Empowering Compliance Excellence with Robust Cybersecurity: A Partnership with QualiZeal
Location
US
Industry
BFSI
Year
2024
Overview
The client is a market-leading provider of compliance management solutions, serving over 200 enterprise clients, including 80% of the top 25 financial services firms. Their platform transforms compliance and regulatory management with workflow-driven processes, data integration, regulatory insights, automated validations, business process automation, and comprehensive compliance dashboards. By improving efficiency, simplifying reporting, and reducing manual efforts, the client enables financial institutions to mitigate risks tied to non-compliance and navigate complex regulatory environments with ease.
Challenges
Issues
Direct Business Challenge
Security Gaps in Web Applications
With over 300 pilots regularly submitting receipts from various locations across Europe, the company deals with an enormous influx of receipts annually, ranging from 220,000 to 1 million. Many of these receipts involve Value Added Tax (VAT) charges, adding complexity to the processing requirements.
Network Infrastructure Vulnerabilities
The client’s network infrastructure was at risk from potential vulnerabilities that cyber attackers could exploit. With interconnected systems supporting various financial institutions, a highly secure network environment was crucial. The existing infrastructure had weak points that could be targeted, jeopardizing both the client and its clients. Securing the network was essential to prevent unauthorized access, data breaches, and other cyber threats.
Inefficient Handling of Alerts from SIEM and EDR
The client’s security team struggled with the overwhelming volume of daily alerts from their SIEM and EDR systems, many of which were false positives. This inefficiency led to missed threats and delayed responses, increasing the risk of undetected cyber threats and placing a heavy burden on the security team.
Qualizeal’s strategic & tactical solutions
Impact
Strategic & Tactical Solutions
Comprehensive Web Application Security Enhancement
QualiZeal implemented thorough web application security testing using dynamic and static methods to uncover vulnerabilities. Regular security audits and penetration tests were conducted, and advanced authentication mechanisms like multi-factor authentication were deployed. This proactive approach fortified the client’s web applications against potential cyber threats and breaches.
Comprehensive Network Security Assessments, Firewall Optimization, WAF Implementation
QualiZeal conducted detailed security assessments of the client’s network infrastructure. Firewall rules were optimized for better protection, and Intrusion Detection/Prevention Systems (IDS/IPS) were maintained to monitor and defend against network threats. These measures significantly reduced the risk of cyberattacks, safeguarding the client’s critical network infrastructure.
Improved SIEM & EDR Policies and Streamlined Alerts
QualiZeal enhanced the client’s SIEM system by implementing advanced analytics and tiered alerting for efficient threat prioritization. Automated response playbooks were integrated, and security policies were reconfigured to improve threat detection accuracy and reduce false positives. This streamlined approach allowed the client’s security team to address real threats more effectively and promptly.
Value Delivered
Reduction in web application vulnerabilities
0
%
Decrease in potential exploit points identified during assessments.
0
%
Reduction in false positives from SIEM and EDR systems.
0
%
