As part of its technological modernization strategy, Bancamiga migrated its production environment, a decision that strengthens the processing, storage, performance, and availability capabilities of the services that support the Financial Core and the Transaction Authorization System, considered critical components for business continuity.

With this migration to the IBM i Power 11 platform, Bancamiga now has a next-generation architecture with greater processing capacity and resources to meet operational demands, reduce exposure to technological obsolescence, and strengthen the technical continuity of supported services. This, according to a statement from the institution, allows Bancamiga’s digital channels to operate more efficiently and continuously.

Among the services benefiting from the new platform are Internet Banking, the Bancamiga Suite application, Mobile Payment, and the Bancamiga Debit Card.

Sergio Saggese, Executive Director of Technology and Information Security at Bancamiga, emphasized that the bank’s sustained growth in recent years necessitated the upgrade of its computing infrastructure to a supported, secure, scalable platform with growth potential.

“The new platform allows us to process a greater number of daily transactions in real time, which means customers will enjoy faster everyday operations, shorter maintenance times, and even stronger protection for their information,” said Saggese.

Speed, maximum security, and sustainable technology

This new infrastructure is not only designed to support a high volume of daily operations without interruption, but it also incorporates significant advantages in data protection and sustainability:

• Increased real-time speed: Thanks to the increased processing capacity of the new equipment, user transactions are completed much faster, and routine bank maintenance takes less time.
• Data protection and Artificial Intelligence: The platform includes high-security encryption to protect customer information and integrates analytics with Artificial Intelligence directly into its systems, allowing for the evaluation and optimization of operations without exposing data to external environments.
• Power with a smaller environmental impact: Despite its enormous capacity to handle millions of data points, the new technology consumes less energy, promoting more efficient and environmentally friendly operations.

With this significant investment in cutting-edge technology, Bancamiga reaffirms its commitment to offering modern, stable, and secure banking solutions that adapt to the lifestyles of all its users.

Information and image courtesy of Bancamiga Banco Universal

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At Bancamiga, cybersecurity is a core pillar of business continuity and its reputation. In an ecosystem where trust is the most valuable asset, protecting data integrity is a strategic business imperative.

For Sergio Saggese, Executive Director of Technology, Processes, and Information Security at Bancamiga, digital transformation is a change in business models and a necessity to compete in today’s markets. However, the accelerated pace of digital transformation has broadened the scope of exposure to cyberattacks. These attacks are perpetrated in a highly sophisticated manner, primarily aimed at blocking critical operations to demand ransoms, using techniques that employ Artificial Intelligence to emulate voices or legitimate banking platforms.

During the conference “Managing the Digital Age: Cybersecurity Implications for Businesses,” delivered this Wednesday to students at Monteávila University, Saggese stated that attacks occur daily and companies must protect themselves. It is essential to understand that there are threats and what those threats are.

“Cybercrime takes advantage of human error, whether by action or omission, misconfigurations, and vulnerable code. There are targeted attacks that utilize third-party connections and interconnected devices, which serve as entry points to internal networks. A chain is only as strong as its weakest link,” he indicated.

He expressed that digital transformation is inevitable to offer agile, personalized, and competitive services that are securely structured from the design stage on four pillars: cloud adoption, AI, the Internet of Things, and data analytics.

For Bancamiga’s CEO, Sergio Saggese, the question today isn’t “whether we will be attacked,” but rather “how quickly will we detect, respond to, and recover from an attempted attack?”

To protect an organization, it’s necessary to shift from a reactive approach to a proactive and defensive stance. The starting point should be “never trust, always verify.” Every access request, whether from inside or outside the network, must be constantly authenticated, authorized, and validated. Continuous training for employees and partners, with content tailored to the customer experience, is also key. It’s essential to strengthen monitoring capabilities and prepare for the moment of an attack.

Saggese maintained that there must be a comprehensive and holistic process for managing cybersecurity, and this is where the focus on cyber resilience —an organization’s ability to anticipate, resist, confront, and recover from adverse cyberattacks— becomes crucial.

“It’s about strengthening the company’s capacity to resist and respond. Cybersecurity isn’t just about resisting, but about navigating the storm.”

The conference attendees, mostly first-year engineering students, expressed their gratitude with words and applause for the concepts presented by Saggese, recognizing their contribution to their holistic development.

Information and images provided by Bancamiga Banco Universal                        

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With the aim of educating, raising awareness, and informing clients about the most common digital frauds in Venezuela, as well as how to avoid and recognize them, Bancamiga launched a series of cybersecurity talks for its clients, part of its financial education initiatives.

The event covered key concepts that will allow clients to be better prepared for the digital risks they face.

The Chairman of the Board of Directors of Bancamiga, José Simón Elarba, highlighted the importance of these initiatives, stating that “48 % of Venezuelans have been victims of cybercrime, and in response to this figure, Bancamiga has focused all its efforts on offering solutions that minimize risk, strengthen our platforms, and protect our clients’ information.”

Among the mechanisms Bancamiga is implementing to strengthen security are technological upgrades that reinforce its digital systems, communication campaigns to educate and warn clients, and these meetings that aim to raise awareness and offer practical tools to users.

“As a bank, we are committed to adopting cutting-edge technology to protect both our clients’ interests and our own. Effective security requires active collaboration. We consider ourselves allies in this mission, and it is crucial that we work together to create a safe and reliable environment,” he added.

Individual caution is key and fundamental

One of the most relevant topics discussed was phishing, a method that accounts for more than 60 % of attacks targeting bank users through fake websites that mimic official portals. In this regard, a fundamental piece of advice was emphasized: type Bancamiga’s web domain directly into your browser and avoid accessing it through links in search engines to reduce the risk of falling for fraudulent sites.

Despite Bancamiga’s advanced security measures, individual awareness and caution are essential. Constant vigilance is our best defense.

With this first series of talks, organized by the Executive Directorate of Technology and Information Security, headed by Sergio Saggese, Bancamiga reaffirms its commitment to being a more innovative and reliable institution, offering its clients not only quality financial products, but also the knowledge and tools necessary to protect themselves in the digital environment.

Information and image provided by Bancamiga Banco Universal 

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