State Bank of India to set up Next Gen GCSOC

          In the last week of January 2019, State Bank of India released ‘Request for Proposal’, to set up a “Next Generation Global Cyber Security Operations Centre” or in short Next Gen GCSOC.

          The due date for responses to be received was 16^th February 2019, however prospective bidders sought extension of dates.

          The final date for submission of the document is 18^th March 2019 and State Bank of India-Security Operations Centre Team has made it clear that there will be no more extension of the bid date.

          The basic qualification for the SIEM Solution is that it must have figured in the

The SIEM solution proposed to be offered to the Bank by the bidder must have been part of Gartner’s Leader / Challenger Quadrant consistently for the three years i.e. year 2016, 2017 and 2018

Definition - What does Gartner Magic Quadrant (Gartner MQ) mean?

The Gartner Magic Quadrant (MQ) is a series of market research publications produced by Gartner Inc.

These reports use an evaluation matrix to analyze the positioning of technology-based companies, rate technology vendors based on a defined criteria and display vendor strengths and weaknesses.

The Gartner MQ is used to evaluate a vendor before a specific technology product, service or solution is purchased.

Gartner Magic Quadrant research methodology provides a graphical competitive positioning of four types of technology providers in fast-growing markets: Leaders, Visionaries, Niche Players and Challengers.

As companion research, Gartner Critical Capabilities notes provide deeper insight into the capability and suitability of providers’ IT products and services based on specific or customized use cases.

Leaders and Challengers occupy the first two positions in the hierarchy. The next two positions are occupied by Visionaries and Niche Players.

Prospective customers can also refer to Gartner Critical Capabilities research notes for more information on short-listed suppliers.

The customers through reference to Gartner Magic Quadrant can arrive at a fair idea of the capabilities of the prospective suppliers. This reduces the procurement cycle and solutions can be deployed quickly.

Another requirement of SBI is that the proposed SIEM and Security Analytics must have been deployed at one client with at least 2,00,000 EPS globally in the last 3 years.

EPS in cyber security parlance stands for ‘Events per second’, monitored in Security Incident and Event Management (SIEM) Tool.  

This number is in line with State Bank of India’s IT infra spread across the country.

The proposed UEBA tool must have at least 50000 active users in deployed organisations.

UEBA is basically a machine learning model to assist in thwarting cyberattacks by discovery of security anomalies.

A typical UEBA tool through advanced analysis, aggregating data from logs and reports, looking at packet, flow, file and other types of information, tries to figure out whether certain kinds of activity and behavior are likely to constitute a cyberattack.

State Bank of India customers will be more protected from cyber attacks once the ‘Next Gen GCSOC’, goes live.