Faster Incident Response in Financial Service

Incident Response Software: Mitigating Security Risks and Faster Incident Response in Financial Service

Digital transformation is a necessity for every organization as it meets up demands of the customers, and it isn’t unique to the technology industry as E-commerce, finance, and the health care sector are moving in the same direction. As customer expectations are increasing across different sectors, the financial services faced heightened pressure to reduce the downtime and minimize the security risks, and services happen securely without any kinds of interruptions. The financial sector affects millions of people and billions of dollars in revenue when the whole system is down, as in a competitive market, financial startups look to disrupt the industry, as it runs on a high standard of uptime and reliability, incidents does erode trusts very quickly as customers look for alternative solutions.

ngDesk incident response software is powered by AWS and can help financial organizations to improve their digital operations approach through a better alerting system, automated incident response, secure DevOps processes, and a streamlined communication system. Let us take a look how this works:

1. Get the Appropriate Alerts with ngDesk Incident Response Software and DevOps Guru:

At times online banking companies often experience a situation where direct deposits are not showing up in their application user’s account history, it impacts a large group of customers, creating a lot of anxiety among them, as they want to fix it instantly. These issues need an urgent fix, ensuring that this won’t happen again, especially it is critical for customer retention and their trusts.

The incident response process happens when individuals detect new alerts on Amazon’s DevOps Guru, and the notifications go to ngDesk incident response software. At times, alerts are related to other similar open issues based on the configuration, it means multiple alerts about the same problem are all grouped into the same incident, reducing the number of notifications that the on-call support agents had to acknowledge, and nothing is more annoying than having your phone buzzing with alerts about a problem that a support team already working on.

The ngDesk free incident response software comes with unique service-based architecture, as it automatically alerts the agents about on-call for this kind of service and types of issues. For critical issues, the incident response software does send push notifications to the agent’s ngDesk mobile application, ensuring that when the alarms get off, the right person of the right team is engaged to solve the incident response process instantly. It is the step in reducing the times it takes to fix issues, decreases the time it takes to start working on them, also, it is crucial to leverage automation to ensure that the mitigation process proceeds smoothly.

2. Automate Incident Response with ngDesk and EventBridge:

Sometimes service delay occurs on an AWS EC2 instance, during the response process, the person on-call begins to investigate by running diagnostics to understand where the fault lies, and to operate this, they need to login to the AWS console provided they are at the right authorization level, and the credential didn’t expire. The advantage of ngDesk’s automation capabilities enables the responder to easily trigger those diagnostics to run in AWS through ngDesk’s Amazon EventBridge integration while the team receives the notification, as ngDesk answers some of the questions a responder would ask, and that include those of:

  • What else is alerting now, and for how long?
  • Has this issue occurred before? If so, when?
  • What did you do about it before?

Historical information is critical to decide what steps to take, and giving the responder those answers faster saves both time and money. When the responder views the incident, they soon get updated with the diagnostic results and also about crucial historical information, thus, it saves time and provides the responder with the information they need to emphasize urgently without needing direct access to the system itself. One need to have login access and provide authorized access to many systems to run individual diagnostics, saves configuration costs, and allows safe delegation of the tasks to the responders via a self-service system. Generally, the delay in processing happens due to an interaction with the database, as the responder cannot fix it without calling in other experts. They will immediately find the person on-call for a particular service as no need to look up who’s on which team or for the latest vacation schedule.

ngDesk free incident response software can call out the selected team and on-call responders at will, and ask for the on-call person of the database to join the incident, as the responders get back to troubleshoot the issues. Additional responder of one of their backup teams accepts the requests, as they can quickly join a conference bridge or chat to coordinate with the rest of the responders. What happens in the events if the service got adversely impacted because of its dependence on another device, for instance, like an SQS Queue? Applications and their underlying services are more completely interrelated than ever. How can one know which other service the application mainly relies on? ngDesk incident response software is used by different teams, as each own and manage their monitoring tools and workflows. ngDesk’s way of distributing the management workload to each pager team, yet providing a unified view of the business impact. The responder thinks the problem can be resolved with the aid of a quick-service restart on the affected instance, and ngDesk free incident response software comes with a menu item that the responder can quickly select and it will fire a script of command via EventBridge and ngDesk Run Deck automation platform to complete the action. If this response is the default for repeat incidents, ngDesk can run this script without human intervention before any responders get notified!

If an individual organization chooses to wait before receiving any notification, it may be the incident that will auto-resolve without disturbing anyone, which goes a long way to give the responder a better quality of life. This kind of incident flow makes sense for different kinds of infrastructures and application errors that are resolved by numerous members of the DevOps team, but did you know that ngDesk incident response software can also help for other use cases with AWS? Let’s look at a security breach for an example.

3. Stay secure and Build Trust with ngDesk and Guard Duty:

The risk for a security breach is high for financial institutions. Thus, setting up Amazon’s Guard Duty to allow teams to monitor network activity, account access, and flow of data for anomalous or threatening behavior is a must. Imagine a situation where GuardDuty just detected a data pattern dealing with unauthorized access on the network, just as it did with the system degradation earlier. The free incident response software will find the right time and on-call person to notify about the incident because at the second count when a security breach is underway.

In this scenario, one would set up automation to perhaps resonate traffic, lock down the appropriate network segments and isolate the affected component as soon as the alert is triggered and the incident gets created, alongside this on-call security engineer will want to check the diagnostic snapshot. Free incident response software of ngDesk will initiate this and link the results to the incident by the time the engineers view the incidents, all the relevant pieces of information presented, there was no loss in time scrambling to prevent further damage. The crucial part of it is, no matter what the access level of the engineer maybe, the on-call persons have immediate access needed for diagnosis resources. Automation ensures that if minimum privileges are present with an engineer, then the underlying resources remain secure.

4. Keep Stakeholder Informed and Incidents Blameless:

Anytime there can be a high severity incident disrupting the customer experience or possible security exposure, business service owners and other stakeholders want to be kept informed. The system backed up for how long? How many customers are impacted? Has our data been exposed? These are all the crucial questions, and those stakeholders need to pay attention, unfortunately gathering the relevant data, finding the right groups of stakeholders, and crafting the correct responses do slow down the responder from actually fixing the problem.

ngDesk provides a channel to keep the relevant stakeholder up to date with messages just for them, as custom response play can assign conference bridges and automate the appropriate notifications to the right stakeholders, thus reducing the number of responders spend managing the incident and allowing them to get back to focus on fixing the problem.

Once the problem gets resolved, creating a blameless postmortem within the ngDesk platform enriches the response process with learning and generates good practices for that type of issue. Here, teams capture what they did right and what would have been better, providing an opportunity to bring continuous improvement.

5. Empowering Financial Services Organizations to Shift Securely to the Cloud:

Digital transformation can be challenging for financial organizations without the presence of appropriate cloud ecosystem and digital operations management setup, as they cannot navigate those additional compliance and security regulations while delivering seamless services to their customers. At this juncture, ngDesk and AWS enable the financial sector to shift to the cloud safely and securely while minimizing customer impact and speeding up innovations to keep up with the increasing customer demands.

Avail ngDesk Free incident response software for your business today!