Thales Luna HSMs Secure Digital Transactions of a Prominent Bangladeshi Bank

Over the past ten years, banking and financial institutions worldwide have undergone a significant digital revolution. Innovative technologies have transformed payment transactions, banking processes, and even investments, leading to a shift toward digital formats. While the digital world and the cloud provide numerous benefits for banks and their customers, digitized financial institutions face evolving security and compliance challenges. These challenges demand new approaches to safeguarding critical systems and data. NCC Bank, a prominent and reputable bank in Bangladesh, relies on Thales Luna Hardware Security Modules (HSMs) to meet new government requirements and maintain seamless and secure customer interactions.

The challenge: Compliance, security, and customer experience

Recently, the government of Bangladesh launched the Interoperable Digital Transaction Platform (IDTP) initiative, known as Binimoy, which mandates all bank accounts, mobile financial services, and payment system providers to be interoperable. This move is expected to enable customers to transfer money in real-time and at lower costs within the financial sector, leading to a significant increase in cashless transactions.

Meeting the requirements of the new IDTP project posed several challenges and complexities. For instance, banking and financial institutions had to ensure end-to-end security with multi-factor authentication, a hardware-based root of trust for cryptographic operations and keys, and immutable record-keeping with audit logs. Besides these security requirements, banks had to ensure that the new measures would not affect customer experience by adding unnecessary complexity.

NCC Bank has always prioritized customer experience since its establishment in 1985. The bank has built a strong reputation for delivering personalized and excellent services to its customers by utilizing the latest technologies. In light of the IDTP requirements, NCC Bank recognized the opportunity to provide seamless, secure, an

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