LogRhythm Teams up with eFinance to Enhance Digital Payment Security in Egypt
LogRhythm has partnered with eFinance to use LogRhythm SIEM, LogRhythm’s security information and event management (SIEM) solution, to rapidly detect and mitigate threats in Egypt’s digital payment security ecosystem.
LogRhythm will safeguard eFinance’s operations across the entire Egyptian payment network, establishing the company’s reputation as a reliable fintech provider in the region.
eFinance benefits from reduced mean time to detect (MTTD) and mean time to respond (MTTR) by incorporating LogRhythm SIEM into its security systems. It gains a scalable, accessible, and simple-to-integrate solution that will allow it to set up a fully functional security operations center (SOC) with a unified security solution that will scale with its business.
“The fintech sector is a massive target for threat actors as they continue to launch attacks on industries that give them the biggest pay-out. Egypt must strengthen its security posture to keep consumers safe and maintain trust within the digital economy. Our SIEM solution is providing the tools for eFinance to detect security issues before they can cause damage,” said Mazen Adnan Dohaji, General Manager and Vice President, IMETA at LogRhythm. “As the digital payment ecosystem continues to grow, creating a safer financial environment for businesses, governments and customers is more important than ever. We’re working in partnership with eFinance to transform digital payment security and create better financial customer experiences throughout the region.”
eFinance can now use custom rules to protect its critical servers and quickly resolve security issues. Its SOC benefits from a single point of contact for complete visibility across its entire network. This enables eFinance to detect risks earlier in the Cyber Attack Lifecycle and provide a secure service to its Egyptian customers.
“Not many SIEM solutions on the market support our need to scale. LogRhythm SIEM provides us with a flexible, scalable, and reliable solution that can evolve to match the ever-changing threat environment,” said Mahmoud Dorgham, InfoSec Head at eFinance. “LogRhythm’s integration capabilities, and its user-friendly interface and dashboards allow our analysts to drill down on emerging security risks in real time. With LogRhythm we know our security needs are covered. This means we can focus on the continued development of our digital financial network whilst overcoming significant security threats.”
eFinance is an Egyptian national developer of digital payments infrastructure that has successfully established a solid foundation for providing industry-leading fintech solutions across the country. It is an essential partner in the Egyptian government’s digitization push. Its flagship Government Financial Network processes approximately 500 million transactions per year totaling 1.6 trillion Egyptian Pounds (EGP) between government payments and collections.