Swiss private bank EFG erects perimeter defence with ArcSight

Source: ArcSight

ArcSight, Inc., a global leader in Enterprise Security Management (ESM) software, today announced a deal with global Swiss private bank , EFG International to deploy ArcSight Manager, to collate, manage and prioritise the thousands of security events hitting the bank’s perimeter defences each day.

The ArcSight solution, together with project services from Genesis Communication, was chosen by EFG International primarily to provide better network transparency to address perimeter security threats. EFG International has selected ArcSight for security, logging, monitoring, and alerting capabilities, but its advanced correlation engine is the key to protecting against attacks and meeting compliance standards. ArcSight ESM sits on top of EFG International’s current disparate security devices (including firewall, intrusion detection systems, and anti-virus software) and translates and correlates in real-time the data generated by these systems to create a comprehensive security dashboard, to enable incident detection, investigation and isolation for quick remedial action.

EFG International is a global private banking group offering private banking and asset management services, headquartered in Zurich. EFG International’s group of private banks currently operates in 40 locations in 26 countries, employing over 1,100 staff as of June 2006. Due to six years of consecutive growth exceeding the industry average, EFG International identified the need for an enterprise class, security management solution.

"Ensuring the security of our customers’ assets is crucial to our business, and gaining a clear view of our network and threat environment is paramount to continuing to provide high levels of protection against threats to our perimeter and maintaining the integrity of our network," said Claude Bilat, Deputy Head of IT and Security Officer, at EFG International. "The impressive demonstration and evaluation of ArcSight ESM showed that not only would it provide us with this, but it also met all our main selection criteria on compliance with Basel II, reporting, usability and role-based access."

In addition to the security benefits, by prioritising the thousands of security events EFG International deals with each day, ArcSight ESM automatically eliminates harmless network events, including false positives, thereby significantly enabling security personnel to focus on highest priority incidents and improve the overall efficiency of the IT department.

"Given the large volumes of extremely valuable data that international financial institutions possess within their IT systems, they are a major target for malicious attacks from many external sources, including organised crime groups," said Steve Sommer, senior vice president, marketing and business development, ArcSight. "Security of this data and the underlying financial systems is critical, as is the protection of the assets of thousands of customers. The rich set of ‘out-of-the-box’ rules, dashboards and reports provided by ArcSight ESM provides EFG International with the ability to process and correlate massive amounts of security data, allowing them to quickly identify and prioritise security threats and produce the necessary reports for compliance purposes."

The deal took place through ArcSight partner Genesis Communication, Swiss-based specialists in providing innovative solutions for end-to-end monitoring and management of its customers IT security infrastructure and applications.

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