FIA Tech Enhances Security with Expel’s Managed Detection and Response
Technology Category
- Cybersecurity & Privacy - Cloud Security
- Processors & Edge Intelligence - System on a Chip
Applicable Industries
- Cement
- National Security & Defense
Applicable Functions
- Sales & Marketing
Use Cases
- Tamper Detection
- Time Sensitive Networking
Services
- Cloud Planning, Design & Implementation Services
- System Integration
About The Customer
FIA Tech is a leading technology provider to the exchange traded derivative industry. It supports 8,000 organizations around the world that are involved in trading futures and other derivatives. Its customers include clearing firms, banks, exchanges, and buy-side institutions. Since its launch in 2007, FIA Tech has worked with the industry to develop and provide key services and technologies which help market participants reduce risk, mitigate operational costs, and meet market and regulatory challenges. In 2021, FIA Tech announced a $44 million investment by ten leading banks to fund its strategic growth, which led to increased security requirements.
The Challenge
FIA Tech, a leading technology provider to the exchange traded derivative industry, faced a significant challenge in 2021. After announcing a $44 million investment by ten leading banks to fund its strategic growth, the company had to deal with increased security requirements. Pat Lefler, the senior vice president of risk and information security, and his team developed a three-pronged approach to increase visibility into its endpoints, network, and cloud services. They set up new endpoint protection with Carbon Black, SIEM and log file aggregation with Sumo Logic, and integrated Palo Alto’s Prisma through Panorama, as well as their cloud security signals from Microsoft and Amazon Web Services (AWS). However, they lacked the resources to monitor the myriad alerts they were receiving. They needed a Security Operations Center (SOC) that would integrate well with FIA Tech’s existing tech and could start monitoring quickly, given the rapid growth of the organization.
The Solution
FIA Tech decided to look externally for a managed detection and response (MDR) partner. They evaluated several providers, but many didn't integrate well with their existing solutions. Eventually, they were recommended to Expel. Expel stood out due to its ability to support FIA Tech’s existing security tools, its ease of integration, and the positive working relationship developed during the sales process. Expel integrates with Carbon Black, Sumo Logic, Microsoft Azure, O365, and AWS, which were the pillars of FIA Tech’s security program. Moreover, Expel could integrate with FIA Tech’s existing tech investments through APIs instead of agents, which was a significant advantage. The partnership with Expel provided FIA Tech with a fully ramped, expert SOC with deep experience and expertise for less than the cost of hiring an additional junior technical team member.
Operational Impact
Quantitative Benefit
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