NAIROBI, Kenya, Nov 2 – Liquid Telecom has partnered with cyber security consultancy Serianu to build a new service targeting local savings and credit cooperative societies (SACCOs) help them mitigate possible losses from internal and external fraudsters.
The product, Security Information and Event Management As A Service, or SIEMaaS, provides a technical solution to identify and qualify cybersecurity risks faced by the sacco.
According to Liquid Telecom Group Chief Technology Officer Ben Roberts, speed and accuracy have become key tenets in the new war against cyber criminals, necessitating a radical shift from the traditional approach to cyber security management for saccos.
“With Kenya’s sacco members estimated at 10 million with a collective deposit base of Sh150 billion, the need for a structured cyber security management program for these financial services organizations has become even more urgent as fraudsters change tact and adopt more sophisticated, slow and silent data breaches,” said Roberts.
SIEMaaS is a first-of-its-kind, integrated service that combines enterprise log monitoring, cyber-threat intelligence and cloud-based threat management and reporting. It is purpose built for the African market and gains unparalleled visibility into insider threats with an intelligent correlation and detailed detection framework.
Serianu Chief Operations Officer Joseph Mathenge said that the firm was working with Liquid Telecom to provide saccos with an important real time failsafe that also targets to turnaround detection to arresting culprits within a matter of hours.
SIEMaaS, he noted, presents a low cost solution to the saccos, that can now easily access cyber security as a service and have all their data managed from a remotely from a secure cloud storage.