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How nCrypt helped a Tier-1 Malaysian bank achieve full Bank Negara RMiT compliance within 6 months while maintaining 24/7 banking operations.
Bank Negara Malaysia's Risk Management in Technology (RMiT) framework establishes comprehensive cybersecurity requirements for all financial institutions operating in Malaysia. Our client, a Tier-1 Malaysian bank with over RM50 billion in assets, faced a critical deadline to demonstrate full compliance.
The bank's existing security posture had gaps across multiple RMiT domains, including technology risk management, cybersecurity operations, and third-party risk management. With customer data for millions of Malaysians at stake, failure was not an option.
nCrypt was engaged to conduct a comprehensive security assessment, identify all compliance gaps, and guide the remediation effort to achieve full RMiT compliance within the regulatory deadline.
A phased approach to achieving RMiT compliance without disrupting operations
Comprehensive assessment of current security posture against RMiT requirements. Identified 47 critical and 123 high-risk vulnerabilities across infrastructure and applications.
CREST-certified penetration testing of all internet-facing systems, core banking applications, and internal network infrastructure.
Worked alongside the bank's IT team to prioritize and remediate vulnerabilities. Provided detailed technical guidance for each finding.
Implemented 24/7 SOC monitoring, enhanced SIEM capabilities, and established incident response procedures aligned with RMiT requirements.
Conducted re-assessment to validate all remediation efforts. Prepared documentation for Bank Negara Malaysia review.
How we addressed the bank's unique security challenges
The bank operated multiple legacy core banking systems that were difficult to patch without risking service disruption.
Implemented compensating controls and network segmentation to protect legacy systems while planning gradual modernization.
All testing and remediation had to occur without impacting banking operations or customer-facing services.
Developed a phased testing schedule during low-traffic periods with immediate rollback procedures.
Bank Negara required compliance within 6 months, leaving no room for delays or scope creep.
Established weekly progress reviews with executive sponsorship and dedicated resources from both teams.
Social engineering assessments revealed significant gaps in staff security awareness and phishing susceptibility.
Implemented comprehensive security awareness training program reaching all 500+ staff members.
“nCrypt's team understood the unique requirements of Malaysian banking regulations. Their expertise in RMiT compliance was invaluable. They didn't just find vulnerabilities—they worked alongside our team to fix them and build lasting security capabilities.”
What Malaysian banks can learn from this engagement
Having C-level support ensured resources were available and blockers were removed quickly.
Breaking the project into phases allowed for course corrections without jeopardizing the timeline.
Technical controls alone aren't enough—security awareness training closed critical human vulnerabilities.
nCrypt has helped numerous Malaysian financial institutions achieve and maintain Bank Negara RMiT compliance. Let us help you too.