Advance Financial, founded in 1996, is a family-owned and operated financial services company based in Nashville. The company currently operates more than 80 branch locations throughout Tennessee and offers 24/7 online loan services in nine other states across the U.S. It was recently named to the Inc. 5000 list of the fastest-growing private American companies for the fifth year in a row.
Advance Financial provides a wide range of financial services both in their branch offices and online, which includes cash advances, check cashing, electronic wire transfer, bill payment, prepaid cards, free bill payment and money orders. In fulfilling these services the company processes sensitive customer data, such as personal identifiable information (e.g. social security numbers, drivers licenses), employment data and bank account information for loan processing and bill payment services. For this reason, Advance Financial is required to continuously monitor its networks across all its locations to protect customer data from data breaches as well as satisfy several financial regulations.
“Arctic Wolf’s security experts monitor our networks 24x7 and flag security incidents only when they matter, allowing our IT team to focus more energy around deployments and refining tools. On top of the tremendous cost benefits of the Arctic Wolf™ SOC-as-a-service, Arctic Wolf has provided better visibility and compliance across all our locations.”
Patrick Swint, IT Director, Advance Financial
Protecting Customer Sensitive Data Is Paramount
Advance Financial has a small IT team that is primarily responsible for deploying and maintaining financial applications used by its customers, in addition to managing the IT infrastructure used by its employees. Advance Financial’s customers can walk into any one of its 80 physical branch locations to perform financial and eCommerce transactions using multiple online applications. The company’s security infrastructure includes a portfolio of point security products including antivirus on desktops, perimeter firewalls, cloud access service brokers (CASB), and web content filters. However, this became a problem for Advance Financial’s limited IT staff, as each of these security products generated millions of alerts. The team was overwhelmed, and they knew that security threats were being missed because they couldn’t obtain actionable information as to who, what, when and where the specific attacks were happening.
The team’s primary problems were threefold:
Lacked centralized visibility into alerts from multiple point security products, 120 servers, 700 endpoints, and more than 70 mobile devices deployed across on-premises and cloud infrastructure
Limited expertise to triage and prioritize over 400 million security alerts/month and escalate the few security incidents that expose customer sensitive data
Significant time spent generating customized reports to meet financial regulations (PCI-DSS and GLBA) and demonstrate compliance
Adopting SANS CIS Controls Improves Security Posture
The IT leadership team at Advance Financial was in the process of adopting SANS CIS controls as part of its roadmap when it first considered Arctic Wolf’s SOC-as-a-service solution. During their review, it became apparent that Arctic Wolf's SOC-as-a-service helped provide visibility and customized reports for the following SANS basic CIS controls:
Continuous vulnerability management: External vulnerability scans are run by the Arctic Wolf Concierge Security™ team (CST) on a regular basis to identify assets at risk and prioritize patching strategy in order to improve Advance Financial’s security posture
Use of administrative privileges: Arctic Wolf tracks use of administrative privileges by monitoring the Active Directory and system logs, and flags privilege escalations/misuse
Secure configuration of hardware and software: Arctic Wolf also monitors configuration changes to all devices and systems in Advance Financial’s IT infrastructure
Monitoring and analysis of audit logs: Finally, Arctic Wolf SOC-as-a-service, with its highly scalable cloud-based SIEM platform, can handle more than 400 million log records from over 80 company branch locations and Advance Financial’s online services, and escalate only the handful of security incidents per week that really matter
The Best Customizable SOC-as-a-ServiceArctic Wolf includes everything that Advance Financial sought in a SOC-as-a-service. With the help of a dedicated Concierge Security™ team, Arctic Wolf provides the customized reports Advance Financial needs to easily meet its compliance requirements, and enables the financial firm to adopt SANS Basic CIS controls that improve its overall security posture and reduce business risks.