IIT Madras and IDBI Bank to Jointly Develop Cybersecurity Solutions for Fintech

The Indian Institute of Technology Madras (IIT Madras) has partnered with IDBI Bank to launch the 'IDBI – IITM Secure Systems Lab' (I2SSL), focusing on developing and deploying cybersecurity solutions in crucial sectors such as healthcare, fintech, and aerospace. Inaugurated at the IIT Madras campus, the lab aims to create market-ready intellectual properties (IPs) in cybersecurity, emphasizing the productization and commercialization of research work, especially in mobile technologies.

The I2SSL will concentrate on cybersecurity in industries including banking, automotive, power, and telecommunications, conducting experimental evaluations and assessments to ensure robust security measures. Researchers will focus on vulnerability research and developing guidelines to strengthen system security, enabling enterprise systems to manage cybersecurity risks in real-time.

Educational initiatives are also a key component, with the lab providing a platform for research students and promoting cybersecurity thinking among undergraduates through online programs, capture the flag (CTF) events, hackathons, and projects. This will foster a new generation of cybersecurity experts equipped to tackle emerging threats.

In terms of innovation, the lab aims to design secure hardware firewalls, point-of-sale devices, and mobile banking solutions. The focus will be on implementing security measures using memory-safe languages, tagged architectures for fine-grained access control, memory encryption, and Trusted Platform Modules (TPM).

Overall, the I2SSL at IIT Madras seeks to address security concerns holistically, from theoretical foundations to practical system building and exploitation of vulnerabilities. This interdisciplinary approach aims to provide comprehensive security solutions critical for safeguarding various industries, advancing cybersecurity research and development in India, and ensuring that critical systems are protected against emerging threats.

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