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Has your company been searching for a security automation platform but can’t seem to pinpoint the specific characteristics to look for? If so, you’ve came to the right place. Cybersecurity and compliance should be at the top of every financial institution’s priority list. Banks face considerable challenges when protecting sensitive personal and financial data from breaches. According to a 2019 Bitglass report, the financial services industry contributed 62% of exposed data; however, it only accounted for 6.5% of data breaches. Banks specifically, house millions of network and financial accounts whose data includes private information—it is imperative that the data is continuously monitored and protected.
In today’s market, there is an increased demand for a Security Information and Event Management (SIEM) as more financial auditors are requiring these platforms for FFIEC compliance, and are exposed to vulnerabilities, attacks, criminals and other cybersecurity threats. The truth is, finding a SIEM platform to match your organization’s needs and budget can be difficult. Roadblocks tend to occur due to a lack of knowledge about SIEMs and how they actively work with your network.
Adlumin is the leading security and compliance automation platform and is built exclusively for financial institutions. Adlumin is an associate member of the American Bankers Association and its goal is to revolutionize the way financial institutions secure sensitive data and intellectual property while achieving their compliance objectives. With that being said, let’s take a deeper dive into what qualifications an ideal security and compliance platform for financial institutions should have.
How does Adlumin work?
Adlumin’s cloud-native security and compliance platform discovers threats, malfunctions and IT operations failures in real-time, and in seconds, allows customers to comply with industry regulations. The platform also ingests all of your device data including laptops, desktops, servers, VPNs, firewalls and security application data. It lays down a pattern of behavior for every account and system on the network, then runs sophisticated data science across the entire data set looking for, and alerting you to, any anomalous or malicious behavior in real-time.
The company is dedicated to creating a safe cyber environment for all customers. This starts with their cost-efficient platform, which is an attainable solution for almost any organization—small, medium or large. Customers have the capability to monitor and defend their networks locally, in the cloud, and across the globe.
What are the key features of Adlumin’s SIEM?
The platform includes world-class analytics and machine learning, one-touch compliance reporting and automation tools, integrated threat intelligence, 24/7 search for leaked accounts on the deep and dark web, managed compliance, detection and response (MCDR), 90-minute deployment, pricing for any size business and more.
Adlumin’s top features include:
- User & Entity Behavior Analytics (UEBA): Adlumin proprietary artificial intelligence and machine learning algorithms to analyze account-based threats and write SIEM rules. The UEBA data science helps identify, detect, analyze, and prioritize anomalous behavior in real-time. UEBA also provides a 24/7 firewall, VPN log data and network analysis.
- Prevent Privilege Abuse and Account Takeover: Adlumin uses artificial intelligence to detect both known and unknown threats. The platform specifically looks to determine an insider threat, account takeover and privilege abuse or misuse.
- One-Touch Compliance Reporting: Adlumin’s reporting features are developed based on direct feedback from its customers. Reports can be downloaded in seconds and handed directly to financial auditors or they can be scheduled and delivered to your inbox on a weekly, monthly or quarterly basis.
- Compliance Reports Designed Exclusively for Financial Institutions: Adlumin’s platform includes the FFIEC’s Cybersecurity Assessment Tool (CAT), which includes inherent risk and cyber maturity risk models which are built completely into the platform and all questions reflect original FFEIC reports. Adlumin’s compliance tools are intended to make conducting business at your organization easy, convenient and accurate. Examples of the types of featured reports include a privileged account activity report, an account group user audit report, a virtual private network (VPN) network, a network health report, a detection analysis report, a firewall modification report and more.
- Integrated Threat Intelligence in Real-Time: The Adlumin Threat Intelligence Portal (ATIP) searches every day for millions of individual IP addresses that are also known Indicators of Compromise (IoC) across all of our customers incoming device data from laptops, desktops, servers, firewalls, VPN servers, and network security appliances. ATIP provides an intermediate level of FFIEC CAT Domain 2 Compliance as well. The portal also includes two key features:
- Collaborative Defense: Enables this with actionable, community-powered threat data.
- Automated TIP Analysis on Network Traffic: Users will receive notifications in the form of a detection if an incoming event contains an IP address that has been labeled as potentially malicious.
- Managed Compliance, Detection and Response (MCDR): Adlumin’s OVERWATCH 24/7 Security Operations Center (SOC) Service provides a managed service for your Adlumin SIEM to quickly enhances your organization’s threat detection and response times. Get quarterly vulnerability network and host scans with professionally analyzed reports for a global view of the risk landscape. Adlumin provides your team a single point-of-contact for the OVERWATCH service, which makes it easy to manage and locate where to get help if needed. OVERWATCH provides your organization a select group of cybersecurity professionals to track your network traffic detections and alerts 24/7 and provide rapid notification and response for those events that require it, while silently taking action in cleaning up any vulnerabilities to reduce the attack surface in your network. Additionally, OVERWATCH provides you quarterly vulnerability scans, implemented and reviewed by our highly qualified security professionals.The SOC’s key features include:
- 24/7 security and compliance automation and Security Application monitoring
- Real-time Incident Response
- Account privilege
- Compliance Reporting
- Vulnerability Scans
- 360 view of Risk landscape
- 24/7 Search for Compromised/Leaked Accounts on the Deep and Dark Web: Adlumin’s Darknet Exposure Module has the ability to extend your defensive capabilities beyond your firewalls, endpoints, and security devices into Russian ID theft forums and the criminal underground. Adlumin can initiate an automated victim notification and force a password reset of the business domain account that was leaked. This feature offers these three main components:
- 24/7/365 Deep & Dark Web Leaked Account Scanning: Use of collected data to make effective quantification of risks associated with a specified data breach or credential leak, which helps prevent account takeovers and credential stuffing attacks.
- Protect All Domain Accounts: Adlumin determines when a leaked account is potentially useable on the protected network for all network accounts.
- Automated Notification and Password Reset: The platform can initiate an automated victim notification (includes user and security team) and will force a password reset of the business domain account that was leaked.
At the end of the day, the goal is to find a service provider that best fits your company’s values. By shifting the burden to a security and compliance automation platform, these features will do the hard work for you. In return, your organization can focus on its most important goal which is providing high-quality service to customers. Platforms like Adlumin will better enhance the productivity and security of your organization.
Trust Adlumin to Protect Your Financial Insititution
When shopping for a reliable, easy-to-use security and compliance automation platform, it is important to consider features that are going to make your team’s lives easier and play a major role in the productivity of the company. Your bank’s goal should be to find a platform that will improve the overall network health and efficiencies of cyber resources. Trusting a SIEM to do the work your team no longer has the capacity to do, is the quickest way to ensure your network is secure and put your team member’s at ease. Whether you are a large or small bank or monitor millions or billions of dollars in assets, your company deserves to feel like its credentials and network are safe from malicious intruders.
It’s time that we all embrace the advancements in technology and make implementing a next-generation SIEM for financial institutions a requirement, not an option.
Learn more at www.adlumin.com/ABA.