Extended Detection and Response (XDR) is an emerging cybersecurity category that is transforming how businesses protect their digital assets. It is a security strategy that integrates multiple security products into a cohesive system, which can detect, analyze, and respond to threats across an organization’s entire digital estate. Unlike traditional security measures that operate in silos, XDR provides a holistic view of the IT ecosystem, bringing together data from various sources to enhance the overall security posture.
XDR isn’t just another buzzword in the crowded cybersecurity market. It represents a meaningful shift toward a more integrated and sophisticated approach to threat detection and response. By consolidating and correlating data from various security products, XDR offers a new level of visibility into the security stack, allowing organizations to identify and respond to threats more effectively and efficiently.
XDR is more than just a technology or a product; it is a philosophy that emphasizes the importance of integration and collaboration in cybersecurity. By breaking down the silos and fostering cooperation among different security tools, XDR enables organizations to take a more proactive and comprehensive approach to defending against cyber threats.
How XDR Works
XDR works by consolidating and correlating data from various security products, then applying advanced analytics and artificial intelligence (AI) to detect and respond to threats. The XDR platform collects data from endpoints, networks, servers, and cloud services, among other sources. It then aggregates this data and uses AI to analyze it for signs of malicious activity.
Once a potential threat is detected, XDR uses automation to respond quickly and effectively. This might involve isolating an infected endpoint, blocking a malicious IP address, or taking other actions to mitigate the threat. By automating these processes, XDR reduces the time it takes to respond to threats, thereby limiting their potential impact.
In addition, XDR provides the ability to conduct in-depth investigations into security incidents. By bringing together data from different sources, it offers a comprehensive view of the security landscape, making it easier to understand the nature and scope of a threat. This, in turn, aids in devising effective response strategies and improving the organization’s overall security posture.
5 Ways XDR is Changing the Security Industry
1. Streamlined Security Operations
One of the most significant ways XDR is reshaping the security industry is by streamlining security operations. Traditional security measures often operate in silos, each generating its own set of alerts. This can create a deluge of information that is difficult to manage and analyze. XDR, on the other hand, consolidates these alerts into a single, manageable stream, making it easier to identify and respond to threats.
2. Enhanced Threat Detection and Response
XDR also enhances threat detection and response. By integrating multiple security products, it provides a holistic view of the security landscape, making it easier to spot patterns and anomalies that might indicate a threat. Additionally, XDR uses artificial intelligence and machine learning to analyze data, increasing the speed and accuracy of threat detection. Once a threat is detected, XDR uses automation to respond quickly and effectively, limiting the potential damage.
3. Reduction in Alert Fatigue
Another significant benefit of XDR is the reduction in alert fatigue. With traditional security measures, security teams are often inundated with alerts, many of which turn out to be false positives. This can lead to alert fatigue, where important alerts are overlooked due to the sheer volume of notifications. XDR addresses this issue by consolidating and prioritizing alerts, reducing the volume of notifications and making it easier to identify genuine threats.
4. Improved Security Posture
By providing a comprehensive view of the security landscape and enabling quick and effective responses to threats, XDR improves an organization’s overall security posture. It helps organizations identify weaknesses in their security measures, devise effective response strategies, and take proactive steps to prevent future threats. This, in turn, increases the organization’s resilience against cyber attacks.
5. Proactive Security Measures
Finally, XDR enables organizations to take a more proactive approach to security. Instead of reacting to threats as they occur, organizations can use the insights provided by XDR to anticipate and prevent potential attacks. This shift from a reactive to a proactive security posture is a game-changer, as it allows organizations to stay one step ahead of cybercriminals.
Best Practices for Using XDR
If your organization is considering adopting the XDR paradigm, here are some best practices that can help you use it effectively.
Implement Comprehensive Coverage
XDR works best when it can draw data from as many sources as possible. Therefore, it’s important to implement comprehensive coverage across your entire digital estate. This includes endpoints, networks, servers, and cloud services, among other things. The more data you can feed into the XDR system, the better its threat detection and response capabilities will be.
Integrate XDR with Other Security Tools
XDR is designed to work in conjunction with other security tools, not replace them. Therefore, it’s important to integrate your XDR solution with your existing security infrastructure. This will allow you to leverage the strengths of each tool, resulting in a more robust and effective security posture.
Train Your Security Team
Even the most sophisticated XDR solution is only as good as the people who use it. Therefore, it’s crucial to train your security team on how to use the XDR system effectively. This includes understanding how the system works, how to interpret its findings, and how to respond to threats. Regular training sessions can help ensure that your team is up to speed on the latest features and capabilities of your XDR solution.
Regularly Review Incident Reports
Finally, it’s important to regularly review the incident reports generated by your XDR system. These reports can provide valuable insights into the threats you’re facing, the effectiveness of your response strategies, and the areas where your security measures may be lacking. By regularly reviewing and acting on these reports, you can continuously improve your security posture and stay one step ahead of cybercriminals.
In conclusion, Extended Detection and Response (XDR) is an essential evolution in cybersecurity that transcends the traditional approach of siloed security measures. By integrating multiple security products and fostering a collaborative cybersecurity environment, it provides a holistic and comprehensive view of the security landscape. XDR is not merely a product or technology but a transformative philosophy that facilitates proactive and efficient responses to threats, thereby substantially enhancing an organization’s security posture.
XDR streamlines security operations, boosts threat detection and response, mitigates alert fatigue, improves overall security posture, and paves the way for proactive security measures. However, leveraging XDR’s full potential requires implementing comprehensive coverage, integrating XDR with existing security tools, training the security team in its effective usage, and regularly reviewing incident reports.
The adoption and efficient implementation of XDR could mark a significant step forward in the cybersecurity industry. With continuous advancements in the field, businesses must be open to embracing such innovative strategies to protect their digital assets and stay ahead of evolving cyber threats.
Fintech Kennek raises $12.5M seed round to digitize lending
London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.
According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.
The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:
“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:
“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.
The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.
Featured Image Credit: Photo from Kennek.io; Thank you!
Fortune 500’s race for generative AI breakthroughs
As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.
Goldman Sachs’ Cautious Approach to Implementing Generative AI
In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.
According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.
One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.
To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.
Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.
Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!
UK seizes web3 opportunity simplifying crypto regulations
As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.
Streamlining Cryptocurrency Regulations for Innovation
To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.
The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.
Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.
The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.
Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!