2021 Press Releases

May 10, 2021

Palo Alto Networks Simplifies Cloud Security for Funding Societies

Palo Alto Networks, the global cybersecurity leader, announced that Funding Societies has deployed Prisma Cloud, the industry's only comprehensive Cloud Native Security Platform (CNSP), to help secure its multi-cloud resources and workloads.
As Southeast Asia’s largest SME digital financing platform, Funding Societies operates multi-cloud setups across different markets in the region, including Singapore, Malaysia and Indonesia. It was critical for Funding Societies to deploy a cloud native security platform that could satisfy key security needs regardless of where it was deployed. However, native security tools often come with a different set of security standards and best practices, which made it difficult for Funding Societies to monitor its overall cloud security posture and bridge the divide between security and DevOps in the development cycle. With Prisma Cloud, Funding Societies is able to effectively manage its distributed cloud resources, thereby meeting strict compliance requirements and scaling security operations to support the surge in demand for its services during the pandemic.
The deployment of Prisma Cloud provided Funding Societies with extensive visibility into its cloud environment to manage risks across all layers of its architecture using a single integrated platform. Leveraging powerful capabilities such as automated asset inventory, threat detection and response, as well as multi-cloud vulnerability monitoring and prioritisation allowed Funding Societies to move security to the earliest possible point in the development process. This significantly improves its overall security posture with more regular security checks throughout the application development lifecycle. By establishing security controls for the entire stack, Funding Societies was able to protect its cloud infrastructure, identify and prevent breaches in real time, and ultimately protect sensitive customer data.
“The ability to secure risks in a timely manner and build operational resilience have always been key priorities for us. Palo Alto Networks has helped us to elevate our security posture, while addressing gaps in regulatory compliance requirements. The ease of deploying and using Prisma Cloud has also saved us valuable time and resources in the process,” said Shakthi Priya Kathirvelu, Head of Information Security, Funding Societies | Modalku.
“The digital banking revolution in Southeast Asia is in full swing. It's encouraging to be able to empower visionaries such as Funding Societies to support SMEs in their business journey through safe and secure lending,” said Claribel Chai, country manager, Singapore, Palo Alto Networks. “For any business in financial services, a prevention-based approach to security is especially critical to gain customer trust while also adhering to stringent regulations. Having a holistic view of risk and vulnerabilities without multiple single-focus security tools will help organisations capture the unique benefits of the cloud, while ensuring a strong security posture to prevent cyberattacks.”