Secure Trust Bank

About the customer

Secure Trust Bank is an award-winning UK retail bank which has been providing finance solutions to UK customers for over 70 years. Today it offers savings accounts and lending services to over a million customers, with a vision to become the most trusted specialist lender in the UK.

The challenge

With a very capable team of cyber security analysts in-house, Secure Trust Bank was looking for a partner to deliver a 24/7 SOC (Security Operations Centre) service overlaid across its existing SIEM (Security Information and Event Management) and MDR (Managed Detection and Response) solutions.

An always-on SOC provides real-time threat detection and immediate response to security alerts generated from across all company systems, from the Microsoft estate to network firewalls and cloud resources. This proactive management of cyber security alerts is critical for protecting data, complying with regulations, and maintaining customer trust.

The goal wasn’t just about upgrading technology; the focus was on the people, the approach, and the partnership. The bank was looking to develop a true partnership with a capable organisation that offered the flexibility and personal approach that would enable them to function as an integral extension of its own security team. They needed a partner that would:

• Act as an extension of the in-house security team.
• Ensure open lines of communication, provide a flexible and collaborative approach, and give the bank’s staff confidence in the skills and experience of the whole team of analysts.
• Provide breadth and depth of experience and scale, while retaining a personal and tailored service.
• Consistently update and change the service on a monthly basis to keep ahead of the changing threat landscape.

 “Partnering with Wavenet has been a game-changer for Secure Trust Bank. From the outset, the team demonstrated a deep understanding of our regulatory landscape and the critical importance of robust cybersecurity in financial services."

Matthew Froggatt

Director of Technology Infrastructure and Architecture at Secure Trust Bank

The solution

After reviewing the available SOC services on the market, Secure Trust Bank narrowed the field down to three providers with the relevant accreditations, scale and governance in place. Then it became a question of the people and their approach. We opened our doors, providing direct access to analysts, department heads, reference customers, and direct links into the senior leadership team. This allowed Secure Trust Bank to test and probe the experience, maturity and culture of the team it was signing up to work alongside. We were able to build out a CyberGuard solution which exactly matched their defined requirements. This included:

• Managing the bank’s Defender MDR and Sentinel SIEM configuration.
• Investigating and responding to all security alerts within a defined SLA (service level agreement).
• Providing direct access to the highly skilled security analysts with deep industry experience via a dedicated Microsoft Teams channel, for 24/7 live support, actionable intelligence, strategic advice, and collaboration.
• Monthly service review meetings to ensure the configuration is maintained, and any planned changes are discussed and prepared for in advance. 
  
  

"The onboarding process was seamless, and the team's proactive approach to threat detection and response has already added measurable value to our security posture. Wavenet’s expertise, responsiveness, and commitment to excellence have exceeded our expectations, and we’re confident it’ll continue to be a strategic asset in safeguarding our operations."

Matthew Froggatt

Director of Technology Infrastructure and Architecture at Secure Trust Bank

The results

We implemented the new SOC service within the planned timeframe, introducing a new configuration and rule set. The teams soon integrated and started to build the relationships and deeper business understanding which proves integral to an effective security service.

Key benefits of the improved service include:

• Round-the-clock monitoring with continuous, 24/7 threat detection and incident response to safeguard the bank, reducing the risk of data breaches and cyber-attacks
• Proactive threat hunting for emerging threats with immediate incident response
• Reduced alert volume and ingestion costs when compared to the legacy configuration

• Direct collaboration between Secure Trust Bank’s internal analysts and our dedicated CyberGuard team, meaning access to a greater pool of resources and expertise.
• Open lines of communication at all levels across our business, ensuring transparency, and giving confidence and peace of mind that any incident will be treated with the urgency it deserves, and escalation paths are open at all times if needed.
• Improved reporting and service management calls, to ensure value is added through each monthly review call.
• An adaptable operation that evolves with the bank, incorporating the latest threat intelligence and security best practices.
  
  

 “The project went well, from scoping through to negotiation and delivery. We are looking forward to working with Wavenet on additional services in the future and continuing to build a partnership with Wavenet which will enable us to consolidate our IT spend down to fewer more strategic suppliers.”   

Matthew Froggatt

Director of Technology Infrastructure and Architecture at Secure Trust Bank

If you’d like to find out more about how Wavenet could help your business with the areas covered in this case study, then get in touch at enquiries@wavenet.co.uk.