Cybercrime in the FS&I sector: switching to a best-of-suite strategy

Switching to a best-of-suite strategy

The old strategy of buying and implementing best-of-breed products for each individual area of security resulted in a large number of products that didn’t really integrate with each other properly, leaving gaps in visibility and capability. It was also costly and required people who knew how to use each tool.

The best strategy today is a best-of-suite approach. This utilises a selection of high-quality tools, within the same suite, that truly integrate together. Key benefits include:

• Reduced Total Cost of Ownership (TCO) and Increased Return on Investment (ROI) by maximising licensing and integrating products seamlessly
• Vastly improved visibility across the estate enabled by tools that truly dovetail together without gaps
• Reduced cyber risks via seamless automation and orchestration capabilities which provide efficiency and drastically improved response to any form of cyber threat
• Reduced burden on teams – there are no longer hundreds of different products to manage and products can be managed in the same way, or by a vendor such as Quorum Cyber, from one place

With this strategy, businesses can prepare for the worst-case scenario while also defending across the entire IT estate, and also assuming a breach has already occurred.

The best-of-suite approach also adheres to the three zero trust principles:

• Verify explicitly: always authenticate and authorise everything

• Use least-privileged access: limit user access with just-in-time and just-enough-access to tighten data security

• Assume breach: compartmentalise infrastructure to minimise any damage, verify end-to-end encryption and use analytics to detect any threats and strengthen defences.

The zero-trust mantra you’ll see time and time again is “Never Trust, Always Verify”.

This approach is easier to adopt when your security products ‘talk’ to each other seamlessly in a single security stack. A mishmash of uncoordinated products from a number of different vendors is unlikely to be effective. Consolidating to a single security stack makes good sense so that you have a holistic view of the IT estate.

As a Microsoft Solutions Partner for Security, our services have been shown to reduce the effort of our customers’ internal analyst team by more than 90% on average, allowing them to focus on other priorities.

Prepare for the worst day imaginable

Whatever service of products you choose, it’s always best to plan ahead when it comes to preventing cybercrime. In addition to cyber insurance, which is increasingly costly and comes with extra demands, an Incident Response Retainer (IRR) is an excellent extra safety net in the event of a cyber security incident. It can help organisations to minimise any damage, recover IT systems quickly to get their businesses up and running again, and maintain internal and external stakeholders’ confidence and trust.

Our Managed Detection and Response (MDR) service comes with an IRR as standard, in addition to proactive threat hunting to ensure we’re always on the search for any new and emerging threats to your business

With an IRR your organisation will be on speed dial to a team of experienced incident responders who know your systems and can act as quickly as any other emergency service. At Quorum Cyber, our certified incident responders have hundreds of hours and hundreds of incidents behind them. They have helped customers in almost every industry sector recover from potentially damaging situations including large-scale ransomware attacks, supply-chain compromises and Advanced Persistent Threats (APTs). They are ready to help you anywhere in the world, day and night.

An IRR ensures our availability to respond to your incident and, with our commercial agreement in place beforehand, speeds up our time to respond. And time is essential in the event of a cyber-attack.

Today, banks, building societies, insurers and asset management companies depend on our Microsoft-led security strategy to provide visibility into their security posture that they never had with other services providers. They depend on a partner who can guarantee to handle all incidents quickly, transparently and robustly, and document its processes to stand up to scrutiny from auditors. Many of our customers have ambitions to grow whatever the economy so they need a security partner who is able to respond quickly to their demands and be agile enough to support their growth aspirations, all while keeping their organisation secure around the clock as they evolve. In short, our mission is to strengthen your cyber resilience so that you can thrive.

If you would like to learn more about our services or discuss anything related to cyber security or data security, please contact us on 0333 444 0041 or via [email protected].