With offices across Panama’s nine provinces, Canal Bank has served commercial clients and small organizations, providing a variety of services to its customers at branch offices and online.
Securing Sensitive Financial Data
The 350 employees at Canal Bank rely on its network to support the firm’s most critical financial services operations and deliver a superior customer experience. Consumer demands in the banking industry are changing, and Canal Bank is constantly improving its services to keep pace with new expectations. “Currently we are in the process of acquiring and implementing a new core banking system that can support many channels and mobile applications,” said Erick Garay, CIO at Canal Bank. “We need to secure those new services that we will be offering.”
Cloud technology plays an important role in Canal Bank’s strategy, so its security solution would have to be cloud-ready. “We have a roadmap to move all our operations to the cloud in approximately two years,” said Garay. “We have started by moving our email platform to the cloud and wanted an application that could be hosted externally so that we could secure it. You need to have a layered security approach with email, and we wanted to protect our Microsoft Office 365 service from phishing attacks and other threats.”
Canal Bank’s executives understand the importance of security, so the security initiative had a high level of visibility. “It was important for our executives to be confident that the emails we send and receive will not pose a threat to the organization,” said Garay.
Protection Designed for SaaS Threats
After considering its options and working closely with its strategic partner, Soluciones Seguras, Canal Bank chose CloudGuard SaaS, a cloud service that is built specifically to fight cloud email and productivity suite threats. CloudGuard SaaS blocks attacks designed to steal data on Office 365 and G Suite. The solution protects against advanced phishing attacks, malware, and zero-days. The solution was simple to deploy, and quickly delivered the threat prevention that Canal Bank required.
“One of the things that we valued was that the configuration process was really fast, making it easy to implement,” said Garay.
Stopping Attacks and Building Security Insights
“We have been using CloudGuard Saas for the last year, and during that time we have stopped approximately 1400 phishing attacks,” said Garay. “The solution also defended us from about 800 malware attacks, as well as other threats embedded in attachments. “Check Point also provides reports that give me thorough visibility into threats targeting our email platform.”
“CloudGuard SaaS cleans out threatening email attachments and delivers a clean file to the recipient,” said Garay. “It also alerts us about shadow IP applications that are running from within our infrastructure. We can use that information to block applications that are not supposed to be running in our environment.”