Case Study
Thinkmoney's Managed Security Service Provider
Managed Security Services for Enhanced Cyber Defence in a Leading Financial Institution.
The Client
Thinkmoney
Thinkmoney, a UK-based digital banking firm established in 2003 and headquartered in Manchester, provides accessible and inclusive financial services. The company offers a range of financial products designed to assist customers with everyday budgeting and money management.
Its mobile banking app features enhanced mobile wallet functionality, card processing and settlement, and connectivity to various payment schemes, ensuring seamless and efficient payment services for its customers.
Previously we worked with Thinkmoney on a number of penetration testing projects, but they wanted to take their cyber security one step further.
Overview
Security Overview
Thinkmoney had previously employed a third-party security services provider, which initially provided a good match for their banking platform. However, as they evolved, capability gaps began to emerge, along with declining levels of service performance and effectiveness.
This drove Thinkmoney to seek a managed security service provider (MSSP) to mature their cyber security posture.
Working Together
Why CybaVerse?
Several factors influenced Thinkmoney's decision to select CybaVerse's MSSP service over other providers. The existing relationship fostered trust and a deeper understanding of Thinkmoney's needs.
"CybaVerse demonstrated consistently high performance levels and was regarded as a trusted supplier with robust capabilities and innovative approaches. Their wide range of services, including advanced threat detection and proactive security measures, aligned perfectly with Thinkmoney's requirements."
Onboarding Experience
Getting Started
"The onboarding process was very smooth and without incident; the easiest roll-out of MSSP services that I've experienced in years.
The implementation was well planned out, conducted in a collaborative manner and continuing support was provided to ensure that our capabilities were operating within agreed parameters and all of the desired and required SLAs were being met."
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UK Digital Banking Firm
Mobile Banking App
MSSP Services Required
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Efficiency and Support
Working with CybaVerse
"Since working with CybaVerse, the increased performance of the SOC service has reduced the amount of time my team has had to spend assessing and reviewing potential security alerts and incidents.
Our efficiency has definitely increased and we are able to automate a lot more of our work as a result of the toolsets now at our disposal.
Their customer support has always been excellent, making it easy to raise service tickets when needed. CybaVerse consistently provides fast responses to any issues raised, ensuring efficient and effective resolution."
Performance
The MSSP Benefits
"We've saved considerably on the cost of operating a 24/7 SOC and Tier 1 incident response capability. Response times have also improved, as has the quality of detections and incidents passed to my team for analysis. The false positive rate has been lower than with our previous MSSP and I've always been fully confident that the SOC is operating to a very high standard."