Co-operative Bank
Mumbai, Maharashtra
Banking and Finance Industry
Managed SOC Services
Overview
The bank is a one of the leading co-operative banks in Mumbai and well-known in the banking industry for providing a wide range of Banking & Financial services. They take in all-inclusive valuable treasury and put it to use for all Banking units as well as end customers. Such a tentative banking unit necessitates a large and deliberate working environment with cutting-edge working applications and system software.
The Challenge:
The respective bank has experienced tentative and segmented challenges in their working environment. They have observed that financial services have a steady rise in cyber threats as they are becoming increasingly digitalized and have been embracing complex technologies (such as mobile and internet banking, etc). The bank also rely on alliance partners (such as fintech companies) and third-party vendors in banking operations who require to access bank’s networks to conduct several operations. With the advent of COVID-19, there was an increase in demand for secure contactless transactions and virtual services, which increased the threat attack surface by introducing new entry points into their networks. The bank has requested for preventive security measures to oversee and secure its extensive network. In order to combat ever increasing sophisticated attacks, bank wanted to develop a rapid incident detection and response management and to meet stringent regulatory requirements.
AtmosSecure Solution:
AtmosSecure Managed SOC Service provided by NTIPL is powered by advance SIEM Solutions based on Artificial Intelligence and Machine Learning. It processes high-volume high-velocity data in real-time and uses dynamic threat intelligence models to detect vulnerabilities and suspicious activities in customer environment.
Our key contributions for the client included:
24/7 threat monitoring, precise analysis and rapid response management.
Alert classification based on severity of intrusion and ex-filtration attempts, malware infection, web application exploits and other security incidents.
Compliance ready security environment as per guidelines issued by RBI, PCI DSS, NIST.
Privilege monitoring and alerting for every account, system and group.
Benefits:
Through 24/7 detection and response, the AtmosSecure Managed SOC solution enabled the customer to improve its security. Furthermore, SOC team notifications and recommendations raise cybersecurity awareness at the operational and top management levels of banks, while providing IT with insight into the bank’s security posture. We have been delivered a below business benefits to the bank after implementing a SOC Managed Services.
- Improved security visibility and reporting through 24×7 monitoring.
- Receiving real-time alerts for any anomalous or malicious activity.
- Reduced risk of customer network being compromised with improved response time.
- Provided remediation to customer IT team to detect existing flaws and prevent future attacks.
- Complied with regulatory authorities.
- Providing up-to-date threat research databases and security tools and technologies.
- Providing reports and trends for IT and management review.
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