NetForensics, Inc., the pioneer and recognized market leader in Security Information Management (SIM), today announced that New York-based M&T Bank Corporation, a financial institution with $52.9 billion in assets, relies on netForensics nFX Open Security Platform (nFX) to address regulatory requirements and provide ongoing visibility into the organization's risk and security posture.
nFX OSP helps organizations secure their enterprises through the use of monitoring and historical analysis tools which aggregate and correlate security data to meet risk and compliance management needs.
M&T Bank required a solution that would enable them to bring third-party security monitoring back in house to reduce overall costs, and a solution that assured the availability of measurable data to support strict accountability controls. In selecting a SIM solution, M&T Bank had three very specific requirements: customizable asset reporting groups by regulation or application group for compliance and audit reporting; increased visibility of security events within disparate platforms and applications; and monitoring of asset vulnerabilities while leveraging all team skills using standardized response instructions
"With increasing regulatory demands and ever evolving threats, M&T Bank needed to monitor an increasing population of platforms and applications," said Matthew M. Speare, Administrative VP, Corporate Information Security Officer, M&T Bank. "netForensics has given us the ability to introduce new monitors in hours, not days. We can react to the threats, measure our effectiveness and have ongoing full visibility of our risk posture."
The nFX OSP solution provides asset tagging and reporting capabilities to create the real-time views required to remediate threats to the critical areas of the infrastructure quickly. Deployed console views and an embedded knowledge base enables M&T Bank to recognize incidents and engage required resources as needed.
"We help organizations like M&T bank build a "sense and respond" environment needed to improve threat identification, reduce risk, and meet compliance requirements," said Dennis Cline, CEO of netForensics. "Our products, services and best practices optimize security operations by creating a SIM backbone that transforms raw security event data into actionable information."