Jakarta, INTI - The rapid evolution of digital transformation has fundamentally reshaped the financial services sector, offering vast opportunities for innovation and efficiency. However, this digital shift also brings an increasing array of cybersecurity challenges. One of Indonesia's largest financial institutions recently found itself at the forefront of this battle. Faced with an ever-expanding cybersecurity landscape and stricter regulatory demands, the institution sought a solution to secure its data while ensuring uninterrupted service for its customers. This quest led to a strategic partnership with Telin, an Akamai Elite Partner, which provided a robust and effective cybersecurity infrastructure.

Navigating the Complex Cybersecurity Landscape

The financial services industry is one of the most targeted sectors for cyberattacks worldwide. It remains a top priority for cybercriminals due to the vast amounts of sensitive data and monetary assets it holds. Phishing campaigns, Distributed Denial of Service (DDoS) attacks, and vulnerabilities in application interfaces have become common methods for cybercriminals seeking unauthorized access to systems. According to IBM’s 2024 Cost of a Data Breach Report, the financial sector incurs the highest costs per breach, averaging USD 9.77 million. These costs include not only the immediate financial losses but also regulatory fines, operational disruptions, and the loss of customer trust.

This Indonesian financial institution faced challenges in managing an increasingly complex cybersecurity landscape. With the volume and sophistication of cyber threats rising, the institution required advanced solutions to protect its infrastructure. Moreover, tightening regulatory requirements, including compliance with Indonesia’s Personal Data Protection Act (PDPA), added another layer of complexity to the institution’s operations.

The Role of PDPA in Safeguarding Data

The Personal Data Protection Act (PDPA) establishes a robust framework for data protection in Indonesia, encompassing rules for data collection, processing, storage, and security. Non-compliance with PDPA can result in severe penalties, including fines of up to 2% of a company’s annual revenue. The act not only focuses on preventing unauthorized access but also emphasizes the need for data availability and resilience in the face of unexpected disruptions.

Compliance with PDPA requires organizations to adopt proactive measures that go beyond basic cybersecurity practices. Institutions must ensure that their data is not only secure but also readily available to authorized users during crises. This dual focus on security and availability is essential for maintaining customer trust and fulfilling regulatory obligations.

How Telin and Akamai Address Cybersecurity Challenges

Telin, as the enterprise arm of Telkom Indonesia, partnered with Akamai to deliver tailored solutions for the financial institution. Telin’s extensive global infrastructure, which spans 162 points of presence in 35 countries and 250,210 kilometers of subsea cables, provided a foundation for a resilient and secure network. The partnership leveraged Akamai’s advanced cybersecurity technologies to address the institution’s unique challenges, ensuring robust data security and compliance with both local and international standards.

One of the critical solutions implemented was the use of Web Application Firewalls (WAFs). These firewalls protect against vulnerabilities at the application layer, such as SQL injection and cross-site scripting attacks. By safeguarding web applications, which are often the primary entry points for cyberattacks, WAFs helped ensure the integrity of the institution’s data and operations. Additionally, anti-DDoS solutions were deployed to counteract high-volume attacks aimed at disrupting services. These solutions effectively detected and mitigated threats, allowing the institution to maintain service availability even during peak attack periods.

Telin also introduced microsegmentation, a security technique that divides the network into smaller, isolated segments. This approach limits the spread of malware within the network and provides more precise control over data access. Combined with advanced encryption for both data at rest and in transit, these measures fortified the institution’s defenses against potential breaches.

Ensuring Regulatory Compliance and Operational Resilience

Beyond enhancing security, the partnership focused on ensuring compliance with stringent regulatory requirements. Indonesia’s PDPA mandates not only the protection of personal data but also the implementation of measures to maintain its availability and integrity. By integrating Telin’s solutions with Akamai’s technologies, the institution achieved full compliance with these regulations while also adhering to international standards like ISO 27001 and PCI DSS.

The institution benefited from Telin’s round-the-clock support through its 24/7 local operations center. This ensured rapid response to security incidents, minimizing downtime and maintaining customer confidence. By the end of 2024, the institution reported 100% service availability and successfully resolved all reported issues, demonstrating the effectiveness of the implemented solutions.

The Broader Impact of Collaboration

The collaboration between Telin and Akamai illustrates how strategic partnerships can empower financial institutions to navigate the challenges of the digital era. The solutions not only enhanced the institution’s cybersecurity infrastructure but also bolstered its operational resilience. With data breaches becoming increasingly common, maintaining uninterrupted service is crucial for retaining customer trust and staying competitive in a rapidly evolving market.

This case study also highlights the importance of global partnerships in addressing cross-border cybersecurity risks. With data flowing seamlessly across jurisdictions, local compliance alone is insufficient. By aligning with international standards, institutions can protect their critical infrastructure while expanding their reach into global markets.

Building Trust Through Proactive Cybersecurity Investments

In the financial sector, trust is the cornerstone of every customer relationship. A single data breach can erode years of trust, leading to significant reputational damage and financial losses. A recent Statista report revealed that data breaches are one of the top reasons investors withdraw from financial institutions. This underscores the importance of proactive cybersecurity investments in safeguarding not only data but also the institution’s reputation.

The collaboration between Telin and Akamai demonstrates how advanced technologies can provide a competitive edge. By implementing robust solutions such as encryption, microsegmentation, and anti-DDoS measures, financial institutions can enhance their security posture while building long-term customer loyalty.

The Future of Secure Digital Transformation

As digital transformation accelerates, the financial services sector must remain vigilant against emerging cyber threats. Institutions that adopt a holistic approach to cybersecurity—encompassing technology, regulatory compliance, and strategic partnerships—will be better positioned to thrive in this dynamic landscape.

The partnership between Telin and Akamai serves as a blueprint for other financial institutions seeking to navigate the complexities of the digital era. By prioritizing cybersecurity and leveraging global expertise, these institutions can build a secure foundation for sustainable growth.

A Call to Action

The case of Telin and Akamai’s collaboration underscores the critical role of cybersecurity in ensuring the success of digital transformation initiatives. Financial institutions must recognize that cybersecurity is not merely a regulatory obligation but a strategic imperative. By investing in advanced technologies and fostering global partnerships, they can turn challenges into opportunities.

As the digital landscape continues to evolve, institutions that embrace innovation and prioritize security will lead the way in building a safer, more resilient financial ecosystem. The lessons from this collaboration serve as a reminder that with the right strategies and tools, the future of financial services can be both secure and prosperous.

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