Addressing Compliance Requirements of Dutch Financial Services Client
Overview.
The client is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Customers’ primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$1.1 trillion, it is one of the biggest banks in the world. The customer wanted to implement key security initiatives to increase its audit rating and reduce operational risks. Coforge set up 24x7x365 security operations center for the customer and define frameworks and processes to improve the customer’s security posture and compliance audit ratings.
The customer had to comply with the new regulations of SOX and Basel-II applicable to its environment. The customer was looking for a vendor who can help them assess their infrastructure based on the new regulations and help them implement the required tools and processes to rectify the identified gaps. As part of the engagement, customer also wanted the vendor to set up a SIEM solution and provide investigation and administration support.
Solution.
Coforge collaborated with the customer to help them successfully address their compliance requirement and set up SOC operations. Coforge’s solution included:
Implementation of a Security Monitoring system, framework, and monitoring process that spans across existing IT systems, applications, and networks providing a ‘cradle to grave’ incident management and reporting system.
Performed security compliance assessment of the IT infrastructure, designed and implemented the policies and process to meet the compliances.
Security framework & SIEM implementation.
Deployment of skilled resources for 24x7 security monitoring & administration.
SIEM web console, agents, and centralized risk dashboard development & modernization.
The impact.
Agile implementation from POC to production in 3 months.
24x7x365 Rapid IT Security Detection and Response.
Reduce time for threat mitigation & containment.
Adherence to SOX and BASEL-II compliance.
Continuous use-case development and optimization which delivered 10% improvement in productivity, false positive reduction & Automation.
