Case Study: Standard Chartered Bank Uses An MSSP To Optimize Its Security Monitoring

In 2003, Standard Chartered Bank (SCB) took a long, hard look at its security needs. The bank primarily wanted to focus on the value-adding parts of the security cycle, so it decided to outsource the repetitive elements of security monitoring to a managed security services provider (MSSP). SCB leveraged the technical expertise of the MSSP and overall economies of scale. SCB retained functions related to the interpretation data generated by its intrusion detection system (IDS) and the analysis of the potential impact on both infrastructure and business. The MSSP engagement improved SCB's security posture and freed up substantial amounts of time, money, and resources in the security department. This ultimately allowed the team to focus on more strategic aspects of its security and risk practice.