A Financial Services Use Case
Since its conception Signal is proud to have developed a strong use case across the financial sector. Proving to be an invaluable tool for a number of financial services organisations including several multinational and Fortune 1000 companies.
Signal open source threat intelligence platform now forms an integral part of their security teams’ toolbox, assisting across concerns, from detecting and managing physical threats to assets, reputation or VIPs, to aiding cybersecurity teams with efficient methods for open and dark web monitoring.
Physical Security
Using Signal, insurance providers, financial companies, and banking organisations can not only gain an overview of emerging threats in real-time but also target key areas and assets that they want to closely monitor creating a hyper-relevant stream of actionable real-time data.
For example, banking organisations use Signal to monitor geo-located information online, focusing their web monitoring on key locations of particular interest such as ATMs, head offices, or VIP locations. They can additionally run the focused data that surfaces through our sentiment analysis software. This allows them to help cut through the noise and quickly identify online chatter expressing negative sentiment so that they can more efficiently distinguish threats.
A secondary use of Signal for the financial services sector is monitoring their competitors’ security threats which may also be affecting them - even if they don’t know it yet. This allows their security teams to predict potential threats even before they emerge.
How Signal has been used in the Banking Sector to Detect and Deter Threats
In 2019, one of Signals clients was able to prevent a particularly worrying case of attempted fraud. An employee at that bank was being harassed online in an attempt to instigate said employee to provide confidential information of customers to hackers for use in fraudulent activity.
Thankfully, Signal was able to spot this before matters progressed, preventing potentially hundreds of thousands of dollars worth of damages.
Signal has also been used to pinpoint worrying sentiment against some of our customer’s executive teams.
Cyber Security Threats
Signal is also used by customers for cybersecurity intelligence to determine risks such as:
Fraudulent statement packs;
Fake bank statements;
Phishing websites (using our in-built image recognition);
Credit card and account credentials for sale on the dark web.
Security teams use Signal to monitor both open and dark web conversations. This enables them to keep abreast of new and developing global trends and methods used in cyber fraud which is effecting their industry as a whole. Using this data they can actively develop strategies to prevent and tackle new and rising methods of cybercrime.
Signal also allows these teams to monitor for data breaches by alerting security teams as soon as chat is identified around potential data breaches which could affect the organisation itself, or their customers.
Ways Signal Helps Financial Services
Identify negative sentiment and potential threats to customer assets.
Detect and intercept stolen credit card and account credentials for sale on the dark web.
Monitor targeted locations to create a focused stream of actionable real time data.
Signal allows our customers to analyse emerging global trends, detect threats in real-time and then form appropriate security strategies to counter these potential threats as or even before they fully reveal themselves.
For the financial services having this targeted and focused stream of accurate and relevant data is vital to ensuring the safety and security of their customers, assets, and employees.