ObjectWin enhanced Cyber Security for a BFSI client through a multi-phase solution, including risk assessments and advanced threat detection. Their advisory ensured compliance with PCI DSS and GDPR, leading to a 98% reduction in phishing attacks and significant cost savings by preventing data breaches.

Client Objective

Strengthen cyber security by upgrading defenses, ensuring compliance with PCI DSS and GDPR, modernizing legacy systems, and establishing proactive real-time monitoring.

Challenge

The client was facing several Cyber Security challenges:

Increasing Cyber Threats
They were receiving numerous phishing attacks, malware attempts, and intrusion attempts targeting their sensitive data.

Lack of Real-Time Monitoring
The existing security framework was reactive, meaning incidents were often detected after they had caused damage.

Regulatory Compliance
They had to meet stringent compliance requirements such as PCI DSS (Payment Card Industry Data Security Standard) and GDPR (General Data Protection Regulation) while ensuring their security practices were up-to-date.

Legacy Systems
The company’s IT infrastructure included legacy systems that were vulnerable to attacks and posed significant security risks.

Approach

We delivered a comprehensive, multi-phase Cyber Security solution tailored to the financial services industry’s needs, focusing on risk reduction, real-time threat monitoring, and regulatory compliance.

Initial Risk Assessment and Security Audit
We began by conducting a thorough Cyber Security audit, identifying weaknesses in their infrastructure, including unpatched systems, misconfigurations, and insufficient encryption of sensitive data. This step provided a complete understanding of their security posture and highlighted critical areas for immediate improvement, including:

• Unpatched vulnerabilities in legacy systems
• Outdated firewall configurations
• Lack of centralized monitoring and real-time threat detection

Implementation of Advanced Threat Detection and Monitoring
We deployed an Advanced Threat Detection System across their network, allowing:

• 24/7 real-time monitoring of potential threats, including malware, phishing attempts, and insider threats
• Automated alerts for suspicious activity, enabling rapid response before incidents escalated

Using advanced AI-driven analytics, the system reduced the noise of false alerts, ensuring their IT security team focused on critical threats.

Data Encryption and Privacy Protections
Given the high volume of sensitive financial transactions, we implemented robust data encryption protocols across all endpoints, ensuring that:

• All financial data and Personally Identifiable Information (PII) were encrypted both at rest and in transit
• Access to sensitive data was restricted using Multi-Factor Authentication (MFA) and strict role-based access controls
• Data Loss Prevention (DLP) strategies to prevent unauthorized sharing or leakage of critical information

Cloud Security and Compliance Management
To ensure compliance with PCI DSS and GDPR, we integrated cloud security solutions that protected their cloud-hosted applications and data. This included:

• Security Information and Event Management (SIEM) to consolidate and analyze security data in real-time
• Regular compliance reporting, ensuring the client was always audit-ready
• Ongoing compliance monitoring and helped the client align their data protection policies with international standards

Employee Cyber Security Awareness Training
We recognized the importance of human error in cyber vulnerabilities. To address this, we developed a tailored cybersecurity training program that included:

• Phishing simulation exercises
• Best practices for password management and device security
• Incident reporting protocols

Results

Our Cyber Security solution delivered measurable benefits for the client, significantly enhancing their security posture:

98% reduction in successful phishing attacks
Following the training and deployment of anti-phishing measures, the firm saw a massive drop in successful phishing attempts.

Improved Legacy System Security
Legacy system vulnerabilities were addressed through patch management and virtual private network (VPN) segmentation, securing areas of the infrastructure previously exposed to threats.

Regulatory Compliance Achieved
With our governance, risk, and compliance (GRC) strategy, the client achieved full compliance with both PCI DSS and GDPR standards. Ongoing audits were passed without issues, and the client was ready for future regulatory challenges.

Cost Saving
By preventing a potentially catastrophic data breach, the company saved an estimated $5 million in breach-related costs (including potential fines, legal fees, and reputational damage).

Real-Time Threat Detection and Incident Response
The client now had a proactive security environment, detecting threats before they could cause significant damage. An automated incident response system reduced the average response time to potential threats from days to minutes.