Operations | Monitoring | ITSM | DevOps | Cloud

Financial services institutions have been facing pressure to modernize their operations for years. But legacy architecture and processes—along with compliance regulations—have made rapid innovation difficult to achieve. Adding to this pressure are new, digital-first competitors who accelerate the need for financial services to deliver better digital customer experiences both more consistently and at scale.

Teams are always looking for a speed advantage, and that comes from planning, crisp execution, and teamwork. To this end, we’re excited to release new enhancements to Incident Collaboration to help make life easier for DevOps teams during incident response. The Mattermost platform includes built-in Incident Playbooks with predefined response plans and task lists. Playbooks can be customized to your environment and specific use cases.

Marie Kondo, a Japanese organizational consultant, helps people declutter their homes in order to live happier, better lives. She once said: Similarly, in security, operational teams are constantly bogged down by a “visible mess” that inhibits their ability to effectively secure their organization.

To understand the impact that stovepipes have on incident response, one need look no further than the 9/11 terrorist attacks that occurred in the United States. The CIA, DoD, and FBI all knew about the Al Qaeda terror threats before the planes hit the World Trade Center, but the 9/11 Commission found that a lack of data and intelligence sharing among the agencies limited each agency’s understanding of the looming terrorist threat; thereby, limiting their incident response.

Today’s organizations face ransomware, malware, and other cyber attacks, and managed service providers (MSPs) need an incident response plan (or “IRP”) to mitigate against these threats. In a recent survey of 200 MSPs, 74% of respondents said they have suffered a cyber attack, and 83% noted their small and medium-sized business (SMB) customers experienced one as well. Yet, with an incident response plan (IRP), MSPs can protect themselves and their customers against cyber attacks.

Every second counts when it comes to Managed Service Provider (MSP) security — the longer it takes an MSP to complete security incident response, the greater the ramifications of the incident on the service provider and its stakeholders. When faced with a cyber attack, it’s crucial to understand the potential consequences of the security incident. It also is paramount for an MSP to establish a plan, so it can quickly and effectively respond to cyber attacks and other security incidents.

Extended Detection and Response (XDR) is a new security technology that promises to change the way security organizations operate, and introduce important efficiencies to day-to-day processes. In particular, XDR is expected to have a huge impact on incident response teams. In this article, we’ll explain the basics of XDR, show how it addresses incident response challenges, and how it can transform traditional processes in the SOC.