- July 30, 2020
- Posted by: Pat Riot
- Categories: CyberSecurity, Finance, Managed Detection and Response, Security Operations
As a finance company, you are probably asking “Why do I need to read about another cybersecurity tool?” and “What is it going to do for our company?”. However, it’s not about what cybersecurity can do for you, it’s about what you can do for your clients. Financial services use a wide variety of accounting software’s, budgeting tools, expense & inventorying trackers, and other various applications to ease & smoothen workloads, which then leads to satisfied customers. Having satisfied customers leads to reoccurring business. The drawback to all these application tools is that massive amounts of client personal data is input and output through these systems. This is where cybersecurity comes into play. Being able to handle sensitive personal data, operate at high levels, and generate exceptional performances are key to every financial service. However, while the software’s being used are efficient & convenient, they are not always the most secure. The newest innovations in cybersecurity allow financial firms to continue to work swiftly & effectively without having to stop and worry if they are being secure or not. Think of it as the toolbox for all the tools used by financial services. Cyber solutions allow companies to gain complete visibility & control over their network to ensure effectiveness & security.
Managed Detection & Response (MDR) has become the leading method of cybersecurity for industries in all vertical markets. It is an advanced cybersecurity solution that provides companies with next-gen software capabilities such as: threat intelligence, proactive threat hunting, 24/7 security network monitoring, & immediate incident response. Leveraged by machine-learning AI software known as Security Information & Event Management (SIEM), which utilize User Behavior Analytics (UBA) to collect log information and ordinary user behavior to help identify anomalies or suspicious behavior. Piloted by a SOC team of skilled cybersecurity experts, MDR solutions can investigate & contain threats before they spread and begin to orchestrate the appropriate responses to said threats. Unlike traditional providers, combining these technologies is what sets Steel Patriot Partners apart. The combination of machine learning and human operation provides a deeper detection than traditional Managed Security Service Providers (MSSPs).
Typically, companies would outsource their cybersecurity needs to a Managed Security Service Providers (MSSPs). While their methods do provide security protections, they are becoming a thing of the past. Typical MSSP’s are usually reactive to threats rather than proactive. Meaning they will alert a company when an incident hits their network, but they won’t remedy the problem. The draw back from this is attacks are becoming more frequent and much more complex. Traditional methods are getting left in the dirt and company employees are in way over their head trying to contain, remedy, and resolve current cyber-attacks.
All these services and functionalities provided by MDR solutions are especially essential to financial services. With the amount of client data and non-public personal information collected by financial firms it is important to secure and lock down any said data, ensuring your clients are protected. With proper log management, user behavior analytics, access & control monitoring, paired with 24/7 monitoring, client data can be safer than ever before. Not to mention MDR solutions help all organizations meet most cyber compliance regulations such as: GLBA, PCI DSS, CPAA.
With sound MDR protocols initiated monitored by security professionals, organizations will be able to gain full insight and control over their network. Which will allow them to enable Identity & Access Management ensuring only required personnel has access to sensitive information. Organizations will also be able to deliver real-time responses to data breaches and eliminate threats before they become catastrophic to the company.
Network security monitoring is the core of any security posture but is extremely difficult for organizations to manage due to the amount and volume being input into the system. That’s where we come in. Here at Steel Patriot Partners we offer our specialized MDR solution that uses next generation machine learning, artificial intelligence to collect and aggregate all log information transferring through any network. Our experienced SOC team works around the clock 365 days a year continuously company monitor data ensuring the network is secure and protected.
For more information on how our Managed Detection & Response solution can help gain full control and visibility into your network please contact us [email protected] or give us a call at 855.578.7272. We would love to talk!