 68 countries. In 2022, the Group generated sales of €17.6 billion.
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