Industry: Financial
Location: Europe
Profile: This client is a Top 10 leading bank in Europe
Client issue
The client engaged with LRQA following a failed cyber audit test. This meant that the client’s environment was not being adequately protected and that the client was not meeting regulatory requirements. To ensure business continuity and cyber resilience, the client required an experienced and reliable cyber security provider.
Possible impact
The possible cost of ISO & GDPR non-compliance:
• Reputational damage following a breach
• Fine of up to £10 million or 2% of the bank’s global annual turnover
• ICO (Information Commissioners Officer) temporary/permanent ban on the organization storing personal data
• Third-party litigation
LRQA’s solution
LRQA’s SOC-as-a-Service provides highly accredited expertise. Our approach is proactive and threat-led; informed by our offensive and threat intelligence teams to shape our defensive stance. This helps to protect against the latest industry threats providing in-depth detection and alerting capability.
Results
Key results
• Improved security posture
• Established a better control of the network
• Clear visibility of security events
• Swift guidance on areas of improvement
LRQA’s SOC services, along with our Network Security Consultants aided the client established better control of their network. This ensured not only a solid improvement of their security posture but the ability to implement improvements to satisfy future audits.
The client continued to not only effectively protect their digital environment, but also benefited from additional security consultancy. LRQA provided value and experience including recommendations on process improvements and other activities which further enhanced their existing security.
What our client said
“LRQA demonstates the high standards expected by financial institutions and has a superb knowledge of what is required by the finance sector. We have new benchmarks, defined by the regulators, in which resellers must be categorised.
LRQA is always green. We are always happy with the outcome and have witnessed a substantial amount of benefits in comparison to previous providers.”
