Safeguarding the Financial Sector
Defending the financial sector from cyber threats is critical because it plays a vital role in the economy, and any disruptions to its operations can have far-reaching consequences. Banks hold sensitive financial and personal data that cybercriminals can exploit for financial gain or used to commit fraud, which can harm customers and damage the reputation of the institution. Additionally, cyber attacks on banks can result in the loss of funds, disrupt financial markets, and even cause systemic risks that threaten the stability of the entire financial system. Therefore, safeguarding the banking sector against cyber threats is essential to ensure the safety and security of customers, the financial system, and the economy as a whole.
The Right Tool to secure your Financial Systems.
Banking System Overview
Logstail Platform offers real-time log analysis and threat detection, allowing financial institutions to identify and respond to potential threats as they happen. By analyzing logs and events across the network, Logstail’s platform can swiftly pinpoint suspicious activity and provide alerts to security teams. Logstail provides also an overview of existing banking systems, tracking their most important functions and the geographies that have emerged in the system. Detailed view of every transaction, the geographical locations from where the transactions are made, the active accounts, the total notifications and the security of the connected device numbers are presented to the user alongside with other supporting information.
Monitoring Network & Netflows
With Logstail platform, enhanced by its embedded cyber threat intelligence, users can autonomously monitor the activity of their IT networks and proactively detect potential threats that may occur in the environment like DDOS attacks or other anomalies such as an intruder or an insider threat trying to gather sensitive information.
IT System health Dashboard
Logstail’ s platform prebuilt System Health dashboards monitor IT and OT system health, ensuring the functionality and efficiency of all technical components. The technical teams have the ability to verify and identify the problems that have arisen in real-time, for example in the event that the bank’s official website is down or in case there is a delay in transactions, to identify which is the defective machine, when it happened and how it occurred the problem, as well as restore the system immediately, saving valuable time and ensuring the availability of all its mission-critical services.
Transactions Observation
Via Logstail’s financial transactions dashboards, relevant teams can monitor the overall performance of the institution by analyzing information about transactions carried out, Equity Ratio, total Loan Volumes, Net Profit and Gross profit, and Payments as examples. Its solution is scalable and customizable to meet the unique cybersecurity needs of each organization, whether it’s a multinational bank or a small credit union.
Why Logstail?
Logstail platform is extremely beneficial for the financial sector when it comes to cyber security and overall performance monitoring for the following reasons:
- Compliance monitoring: The banking industry is subject to strict regulations and compliance requirements, such as PCI DSS and GDPR. Logstail helps the relevant monitor their systems and applications for compliance with these regulations, and generate enriched reports to for regulatory purposes.
- Fraud detection: Logstail monitors for potential fraudulent activity, such as unauthorized access to customer accounts or unusual transaction patterns. By analyzing log data from various systems and applications, Logstail helps the IT and Audit teams to proactively detect and respond to potential fraud incidents in a more effective way.
- Threat detection and response: Logastail can be used to monitor for potential security threats, such as cyber attacks or insider threats. By analyzing log data in real-time, Logstail helps the analysts detect and respond to these threats before they escalate.
- Operational monitoring: Logstail provides insights into IT infrastracture and operations, helping the internal teams troubleshoot issues and optimize the financial systems and applications. This helps the organization as a whole to improve efficiency and reduce downtime.