What happened
Global cybersecurity firm Kaspersky and UAE-based digital banking platform provider Codebase Technologies signed a Memorandum of Understanding (MoU) aimed at strengthening cybersecurity in digital banking and fintech solutions across the Middle East. The agreement establishes a collaboration framework to explore integrated security capabilities within Codebase’s Digibanc™ platform and other digital financial services offerings, focusing on resilience, regulatory compliance, and protection of sensitive operations.
Who is affected
The partnership is relevant to banks, financial institutions, fintech companies, and regulated entities using or considering digital banking platforms in the region. It also has implications for customers and end users of these services, as enhanced cybersecurity measures can reduce risks of fraud, data breaches, and service disruptions.
Why CISOs should care
Digital financial services are lucrative targets for cybercriminals, with increasing threats against mobile banking, payments, and fintech ecosystems. Embedding advanced security early in platform development, rather than bolting it on later, supports stronger risk management, compliance, and operational continuity. This MoU signals a trend toward deeper integration of cybersecurity expertise with core digital banking infrastructure.
3 practical actions
- Assess current platform risk: CISOs should evaluate existing digital banking and fintech systems for gaps in threat detection, data protection, and compliance with regional regulations.
- Engage with technology partners early: Prioritize security involvement during platform design and vendor selection, ensuring robust threat modeling informs architecture decisions.
- Monitor threat intelligence trends: Stay updated on financial sector cyberthreats to adjust defenses and incident response plans proactively, leveraging industry reports and vendor insights.Â