Case Study: a Fortune 500 financial institution improves insider fraud detection and regulatory compliance with Teramind

Fortune 500 Financial Institution Builds Insider Fraud Solution to Protect Customer Data and Meet Regulatory Compliance

A Fortune 500 financial institution faced the challenge of not having oversight into how employees were handling sensitive customer data, particularly within custom-built applications. This inability to track data usage and a lack of context for incidents left the bank vulnerable to insider fraud and regulatory non-compliance. To address this, they turned to the user and entity behavior analytics and other services from Teramind.

Teramind implemented a solution using its in-app field parsing technology to monitor activity at the individual field level within the bank's custom applications. This provided the institution with accurate, contextual visibility into employee behavior, enabling them to detect anomalies and build custom automated responses. As a result, the bank successfully created a robust insider fraud mitigation program, enriched its threat intelligence with forensic evidence, and achieved its regulatory compliance commitments.