• Home
  • Who Attends?
  • Speakers
  • Key Themes
  • Agenda
  • Download Prospectus
  • Plan your visit
  • Register Now

Fintech Talents

Fintech Talents

Kallyas is an ultra-premium, responsive theme built for today websites.

T (212) 555 55 00
Email: sales@yourwebsite.com

Your Company LTD
Street nr 100, 4536534, Chicago, US

  • Home
  • Agenda
  • Who Attended
    • SPONSORS
    • SPEAKERS
    • ATTENDEE LIST
  • Register your interest
  • Image Gallery
    • Party Pictures

Content

STAY TUNED

Fortune 500 Bank Relies on Segasec to Foil Advanced Phishing Attacks

by Our Community / Thursday 18 October 2018 / Published in Customer Experience, Data Privacy, Fintech, Innovation, Security, Start-ups

Segasec’s customer is a Fortune 500 multi-channel bank and one of the most respected financial institutions in Europe. The bank serves millions of private clients and small and medium-sized enterprises worldwide via hundreds of branch offices, insurance agencies and electronic channels. Among the bank’s services are debt capital, domestic cash equity, corporate banking, private banking, leasing, factoring, reinsurance, private equity and project and trade finance.

The Problem

During the first half of 2018, the average number of cyber attacks per banking institution rose to 520, compared to 207 per bank during the same period last year. “When the bank came to us for a solution, they were under constant phishing attack,” said Segasec CEO Elad Shulman. The bank’s cyber logs and records showed nearly 1,000 malicious activities each month, targeting bank customers and their financial assets and jeopardizing the bank’s reputation and customer trust.

These phishing attacks were not detected in time, and once they were detected, it took the bank days, sometimes weeks to take them down. In the meantime, some customers fell victim to the scams and lost valuable assets. While the bank had deployed anti-fraud and other cyber security tools, these systems were not able to detect advanced phishing schemes or to cope with an attack.

The Solution

“Traditional anti-phishing solutions can only react to an attack in progress, and that’s a big limitation,” explains Elad Schulman. “At Segasec, we have developed a proactive and preemptive approach that successfully detects and monitors the online preparations for a phishing attack, and is able to disarm the attack within minutes of launch – before users are exposed to the scam,” continues Schulman.

With Segasec monitoring the web for phishing activity against this Fortune 500 bank, phishing attacks are now disarmed and blocked within seconds of launch, before bank customer are exposed.

Using a full list of the bank’s URLs and other online assets, the Segasec solution began active and passive monitoring of the web, enabling early detection of phishing attacks involving the bank, and timely take-down of the attack. In addition, Segasec is strengthening the efficacy of existing fraud prevention systems by simulating controlled and evolving attack scenarios that provide vital cyber intelligence for the bank’s protective shield strategy.

Results

Now that Segasec’s solution is monitoring the web for phishing activity against the bank 24/7, phishing attacks are disarmed within minutes of launch, and at most, within an hour or two. This is a tremendous improvement compared to the days and weeks it used to take to stop an attack. Even though cyber attacks evolve and continue apace, customers are no longer exposed to phishing attacks during their online interactions with the bank, enabling the bank to protect its stellar reputation and customer trust.


Tagged under: case study, FinTECHTalents, Segesec, Splash

Recent Posts

  • In conversation with Tribe Payments at FTT Embedded Finance & Super Apps

    ...
  • digital identity digital economy

    Digital identity for a digital economy

    At Future Identity North America on May 12th, w...
  • online gaming identity

    Winners, losers & fraudsters: Identity verification for online gaming

    Winners, losers and fraudsters – Identity...
  • Digital acceleration in a post-Covid world

    ...
  • crypto mining sustainability

    Can we clean up crypto?

    Both the hardest critics and proponents of cryp...


  • Home
  • Events
    • FTT DeFi 2022
    • Fintech Talents Festival London 2022
    • Future Identity Festival 2022
    • FTT Building Societies 2022
    • FTT Embedded Finance North America
    • FTT Lending 3.0 2023
    • FTT Embedded Finance UK & Europe 2023
    • Future Identity Finance 2023
  • On-demand Content
    • Interviews
    • Opinion
    • Videos
    • Digital reports
  • VC INNOVATIONS – Accelerated Marketing
  • facebook
  • linkedin
  • youtube
  • twitter

GET IN TOUCH

T 0208 0045 517
Email: info@vcinnovations.co.uk

VC INNOVATIONS
1 Quality Court, London WC2A 1HR

Open in Google Maps

QUICK LINKS

  • Home
  • About VC INNOVATIONS

Connect with us

  • facebook
  • linkedin
  • youtube
  • twitter

RECENT POSTS

  • In conversation with Tribe Payments at FTT Embedded Finance & Super Apps

    ...
  • digital identity digital economy

    Digital identity for a digital economy

    At Future Identity North America on May 12th, w...
  • online gaming identity

    Winners, losers & fraudsters: Identity verification for online gaming

    Winners, losers and fraudsters – Identity...
  • Privacy Policy
Fintech Talents

© FintechTalents 2022. All Rights Reserved.



TOP
Register your interest



Rockstar Paid 2022


Complimentary Pass


Apply now



Register your interest



Complimentary pass



Rockstar pass

Register your interest



Re-subscribe



Standard Pass(es)

Premium Pass(es)

Premium Pass(es)

Standard Pass(es)

Premium Pass



Building Societies & Credit Unions Free Pass



Standard Pass



Download the Report



This website uses cookies to give you the best experience. Agree by clicking the 'Accept' button. Read our Privacy Policy.