At a Glance
- Industry: Fintech
- Engagement type: SIEM + SOAR Deployment with Managed SOC
- Tech stack: Microsoft Sentinel SIEM, Logic Apps SOAR, integrated with core banking, payment gateways, API services, fraud systems, Conditional Access policies
- Outcome: All critical and high-severity findings remediated and re-tested with no critical issues remaining at close.
- Delivered by: ISO/IEC 27001:2022 certified consultants with OSCP, OSEP, CISA, CISM credentials.
Compliance Frameworks Satisfied
Client Overview
Industry: Fintech
Product: Mid-size Indian fintech serving 2M+ retail customers
Tech stack: Microsoft Sentinel SIEM, Logic Apps SOAR, integrated with core banking, payment gateways, API services, fraud systems, Conditional Access policies
The client is a mid-size Indian fintech serving 2M+ retail customers with payment processing, lending and savings products. They were preparing for RBI annual examination and PCI DSS Level 1 audit simultaneously.
Challenge
Three factors drove the urgency of this engagement:
- RBI Cyber Security Framework compliance. Annual examination required 24x7 SOC monitoring evidence with documented incident response
- PCI DSS Level 1 audit. Card-handling certification required comprehensive logging and monitoring of the cardholder data environment
- Rapidly increasing fraud volume. Account takeover attempts had grown 4x year-over-year, with the existing team unable to scale
Our Approach
Codesecure delivered a structured engagement combining automated coverage with deep manual testing focused on the specific risk areas for this client.
Scope of Testing
The engagement covered the following primary areas:
- Deployed Microsoft Sentinel SIEM with fintech-specific detection use cases
- Integrated 40+ log sources including core banking, payment gateways, API services, fraud systems
- Built 18 SOAR playbooks covering fraud signals, account takeover, BEC and ransomware indicators
- Implemented adaptive MFA enforcement via Conditional Access policies
- Integrated transaction-level fraud analytics for real-time scoring
- Established RBI-aligned Cyber Crisis Management Plan with tested tabletop exercises
- Deployed managed SOC with named India-based analysts covering 24x7
// Tooling Used
Reporting & Walkthrough
Executive summary delivered alongside a technical report containing reproducible PoC steps, CVSS v3.1 severity scoring and developer-actionable remediation guidance. Live walkthrough with the client team covered every critical finding with reproduction and recommended fix path.
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Critical Findings
- Identified ongoing credential-stuffing campaign affecting 47K customer accounts that had been undetected for 6 weeks
- Discovered an active BEC attempt targeting the corporate treasury account flagged within 4 minutes via SOAR playbook
- Detected and contained a ransomware indicator (Cobalt Strike beacon) on an internal workstation within 11 minutes
High & Medium Severity
Tuned 30%+ false-positive rate down to under 12% via correlation rules, reduced alert volume per analyst by 60% via SOAR enrichment automation, achieved MITRE ATT&CK coverage of 72% across top fintech-relevant techniques, automated 18 incident response playbooks freeing analyst time for hunting.
Before vs. After
Before Engagement
- Basic SIEM with manual triage
- No SOAR automation
- 14-hour MTTR average
- 60%+ false positive rate
- Credential stuffing undetected 6 weeks
- Single-shift coverage (9-to-5 IST)
After Remediation
- Microsoft Sentinel with 40+ integrated sources
- 18 SOAR playbooks live
- MTTR under 90 minutes for high severity
- False positive rate under 12%
- Real-time credential-stuffing detection
- 24x7 named-analyst managed SOC
"We caught a BEC attempt on our treasury account within 4 minutes via the SOAR playbook. Before this program it would have been days. The investment paid for itself the first month it caught something real."
Anonymous, CISO, mid-size Indian fintech
Key Lessons
What Other Teams Can Take Away
- SIEM without SOAR drowns analysts. Even excellent detection rules generate alert volume that exceeds manual analyst capacity.
- Fintech-specific use cases matter. Generic SIEM rules miss financial logic abuse, transaction velocity anomalies and BEC targeting.
- Adaptive MFA prevents ATO at scale. Conditional Access on risky signals reduces account takeover dramatically.
- Managed SOC scales without headcount. Named-analyst India-based managed SOC delivers 24x7 coverage at a fraction of in-house cost.
Conclusion
Indian fintech faces a uniquely demanding regulatory environment (RBI, PCI DSS, DPDP) combined with high attack volume targeting financial services. SIEM + SOAR with sector-specific detection use cases is the cost-effective answer to scaling security operations without scaling headcount linearly.
The implementation also satisfied enterprise customer security audits, unlocking 12 new B2B partnership deals worth INR 35 crore in annual recurring revenue. Codesecure delivers fintech-specialized SIEM/SOAR implementation with managed SOC services tailored to RBI examination expectations.
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Codesecure is an ISO/IEC 27001:2022 certified cybersecurity firm. We deliver fixed-price engagements with named consultants and executive-ready outcomes across India, UAE, Saudi Arabia, Australia, Singapore and Maldives.
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