How SOAR Helps BFSI Institutions Respond Faster to Cyber Threats
Today, in the world of banking, insurance, and the financial service, cybersecurity is not just a technical requirement, it’s a business-critical function. Every second counts when a threat gets arises, and delays in response can result in data breaches, reputational damage, financial loss, or regulatory penalties.
That’s why SOAR (security, orchestration, automation, and response) has become a important tool for BFSI organizations. SOAR doesn’t just monitor threats only, it also helps your security operations center (SOC) respond to threat in faster, smarter and more efficiently.
In this blog, we explore how SOAR helps BFSI organizations improve threat detection, streamline incident response and reduce the impact of cyber-attack.
What is SOAR in the Context of BFSI?
Let’s first understand the basics. SOAR is a combination of tools and processes that integrate threat intelligence, automate responses, and orchestrate actions across different security systems. For BFSI organizations that handle sensitive financial data. Also, capabilities SOAR is prioritization of potential threats, assessing potential impact, and also responding to the threats accordingly.
Those capabilities include a number of things:
- Using security automation and orchestration, a solid security foundation founded on best practices is established.
- A platform for security incident response that may be used to create scalable and repeatable procedures and orchestrate security responses.
- Threat intelligence is used to anticipate risks, expedite prioritizing, and verify that a security issue has been resolved after it has occurred.
According to the Reserve Bank of India’s (RBI) 2023–24 Currency and Finance report, the average cost of data breaches in India was $2.18 million in 2023, a 28% rise since 2020.
According to the survey, the average cost of a data breach in India was still lower than the global average. Phishing assaults accounted for 22% of all attacks in India, while stolen or compromised credentials accounted for 16%.
How SOAR is different from SIEM
Security-related data, such as firewall and network device information or trends that can point to a cyberattack, are gathered, examined, and stored by a security information and event management (SIEM) system. To ascertain the accuracy of the data gathered and to prioritize the more crucial data, SIEM technologies usually require some calibration and supervision, which can be time-consuming.
In order to identify if security events are false positives or real incidents that need to be investigated, SOAR programs are frequently automated and usually don’t require a high level of skilled human control. Investigating and mitigating time can be put to far better and more beneficial use.
10 Key Ways SOAR Helps BFSI Institutions Respond to Cyber Threats Faster
- Real-Time Threat Detection –
SOAR platforms enable real-time correlation & analysis of security alerts from various tools like SIEM, firewalls, endpoint solutions, and many more. By collecting data from multiple sources, SOAR helps in better identification of indicators of compromise. - Automated Incident Triage & Protection
Security analysts in banks often deal with thousands of alerts daily. SOAR automates the process identifying alerts based on severity, threat score, and asset value. - Rapid Incident Response Workflow
One a threat is identified, SOAR, can execute predefined playbooks to respond immediately, isolating endpoints, resetting credentials, or blocking IP address without human intervention. - Unified Security Operations Across Teams
In BFSI, cybersecurity, risk, compliance, and IT Teams often work in silos. SOAR centralizes these functions by offering a common platform to collaborate, track incidents, and manage responses. - Compliance-Ready Documentation & Reporting
Banks and financial institutions must comply with stringent regulations like RBI guidelines, PCI DSS, and ISO. SOAR keeps a detailed audit trail of every action taken during an incident. - Integration with Existing Security Tools
SOAR integrates seamlessly with existing tools such as SIEMs, endpoint protection platforms, identify access management (IAM), and more. - Reduced Mean Time to Detect (MTTD) and Respond (MTTR)
Time is everything in cybersecurity. SOAR helps BFSI institutions cut down MTTD and MTTR. Minimizing the window of vulnerability. - Enhanced Threat Intelligence Usage
SOAR platforms can consume threat intelligence feeds and automatically correlate new data with existing alerts. This allows BFSI institutions to take proactive action based on the latest threat. - Stop Chasing Ghost Alerts
Sometimes, false positives are a major bottleneck in BFSI SOCs. SOAR continuously learns from past alerts and analyst to its filtering and scoring. - Cost Optimization & Resource Efficiency
In the BFSI Sector, a single data breach can erode years of customer trust. By ensuring faster response to incidents, SOAR not only protects customer data but also reinforces confidence in your security measures.
Why Choose ESDS for SOAR Services in BFSI?
At ESDS, we provide services using the advanced SOAR solutions tailored for the BFSI sector. Our Services helps your business with: –
- We provide centralized visibility into security events, allowing rapid investigation and remediation of threats.
- Providing our customers with a Tier 3 cloud infrastructure.
- “Eagle Eye Services”, which is a subscription-based cyber security monitoring service.
- VPN solutions for remote access of data.
- securing of digital identity of businesses with enhanced web security.
With ESDS, you gain not just a solution – you get services like SIEM integration, Advanced threat detection, managed security & incident response management, security operations automation and the last managed security orchestration.
Explore how ESDS SOAR Services are helping BFSI institutions reduce incident response times, improve regulatory compliance, and stream security operations without overhauling their existing infrastructure.
Final Thoughts: The Future of Threat Response in BFSI Is Automated
The Cyber threat landscape is evolving, and so must your response strategies. Traditional SOC models, no matter how well-staffed, are not enough to keep up with speed and scale of modern attacks. SOAR is the bridge between detection and action, enabling BFSI organizations to move from reactive to proactive cybersecurity.
For financial institutions that demand agility, compliance, and customer trust, SOAR is no longer optional, it’s essential
FAQ Section
How does ESDS SOAR help reduce response time to cyber threats?
ESDS SOAR automates the detection, analysis, and response process using pre-built playbooks and real-time orchestration.
Can ESDS SOAR integrate with our existing security tools and infrastructure?
Yes. ESDS SOAR is designed for seamless integration with existing SIEMs, firewalls, endpoint protection platforms, and other security tools.
What makes ESDS SOAR Suitable for BFSI Institutions?
ESDS SOAR offers BFSI-specific capabilities like automated compliance reporting, real-time threat correlation, and tailored incident playbooks.
