Advanced Cybersecurity Considerations for Community Banks

If your community bank is considering moving beyond your current Security Information and Event Management (SIEM) system, you’ve come to the right place. Traditionally, SIEM technology has been primarily utilized for logging, data retention, and compliance purposes. However, advancements in this field have expanded its role towards more effective threat identification and detection.

Extended Detection and Response (XDR) solutions take SIEM solutions to the next level by ingesting data from logs across the entire network and increasingly leveraging artificial intelligence (AI) and machine learning (ML), surpassing the capabilities of legacy systems. These innovations revolutionize security operations, enabling community banks to achieve superior threat detection and response capabilities.

Why Should Community Banks Consider Advancing their Cybersecurity?

Several key factors drive the demand. The ongoing migration to cloud environments calls for updated cybersecurity solutions capable of handling cloud complexities. Moving to XDR can significantly improve the speed at which threats are identified and mitigated, improving response time. Finally, users seek integrated data solutions offering a cohesive security overview.

Given these dynamics, let’s explore three things to consider when deciding to move beyond SIEM:

1. Scalability and Performance:

   Ask yourself, can this new solution handle a surge in data as your company grows? Whether due to a merger or organic growth, you need an XDR that can scale up seamlessly. Futureproofing your current solution ensures it won’t collapse under the pressure of increased data or more sophisticated attacks.

   In addition, consider the ability to maintain high performance even as your data grows. Will it start to lag or slow down with more logs and events to process? Moving beyond SIEM should enhance your ability to detect threats quickly, not hinder them.

2.  Integration and Compatibility:

   While XDR solutions have advanced considerably, ensuring that the new system will seamlessly integrate with your existing infrastructure remains essential. Choose a solution that can connect with your security tools, applications, and network devices. The smoother the integration process, the quicker you can start reaping the benefits of your new system without experiencing extensive downtime or transitional issues.

   Ensure the chosen solution offers APIs for integrating third-party tools and custom applications. Effective APIs are crucial for transforming your upgraded solution into a central hub for all security data, providing a comprehensive view of your security landscape.

3.  Advanced Features and Capabilities:

   Selecting the right cybersecurity solution for your community bank hinges on your specific needs. You must consider your unique requirements for threat intelligence, database or application monitoring, industry-specific solutions, and compliance reporting. The frequency of updates to threat detection rules and their customizability should also be considered. 

   Community banks with advanced security operations should look for a unified security operations platform from a single vendor. This platform should include capabilities to automate routine tasks, orchestrate workflows across different security tools, and respond to incidents quickly, which can free up your team to focus on more critical threats and operational initiatives.

Finding the Right Solution 

Are you ready to move beyond your SIEM and take your cybersecurity to the next level? To learn more, request a demo.

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