LQID

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Integrating Security and Compliance within Fintech

LQID will be a new start-up bank on the UK high street, launching 2019 providing retail banking services to the general public and small to medium sized businesses. 

The Challenge

LQID as a start-up has the benefit of being a cloud first, cloud only business — an approach designed to give the company the horizontal and vertical scalability needed. To support this level of agility, LQID hosts its critical infrastructure on Amazon Web Services (AWS). LQID operates in a highly regulated sector with the security of customer and company data being fundamental to the organisation as they must adhere to the Payment Card Industry Security Standards (PCI DSS Compliance), General Data Protection Regulation (GDPR Compliance) and the authority Information Commissioner’s Office (ICO)

The LQID business model is data and security centric with implementing secure standards, monitoring, and testing, but they are aware of their limitations with a small team to implement a comprehensive security strategy in-house alone. LQID needed a security partner who they can rely upon and Alert Logic stood out as the premier partner.

Data security is fundamental for LQID – the company holds customer data related to payments and to the way they run their personal lives. Data loss would have impact on everybody – customers, businesses and people’s perception on banking in general. It’s key to LQID that the data is kept secure. As a new startup they have to build everything from scratch, as a consequence not only are they trying to develop securely, but also implement a secure environment to have a certain degree of confidence when the bank is finally launched. Consequently, LQID need to implement not only secure standards, but also network security monitoring, testing and maintenance

Why Alert Logic?

“The value Alert Logic brings is the security and comfort associated with us doing business, knowing our systems are being monitored, knowing our systems are being managed, knowing that we will be alerted whenever there is an issue which has been identified gives us the comfort and confidence that we can go out and continue to provide the service that we need to our customers”. LQID is a small organisation, therefore the knowledge and experience that Alert Logic brings to monitoring, their capability and understanding of the marketplace and their connections to the broader security environment mean LQID get the benefit of an organisation which is centred on security bringing that knowledge to them.

The Results

“The Alert Logic team have been flexible in terms of supporting us whatever time of the day or night we need and they’ve been incredibly helpful in terms of the information they provide and the support they’ve given our technology implementation team”.

“The knowledge and experience that Alert Logic brings to monitoring, there capability and understanding of the market place and their connections out to the broader security environment mean that we get benefit of an organisation which is centered on security bringing that knowledge to us”.