Phalanx – Marshalling Our Forces to Keep Your Data Secure

Phalanx – Marshalling Our Forces to Keep Your Data Secure

Data is the basis for making decisions in any business. From customer data, to market and sales figures, to information about in-house products, every business needs data to be as detailed and accurate as possible. Nowadays that data can be seriously compromised by third parties, as in the case of data leaks and ransomware. Data security is king.

Many centuries ago, the Ancient Greeks worked out that a tight military formation was far more effective than hand-to-hand combat. The Greeks developed the phalanx: a battle formation that marked the transition from single combat to military engagement. The basic idea was to confront the opponent with closed ranks of soldiers. The formation allowed the Greeks to prevail even when their opponents had superior numbers.

The notion of presenting a united front to combat a common enemy is not yet fully established in data security. Many companies wage a solitary war against daily threats like script kiddies, hackers and organized criminals.

SIX has gone one step further by setting up a dedicated Security Operations Center (SOC) and now offers all companies access to our Managed Security Services (MSS). Essentially, SIX has created a modern-day phalanx, which can provide security support that is ideal for small and medium-sized enterprises.

  • Stronger together despite cost pressures
    SIX has created a network that links companies in the Swiss financial sector. SIX set up the SOC in order to provide the best possible protection for the network. The SOC collates and scans more than two billion events every day – more than 30,000 per second at peak times – looking for security incidents. A larger network means increased and shared security: if one member is attacked, the security measures can be beefed up for all members simultaneously. To misquote a well-known phrase, it's a case of one for all and all for one.
  • Cyber security is the new normal
    Cyber security incidents are no longer rare: they are part of reality every day. Attackers see financial sector companies as a very attractive target. MELANI – the Swiss Reporting and Analysis Centre for Information Assurance – recorded almost 100 reported threats in 2017 alone. Bear in mind that reported incidents represent the tip of the iceberg.
  • Focus on core business
    For most companies, cyber security is not their core business, but it is a commercial necessity. At the same time, cyber security represents a substantial cost that does not generate any significant turnover or profit.
  • Join forces with an experienced partner
    Our SOC experts identify suspicious attack patterns, which are then investigated with the assistance of security analysts and cutting-edge technology. SIX is able to assess attacks rapidly and accurately. As an MSS customer, you benefit directly from our expertise and rapid response to threats.
  • Specialists are in short supply
    Creating a standalone cyber security system is expensive, especially if the services need to be available round the clock. One challenge is recruiting and providing ongoing training for qualified staff: it is a fairly young profession. Our response has been to make the benefits of our in-house expertise available to other companies through MSS.

The Benefits of Managed Security Services

A cyber security partnership offers multiple advantages. SIX is a partner with a proven track record in the complex regulatory world of the Swiss finance industry. You retain all your data, but analytical data from security incidents is forwarded to us. You also reap the benefits as we constantly adapt to new threats.