Overview

University Credit Union selected Cygilant as its Security Monitoring partner to help scale its small cybersecurity team to be more efficient at reviewing logs and alarms so they can be more effective at identifying and remediating cyberthreats. The result is cost-effective, cybersecurity expertise.

About University Credit Union

University Credit Union was established in 1947 as the University of Miami Credit Union to serve the University of Miami faculty, staff and alumni.  The credit union built a reputation for meeting the financial needs of the University Community with critical, basic financial services.

Challenge

Like many financial institutions, University Credit Union’s small cybersecurity team is challenged with protecting a full set of digital banking tools, lending platform, and core systems – including email, and everything else, all while making sure these tools are safe and secure.

The team used a multitude of security software that, while effective, required a member of the security team to review and identify issues. Senior Vice President and Chief Information Officer at University Credit Union Eric J. Hoskins said, “We either didn’t have the time or the expertise to properly run our cybersecurity program.”

“One of our biggest challenges was the lack of eyeballs on our systems. We just don’t have enough people or time to properly review logs and alarms to identify or investigate an intrusion. We knew we needed to select an external SOC partner that had the bandwidth to not only review these alerts but also understand our business, compliance mandates, and evolving cyber threats landscape.”

Solution

Hoskin selected Cygilant, a provider of cybersecurity-as-a-service, to cost-effectively help his team scale to meet the ever-increasing requirements to remain secure.

Hoskins said, “Bringing in a partner with the skillsets necessary to combat cyber threats is a must and unless you have $150,000 or more per year to throw at the problem, going with a partner just makes sense as it’s a far better return on your investment.”

With more than 20 years’ experience securing financial institutions, Cygilant cybersecurity-as-a-service gives University Credit Union access to some of the best cybersecurity experts in the market with ability to implement the technology and processes that can proactively tackle security threats.

The credit union currently uses Cygilant Security Monitoring to collect and analyze security events across IT infrastructure, networks, and applications and manage the complexity of its SIEM and Log Management products. The Cygilant SOC triages and investigates potential security incidents to give University Credit Union’s team rapid actionable recommendations so they can remediate threats quickly.

Benefits

“Selecting Cygilant Security Monitoring and SOC was the best option for us. We instantly gained the ability to be more efficient and effective with our time when researching potential attacks,” said Hoskins.

“We now have a partner in our fight against cybercrime. Cygilant has provided those additional eyeballs and expertise that we lacked at a third of the cost to bring it all in-house.”

Among the benefits University Credit Union receives from Cygilant are expertise, scale, and value. “With Cygilant, we’ve realized ROI that is better than expected.”

Cygilant is also able to help University Credit Union address compliance demands. “Regulators are continuously adding items to our list of compliance requirements. Without the help of a third party, it would be nearly impossible to keep up.”

Asked what is most impressive about working with Cygilant, Hoskin replied, “Communication. I can’t tell you how many other vendors I have worked with in this space that don’t communicate well at all, if ever.  I need to know who is watching our back and that they understand our needs and challenges. Cygilant has been able to do that better than anyone I have dealt with over the past 15 years.”