Building a Cybersecurity Dream Team for FinServ
Company Overview
FinServ is a financial services company that provides digital banking. The firm was hit by a succession of cyber attacks very rapidly, and it needed to build up its cybersecurity infrastructure. The company required top cybersecurity professionals who would spearhead and execute their new digital security policy, including vulnerability assessments, threat intelligence, and compliance monitoring.
Client Requirements
- FinServ needed
- Availability of cybersecurity experts with proficiency in threat detection, vulnerability assessment, and financial industry compliance standards immediately.
- A project-based team that could handle specialized work on a tight schedule toward the short-term and long-term goals of cybersecurity.
- Flexible contract-based roles to prevent long-term commitment, given the project scope is subject to change by evolving security needs.
- An association that can verify and authenticate the certifications and experience in cybersecurity of candidates to ensure expertise.
Solution Approach
- Talent Pool Customization: Algo Soft Solutionsis drew upon its talent network with speed to source cybersecurity professionals with specialized experience in financial services compliance and threat intelligence.
- Certification and Expertise Verification: Because of the intense regulatory compliance requirements in finance, Algo Soft Solutionsis made sure to verify candidates’ certifications (e.g., CISSP, CISM) and screened their expertise with rigorous technical screenings.
- Flexible, project-based staff: Algo Soft Solutionsis also deployed a contract-based staff model where FinServ could upscale or downscale the cybersecurity team according to their needs. In terms of the contract, Syssol had agreed upon flexibility in terms, so if the contractors are needed as permanent hires due to any requirements by FinServ, they could apply this flexibility.
- Continuous Support and Management: Syssol provided account management on an ongoing basis, checking with both FinServ and the contractors for alignment in goals, timelines of projects, and conformance to security standards.
Outcome
Algo Soft Solutionsis was able to install an in-house team of 12 cybersecurity professionals within two months who were very quick in initiating vulnerability assessments, establishing security monitoring systems, and making compliance checks against regulations. During the first quarter of deployment, FinServ’s data breach risk was reduced by 30% as it immediately yielded value and gave peace of mind.