Nomura Research Institute enhances security of I-STAR/CORE solution
NRI’s I-STAR/CORE solution for wholesale brokerage firms adds two-factor authentication to strengthen security.
Provider of consulting services and system solutions Nomura Research Institute Ltd (TYO:4307) has announced that the company’s I-STAR/CORE back office solution has added two-factor authentication in order to enhance security for wholesale brokerage firms looking to secure their settlement functions.
NRI users rely on I-STAR/CORE for post-trade operations support, including fund and securities settlement. As security requirements increase, there has been growing demand for stricter security measures around settlement functions. As a result, NRI has added dynamic password technology to existing authentication processes. The dynamic password is generated on a mobile application, and I-STAR/CORE users are required to enter the one-time password in addition to the existing password.
Let’s recall that, earlier this year, NRI unveiled updates to I-STAR/CORE in order to enable brokerages comply with international Financial Stability Board (FSB)’s Standards and Processes for Global Securities Financing Data Collection and Aggregation.
As a result of those system updates, users got the ability to set different collateral management and contract details according to each user company, client, and trade. Using a combination of I-STAR’s existing functions such as contract management, cash collateral and substitute collateral management and account attribute management, the new functionality enables the users to report automatically in compliant with the FSB’s guidelines.