Global Fintech Company Implements LogRhythm’s SIEM to Minimize Cyber Security Risks and Maximize ROI
A global fintech company needed a way to drive greater efficiency into its cybersecurity position by achieving measurable time and cost savings. As the threat landscape continues to grow for the financial services industry, it needed to find the right Security Operations Center (SOC) solution to capture greater ROI from its cybersecurity investment and improve attack surface visibility.
The fintech company selected LogRhythm’s Security Information and Event Management (SIEM) solution to capture greater return on investment (ROI) and strengthen its threat detection and mitigation capabilities against new and emerging security challenges.
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The challenge
Due to the nature of the business, the financial sector is particularly vulnerable to threat actors who want to make money. As an industry leader in the financial market, the fintech company needed to ensure it provided the best possible security experience to protect its customers worldwide.
It had undergone numerous troubleshooting sessions with its previous SIEM vendor, but the support provided was unable to restore faith in the product, and the total cost of what it received was no longer acceptable. Reporting continued to be burdensome and the fintech company did not achieve desired results.
It needed a reliable vendor that could deliver a consistent security experience while ensuring total cost matched ROI. This required a high-performance security solution that would ease the pressure on internal resources and give teams more time to focus on incidents that need human attention. The fintech company needed to find a SOC provider that could enable it to effectively tackle future threats, as well as prove the value and effectiveness of its security program.
The solution
The financial provider was looking for a security solution it could trust. After being let down by its previous SIEM vendor, it was important to work with a team that understood the goals and could help achieve the desired ROI.
The fintech company considered a number of cybersecurity solutions on offer, but chose LogRhythm’s SIEM because of its ability to provide a seamless experience and measurable results. LogRhythm’s solution enabled it to deliver a robust, end-to-end set of cybersecurity tools to combat modern threats while balancing investment costs.
The fintech company benefited from the expertise of an experienced team dedicated to achieving the client’s individual cyber security goals. LogRhythm was able to restore confidence by providing a full demonstration of its SIEM solution. Seeing the solution in action, LogRhythm proved its capabilities to the fintech company with an upfront approach.
As a result of deploying LogRhythm’s SIEM, the fintech company reduced its total number of alerts, reduced the number of alerts that are false positives, and cut the time an analyst evaluates an alert as either a true positive or a false positive.
By establishing a fully functional SOC, the fintech company can automate simple, repetitive tasks and allow analysts to spend more time on high-value activities, including threat hunting, responding to true incidents, and creating and improving automation. This ensured it was able to achieve ROI and better utilize the time of the security team.
Maximizing threat hunting efficiency and ROI
The fintech company recognized the value of investing in LogRhythm’s SIEM solution to mature its security posture and deliver greater operational efficiencies. By working with LogRhythm, it has dramatically improved detection and response times.
According to Forrester’s Total Economic Impact™ of LogRhythm SIEM report, LogRhythm’s SIEM platform delivers $3.1 million in benefits over three years, including faster investigation and resolution of security incidents. The research indicates that organizations achieve an average ROI of 258% over this three-year period, allowing the platform to pay for itself in less than six months.
“Prior to implementing LogRhythm SIEM, we faced significant challenges around maximizing ROI within our cybersecurity solutions. This impacted our effectiveness in effectively hunting and mitigating threats,” said the organization’s security operations analyst. “LogRhythm has enabled us to quickly gain a full overview and contextualize threat activity. It has allowed us to take control of our cybersecurity environment with a solution centered around our success.”
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*** This is a Security Bloggers Network syndicated blog from LogRhythm written by Natalie Pinner. Read the original post at:
