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Revolutionizing Application Security in Financial Services with IoT
Technology Category
- Cybersecurity & Privacy - Application Security
- Cybersecurity & Privacy - Network Security
Applicable Industries
- Equipment & Machinery
- National Security & Defense
Applicable Functions
- Logistics & Transportation
- Product Research & Development
Use Cases
- Supply Chain Visibility
- Tamper Detection
Services
- Cybersecurity Services
- Training
The Challenge
The financial services firm in question was facing significant challenges in achieving comprehensive application security test coverage for its entire software portfolio. The existing application security tools were proving to be inaccurate and ineffective, leading to developer disengagement, product delays, and negative business impacts. The IT Security team was primarily focused on network security, relying on perimeter security solutions to protect their applications and data. The application development team had minimal involvement in application security, and the training they received did not keep pace with advances in application development and hacking. The security team lacked the visibility needed to work efficiently and effectively, with their scanner tool reporting many false positives and lacking the necessary information for developers to find and fix errors. The existing tools and processes were preventing a complete security analysis of their applications, delaying the delivery of new business-critical software functionality.
About The Customer
The customer is a global financial services firm that advises clients on a variety of matters, including regulatory issues, compliance, risk management, liquidity, restructuring, acquisitions, and more. The firm places a high priority on software application security, understanding that a data breach could expose customer data, result in potential financial losses for the company and its clients, and cause significant damage to the company’s reputation. The firm's development team had been using Contrast for over two years and had nearly eliminated vulnerabilities introduced in later stages of the software development lifecycle (SDLC).
The Solution
The firm discovered Contrast Assess, a product that offered a unique approach to finding and presenting vulnerability data in a way that was understandable by both developers and the security team. Contrast Assess works from within the application, without requiring any configuration changes. Its quick and easy installation, detailed dashboard, and real-time, continuous approach solved many of the application security challenges the firm was facing. The firm decided to onboard the SaaS version of Contrast Assess to accelerate deployment and simplify ongoing operations. Using Contrast’s continuous security testing, the application development team improved the security of their applications and could provide predictable delivery without adding headcount or expertise to the team. Real-time results allowed developers to fix problems as they came up throughout the development process. The insight Contrast Assess provided into custom and third-party code helped the development team identify which libraries had vulnerabilities, and whether their firm’s applications were using vulnerable code within those libraries.
Operational Impact
Quantitative Benefit
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