Bank on BriteProtect to Keep Your Financial Institution Safe

At a Glance:

• Financial services firms are way more likely than other companies to be targeted by cyber criminals.
• Brite has the cybersecurity solution for financial institutions: our Managed Open XDR platform called BriteProtect.
• This solution integrates your existing security tools and data sources into a single detection and response platform, leading to improved risk management, reduced complexity, removal of blind spots, advanced threat protection, and more.

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While cyber attacks can happen to any organization in any industry, financial services firms are especially susceptible. In fact, they are 300 times more likely than other companies to be targeted by cyber criminals.

The effects of these attacks can be devastating, particularly from a financial standpoint. When it comes to the sectors with the highest costs associated with data breaches, finance comes in second, with an average cost of nearly $6 million.

In one high-profile case of cyber crime, Target agreed to pay $18.5 million to settle claims resulting from a massive data breach in late 2013, in which hackers stole data from up to 40 million credit and debit cards of shoppers. The hackers had accessed Target’s gateway server through credentials stolen from a third-party vendor, which is a common vulnerability among financial institutions.

Not only can cyber attacks be quite literally costly, but they can also have other major negative consequences, including loss of customer trust, negative media coverage, brand damage, and lower employee morale, to name a few.

And while having security tools in place can help combat these attacks, unfortunately, problems such as too much data, not enough resources to respond, and security blind spots can render these measures inefficient.

Thankfully, there is an answer to this problem: Managed Open XDR (Extended Detection and Response). This AI-powered cybersecurity solution integrates your existing security tools and data sources into a single detection and response platform, leading to improved risk management, reduced complexity, removal of blind spots, and advanced threat protection, among other numerous benefits.

At Brite, we proudly offer unparalleled protection through our own Managed Open XDR service called BriteProtect. This comprehensive solution is leveraged by our Security Operations Center (SOC), which provides 24/7 support from our experienced US-based employees.

Let’s take a closer look into what BriteProtect is and how it will help with financial data protection.

General Overview

So, how does BriteProtect work? Well, first, it gathers large amounts of data from all your existing security tools into one unified platform, then analyzes and correlates the data. This allows the most important alerts to filter to the top so you can make informed decisions quickly.

By mapping out over 50,000 detections of known and unknown behaviors against the cybersecurity kill chain, BriteProtect’s XDR platform acts as an early warning detection system. Unlike other solutions in the market, BriteProtect has complete kill chain detection because of its rich data collection and correlation.

When a threat is detected, our analysts use customized playbooks for swift escalation or remediation. The power of our Open XDR platform lies in its rapid response capabilities, enabling analysts to neutralize attacks directly from within the BriteProtect platform, thereby eliminating inefficiencies.

Lastly, Brite will manage or co-manage your cybersecurity efforts, so you can focus on the aspects of your institution that matter the most. We offer 24/7 expert-managed services provided by our very own US-based Brite employees, ensuring immediate assistance when you need it. With BriteProtect, you can leverage your existing security investments and rest easy while we detect, respond, and neutralize cyber threats in real-time.

Some more key features of BriteProtect include:

• Exposure Management: Expose and close your cyber blind spots.
• Advanced Threat Protection: Threat protection that stops cyber-attacks before they start.
• User Awareness Education and Training: Empower your team to outsmart cyber threats with industry-leading training.
• Zero Trust: Implement a Zero Trust model that strengthens your security posture on all fronts.
• Continuous Optimization: Our machine learning engine is continuously refined through client-specific feedback. Standard incident response playbooks are tailored to align with your goals, ensuring our approach evolves with your needs for optimal effectiveness.

Conquering Common Challenges

From ransomware to alert fatigue, BriteProtect solves a variety of common cybersecurity problems plaguing financial services institutions, including the following:

Ransomware: BriteProtect detects indications and prevents ransomware before it causes operational and financial impact.

Phishing: Sophisticated phishing attempts can bypass traditional security measures. We combine cutting-edge AI-powered filtering with personalized employee phishing simulations for multi-layered protection.

Compliance: Keeping up with complex and ever-changing data protection regulations is challenging. Our experts stay up to date on the latest regulations, conduct thorough assessments, and help you build a compliant infrastructure that meets all requirements.

Alert Fatigue: Our Open XDR solution addresses the challenge of excessive data and limited resources by normalizing and correlating information from all your security tools. This comprehensive approach uncovers complex attack patterns and indicators of compromise (IOCs) that standalone systems may miss. With advanced automation and threat intelligence, we enhance your security posture, allowing your team to focus on genuine threats while we manage the noise.

How to Get Started

OK, so you’ve chosen BriteProtect to help safeguard your institution against cyber attacks. What now?

First, we review your current cybersecurity infrastructure and create a tailored game plan to help you boost your approach. We then seamlessly integrate our wide-ranging cybersecurity solutions that will help identify vulnerabilities and protect your organization against threats. Our solutions are scalable, too, so your cybersecurity evolves as your company does.

Lastly, as we mentioned previously, we will manage or co-manage your cybersecurity for you and provide ongoing 24/7 support from our dedicated US-based employees. This ensures that you get the help you need whenever you need it.

A Wise Investment

Keep your financial firm’s assets and data in mint condition by investing in BriteProtect today! Contact us at 1-800-333-0498 or SalesInfo@Brite.com.