Personal Capital secures its IT systems using Elastic Security solution
With more than 3.3 million users and $22.7 billion in assets under management in the United States, Personal Capital is one of the country’s leading wealth management and financial advice organizations. Founded in 2009, its mission is to transform the lives of customers with award-winning online planning tools supported by a team of financial advisors.
Related to this mission, the company and its customers use tools that need to be supported by innovative information systems. Personal Capital runs its business-critical systems in an infrastructure as a service (IaaS) cloud environment hosted on AWS.
The Personal Capital Security Team protects the company against cyberthreats while ensuring the availability of applications, data, and other technologies.
As financial services is a highly-regulated industry, Personal Capital must preserve historical data according to stringent industry rules. "We needed a technology that automated the ingestion and transformation of data from all sources to meet the needs of stakeholders, from internal teams to regulators," says Eric Sekercan, Security Team Lead, Personal Capital.
Personal Capital deployed the Elastic Security solution using Elastic Cloud on AWS for the data management and security analysis capabilities the solution offers, including endpoint and cloud security monitoring. Elastic is also used to facilitate the company’s internal vulnerability and patching management.
Reducing MTTR, optimizing data storage
The deployment of Elastic Security has dramatically decreased the mean time to respond and gives Personal Capital more flexible control over the security data lifecycle. “We can configure Elastic Security to our exact needs, especially when it comes to data conservation. We use Elastic’s Frozen Tier and Searchable Snapshots for more cost-effective hot and cold data management,” says Sekercan.
Additionally, the Elastic pricing model is much more cost-efficient than before. Personal Capital now pays for how data is used, not the volume of data consumed. Instead of paying for features that aren’t needed, the security team can fine-tune Elastic Security for greater control and visibility over their annual spend.
Fast support response for a secure future
Personal Capital is also appreciative of the responsiveness of the Elastic support team.