Forcepoint > Case Studies > Egyptian Bank Depends on Forcepoint to Assist in Bridging the Digital Divide

Egyptian Bank Depends on Forcepoint to Assist in Bridging the Digital Divide

Customer Company Size

Large Corporate

Region

Africa

Country

Egypt

Product

Forcepoint Email Security
Forcepoint Web Security
Forcepoint Advanced Malware Detection (AMD)
Forcepoint Next Generation Firewall (NGFW)

Tech Stack

Email Security
Web Security
Advanced Malware Detection
Next Generation Firewall

Implementation Scale

Enterprise-wide Deployment

Impact Metrics

Customer Satisfaction

Technology Category

Cybersecurity & Privacy - Cloud Security
Cybersecurity & Privacy - Malware Protection
Cybersecurity & Privacy - Network Security

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Cybersecurity
Fraud Detection

Services

Cybersecurity Services

About The Customer

The bank was founded in 1975 and today is a publicly traded company offering a full range of financial services which include consumer banking, commercial banking, investment banking, credit cards, mortgage loans, and more. In recent years, the bank has made it a corporate mission to help bridge the digital divide in Egypt and bring financial services to more citizens in a country that ranks just 94th in the world in GDP per capita. This mission has seen the bank invest and participate in wide-ranging projects like the promotion of financial literacy and affordable financial products in poorer segments of Egypt’s population, partnering with other banks in the African Union and European Union in the cross-regional Digital Economy Task Force (DETF), and sponsoring Business Women of Egypt 21 (BWE21), a non-profit supporting women entrepreneurs launching small and medium-sized businesses.

The Challenge

The bank has been a leader in the Egyptian economy by offering progressive digital banking services and increasing financial inclusion for some of the country’s most underserved segments. However, this also means that the bank must safeguard the personal and financial data of some 700,000 retail customers, many of whom are technology newbies. A breach could impact growth and operations while decimating customer trust. After encountering an increase in threats targeting its email communications, the bank turned to Forcepoint for a solution. The bank has seen an uptick in email-based avenues of attack, including executive-level targeted phishing attacks and zero-day attacks via emails sent to its nearly 6,000 employees.

The Solution

The bank and Forcepoint built a solution to counter the rise in email-based threats that integrated Advanced Malware Detection (AMD) with the Forcepoint Web Security and Next Generation Firewall (NGFW) protections the bank was already running and deployed Forcepoint Email Security for the first time. The integration of AMD across all three products was key to taking the bank’s security to the level it was seeking. Forcepoint’s core solutions first assess the broader context of an internet transaction for potential indicators of compromise. After performing static analysis of suspicious files, AMD can perform the deep behavioral analysis necessary to identify zero-day threats, phishing attempts, ransomware, and other modern malware.

Operational Impact

The bank has experienced complete protection from zero-day attacks since integrating Email Security and AMD.
Overall cyberattacks have dropped by 95%, spam has been correctly identified and quarantined at the 99% rate proscribed by the SLA, and Forcepoint’s malware sandboxing approach has delivered 100% detection rates.
As part of the Email Security implementation, employees are alerted to possible phishing attempts and coached continuously in better identifying and avoiding them in the future.
The IT security team is also finding it easier to collect, analyze, and report incidents, trends, and overall data security health with Forcepoint’s real-time reporting tool.

Quantitative Benefit