• 70% reduction in spin-up time

• 50% reduction in false positives

• 60% improvement in efficiency

The challenge

Swedbank has been offering savings, loans and payments to private and corporate clients for over 200 years. Today, they tend to over 7 million private and 553,000 corporate clients across the world.

The bank had a number of cybersecurity challenges that it was looking to overcome, primarily implementing a new platform that would better protect the organisation from internal as well as external threats.

As part of this optimisation, Swedbank needed a team that would help them any detect malicious activity from users. As a financial institution, it was paramount for Swedbank to be able to build out existing security measures to prevent data breaches.

Another key objective for Swedbank was to improve its PCI compliance, and make the processes around compliances more efficient, by using appropriate software.

Lastly, Swedbank needed secure software and workflows that supported its regulatory obligations around customer data retention.

To meet the bank’s requirement for a platform that was both PCI-compliant and adhered to the company’s data retention policies, Swedbank opted to implement cyber security platform Exabeam as a solution. Exabeam recommended several of its partners to Swedbank to help the bank implement and optimise its new platform, and achieve its goals. Swedbank chose RiverSafe.

The solution

Using its technical expertise and transparent approach, RiverSafe got to work on bolstering Swedbank’s SIEM (Security Information and Event Management) platform; one of the largest in Europe.

The process began with the RiverSafe team conducting an in-depth analysis of Swedbank’s cyber environments. Following this assessment, RiverSafe were able to review and optimise security processes, suggest improvements to practices, and better align workflows with the firm’s compliance goals.

The RiverSafe team integrated Exabeam into Swedbank’s systems, using their product expertise to equip the organisation with vital tools and best practices needed to help it meet its specific requirements.

RiverSafe also implemented a large data lake cluster for Swedbank, and ensured all data on the platform was secured to the highest possible standard as required by the banking industry.

The outcome

After streamlining Swedbank’s system, conducting data integrity checks, and expunging unnecessary data, RiverSafe achieved some fantastic results, including:

• 70% reduction in spin-up time, optimising work productivity
• 50% reduction in false positives
• 60% improvement in efficiency
• Implementation of compliance best practices around PCI
• Strengthening Swedbank’s overall security posture

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