Download PDF
FIA Tech Enhances Security with Expel’s Managed Detection and Response
Technology Category
- Cybersecurity & Privacy - Cloud Security
- Processors & Edge Intelligence - System on a Chip
Applicable Industries
- Cement
- National Security & Defense
Applicable Functions
- Sales & Marketing
Use Cases
- Tamper Detection
- Time Sensitive Networking
Services
- Cloud Planning, Design & Implementation Services
- System Integration
The Challenge
FIA Tech, a leading technology provider to the exchange traded derivative industry, faced a significant challenge in 2021. After announcing a $44 million investment by ten leading banks to fund its strategic growth, the company had to deal with increased security requirements. Pat Lefler, the senior vice president of risk and information security, and his team developed a three-pronged approach to increase visibility into its endpoints, network, and cloud services. They set up new endpoint protection with Carbon Black, SIEM and log file aggregation with Sumo Logic, and integrated Palo Alto’s Prisma through Panorama, as well as their cloud security signals from Microsoft and Amazon Web Services (AWS). However, they lacked the resources to monitor the myriad alerts they were receiving. They needed a Security Operations Center (SOC) that would integrate well with FIA Tech’s existing tech and could start monitoring quickly, given the rapid growth of the organization.
About The Customer
FIA Tech is a leading technology provider to the exchange traded derivative industry. It supports 8,000 organizations around the world that are involved in trading futures and other derivatives. Its customers include clearing firms, banks, exchanges, and buy-side institutions. Since its launch in 2007, FIA Tech has worked with the industry to develop and provide key services and technologies which help market participants reduce risk, mitigate operational costs, and meet market and regulatory challenges. In 2021, FIA Tech announced a $44 million investment by ten leading banks to fund its strategic growth, which led to increased security requirements.
The Solution
FIA Tech decided to look externally for a managed detection and response (MDR) partner. They evaluated several providers, but many didn't integrate well with their existing solutions. Eventually, they were recommended to Expel. Expel stood out due to its ability to support FIA Tech’s existing security tools, its ease of integration, and the positive working relationship developed during the sales process. Expel integrates with Carbon Black, Sumo Logic, Microsoft Azure, O365, and AWS, which were the pillars of FIA Tech’s security program. Moreover, Expel could integrate with FIA Tech’s existing tech investments through APIs instead of agents, which was a significant advantage. The partnership with Expel provided FIA Tech with a fully ramped, expert SOC with deep experience and expertise for less than the cost of hiring an additional junior technical team member.
Operational Impact
Quantitative Benefit
Related Case Studies.
Case Study
System 800xA at Indian Cement Plants
Chettinad Cement recognized that further efficiencies could be achieved in its cement manufacturing process. It looked to investing in comprehensive operational and control technologies to manage and derive productivity and energy efficiency gains from the assets on Line 2, their second plant in India.
Case Study
Data Capture for Afghanistan Forces
Electronic equipments on the field of Afghanistan provided information on the status of the vehicle and to identify potential threats surrounding it to the British Force. The monitoring and interpretation of this data requires robust and sophisticated digitization for data capture and communication.
Case Study
Digital Transformation of Atlanta Grout & Tile: An IoT Case Study
Atlanta Grout & Tile, a Tile, Stone & Grout restoration company based in Woodstock, Georgia, was facing challenges with its traditional business model. Despite steady growth over the years, the company was falling behind the web revolution and missing out on the opportunity to tap into a new consumer base. They were using independent software from different vendors for each of their department information and workforce management. This resulted in a lot of manual work on excel and the need to export/import data between different systems. This not only increased overhead costs but also slowed down their response to clients. The company also had to prepare numerous reports manually and lacked access to customer trends for effective business decision-making.
Case Study
Major Aerospace Company Automates Asset Management
The O&M division of an aerospace and global security company was using spreadsheets to manually track more than 3,000 assets assigned to students and staff. Maintaining audit trails for this high volume of equipment became increasingly time-consuming and challenging. The chore involved knowing precisely what equipment was on hand, what had been issued, its location and the name of the custodial owner of each item. Every aspect of this task was carried owner of each item. Every aspect of this task was carried out by individuals with spreadsheets. Manually documenting the full lifecycle of each asset added to the burden. This included tracking maintenance requirements and records, incidents and damages, repairs, calibrations, depreciation, and end-of-life data.
Case Study
Revolutionizing Construction Equipment Rental: A Case Study on ProsRent and ENO8
ProsRent, a startup that won the 'Best Financial Opportunity' and 'Best Pitch' at CodeLaunch 2016, aimed to revolutionize the way construction professionals source and rent heavy equipment. In the construction industry, project managers and contractors typically rent heavy equipment from supply companies. However, predicting inventory can be challenging, and finding the required equipment at the right time and place can be a hassle. If the preferred vendor doesn't have the required equipment, it results in wasted time and money in searching for it, often leading to higher costs due to non-preferred rates and increased delivery costs if the vendor is located far from the job site. Suppliers, on the other hand, desired access to a wider base of trusted renters that they didn't have to vet themselves and wanted to offer dynamic rental pricing based on demand and availability in their market. ProsRent's challenge was to produce a minimum viable product that was fast and first to market but also strong enough to engender loyalty and repeat business from the target market.