Zarai Taraqiati Bank Limited (ZTBL) has announced a strategic partnership with Wateen to establish a state-of-the-art security operations centre (SOC) aimed at safeguarding the bank’s critical digital infrastructure and ensuring the security of data for over half a million customers. The collaboration, signed between Tahir Yaqoob Bhatti, President/CEO of ZTBL, and Adil Rashid, CEO of Wateen, marks a significant step in enhancing the bank’s cybersecurity capabilities.
The newly established security operations centre will be managed by Wateen, which will oversee ZTBL’s security landscape through continuous monitoring and advanced threat detection measures. The partnership is designed to offer real-time surveillance and rapid incident response, ensuring that any potential security breaches or cyber threats are dealt with swiftly, minimizing any disruptions to the bank’s operations. By doing so, the partnership aims to strengthen ZTBL’s ability to safeguard its digital assets and sensitive customer information against the growing threat of cyberattacks.
In addition to enhancing ZTBL’s cybersecurity posture, Wateen will also work to bolster the bank’s defenses against emerging digital threats. The increasing sophistication of cyberattacks poses a continuous challenge to financial institutions worldwide, and this collaboration ensures that ZTBL is well-equipped to handle such challenges.
The partnership also aligns with critical compliance standards, ensuring that the bank meets regulations set by the Federal Board of Revenue (FBR), the State Bank of Pakistan (SBP), and other relevant authorities. It adheres to the National Cyber Security Policy 2021, Pakistan Telecommunication Authority (PTA) regulations, as well as the Payment Card Industry Data Security Standard (PCI DSS) and ISO 27001 standards. These regulations are essential in maintaining the integrity and security of digital systems in the financial sector, and ZTBL’s alignment with these standards reinforces its commitment to providing a secure banking experience for its customers.
ZTBL’s initiative to partner with Wateen is part of its ongoing effort to modernize its operations and provide secure, reliable banking services in a digitally connected world. The implementation of the security operations centre will help the bank mitigate risks related to data breaches, fraud, and other cyber threats that could undermine customer trust and the integrity of its services.
In a statement, Tahir Yaqoob Bhatti emphasized the importance of maintaining robust cybersecurity measures in today’s increasingly digitized financial environment.
“This partnership with Wateen is a crucial step in enhancing our security framework and ensuring that our customers’ data remains protected. As we continue to innovate and expand our digital services, safeguarding our customers’ information is of paramount importance,” he said.
Adil Rashid, CEO of Wateen, highlighted the company’s role in providing advanced cybersecurity solutions.
“We are proud to partner with ZTBL in strengthening its security measures. With our extensive expertise in cybersecurity, we aim to ensure the continued safety and integrity of the bank’s digital assets, empowering them to offer secure and seamless banking experiences for their customers.”
This collaboration between ZTBL and Wateen marks a significant milestone in the financial sector’s ongoing efforts to protect digital infrastructure from evolving cyber threats, while also ensuring compliance with international standards. As the digital landscape continues to evolve, such partnerships are essential in fostering secure, reliable, and trustworthy financial services for customers in Pakistan and beyond.
