Cyber threats are 300 times as likely to target the broader financial services industry as companies in other sectors, according to BCG. Whether attackers are attempting to access financial information, take over customer identities, commit fraud, or hold critical files for ransom, compromise is inevitable. It is more important than ever to detect and stop active attack campaigns.
To keep up with the current threat landscape, drastic improvements to the financial institutions Security Operations Center (SOC) function are required. Vendor claims are misaligned with how threat actors employ a constantly changing set of Tools, Tactics and Procedures to evade existing solutions. Security operations need AI-powered dynamic cybersecurity controls to improve the performance of SOC teams based on the multitude of new challenges they face.
Top Cybersecurity Challenges Facing Financial Services Organizations
Financial Institutions, partners and consumers have proven to be a primary target for threat actor groups. While defensive measures and current XDR and SIEM solutions have been somewhat successful at stopping basic attack attempts, they have failed to thwart persistent and targeted attacks. Phishing and social engineering attacks evade defenses which is why initial compromise is inevitable.
Based on our own customer research we have seen that the top challenges today include:
- Phishing attacks burden security operations teams with false positives and too many downstream workflows
- Both state and national compliance and regulatory agencies are involved in even the smallest breach
- A multitude of partners causes a huge number of security gaps and an expanded threat landscape
- insider threats continue to evade current solutions for prolonged periods
Gurucul TDIR Platform Uniquely Secures Financial Services Organizations
There is a real need to modernize cyber defenses for Financial Institutions. Financial industry security teams must invest in Threat Detection, Investigation and Response (TDIR) solutions that are more aligned with their security objectives than exaggerated claims by current vendors. Gurucul has spent over 10 years building open security analytical models and a true self-training machine learning engine deployed as a cloud-native SaaS security operations platform.
- Collect data from any type of source, without escalating costs due to licensing and storage
- Consolidate, Correlate and Normalize all security context into a single console
- Automatically detect threats out-of-the-box and in real-time
- Reduce noise and eliminate false positives by prioritizing context-driven investigations
- Enable automated risk-driven response delivered in targeted Playbooks
Gurucul is uniquely positioned to optimize Financial Services security team’s efficiency, regardless of skillset and significantly reduce resource and operational costs over time, while preventing damage to the business.
Stop Threats Earlier in the Kill Chain
Here’s the key: the only way to keep internal and external attacks at bay is by detecting and stopping threats earlier in the kill chain. You’ve got to utilize technology that can proactively halt threat actors in flight – before data exfiltration or business disruption can occur. Luckily Gurucul is here to help with the most advanced analytics to detect true incidents quickly.
Supercharge your Security Operations and redefine cyber defenses for Financial Institutions with Gurucul’s TDIR Platform. It is unmatched in its ability to analyze user communications and financial transactions for external security threats, insider threats, privilege misuse, and fraud:
- Get full visibility without escalating costs
- Leverage depth of analytics for advanced detection
- Increase operational efficiency and improve ROI
- Enjoy automated eradication of threats
Synax Technologies, based in Dubai is the authorized distributor of Gurucul in the Middle East & Africa Region. Write us at [email protected] & contact us at +971 4 2768111.
Gurucul Security Analytics and Operations Platform, Next-Gen Security Information and Event Management (SIEM), User and Entity Behavior Analytics (UEBA), Open Extended Detection and Response (XDR), Identity and Access Analytics, Network Traffic Analysis (NTA), Security Orchestration Automation and Response (SOAR), Fraud Analytics, MITRE ATT&CK Framework, Zero Trust Security, Medical Device Discovery and Monitoring, Hybrid SOC, Cloud SOC, and more!
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