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11 Dec 2024

Industry:Financial Services

3 min reading time

Financial Giant Cuts Remediation Costs by 50 Percent

A woman talking to a man in an office environment.

A stock exchange-listed financial services company needed to transform their approach to penetration testing.

What began as multiple ad-hoc security assessments evolved into a streamlined, efficient framework that transformed both testing and remediation processes while significantly reducing costs and time to resolution.

The challenge

The company faced common challenges with their penetration testing program: short-notice demands, multiple concurrent tests, and inefficient reporting processes that created friction between security and development teams.

Key issues included:

  • Multiple uncoordinated penetration testing programs
  • Short-notice testing requirements
  • Inefficient traditional reporting methods
  • Need for rapid remediation support
  • Burdensome engagement processes

The solution

Chaleit implemented an innovative, frictionless approach that included the following:

Process transformation

  • Eliminated traditional report writing
  • Implemented digital reporting through Confluence and Jira
  • Created direct communication channels via Teams/Slack
  • Established a flexible commercial framework for instant engagement
  • Integrated with the client's existing tools and platforms

Operational innovation

  • Developed variable depth testing based on needs
  • Incorporated threat modelling to focus testing efforts
  • Enabled real-time collaboration with development teams
  • Implemented asynchronous communication processes
  • Created Kanban-based progress tracking

The outcome and aftermath

The transformation yielded significant improvements across the organisation:

Efficiency gains

  • Reduced penetration testing costs by 30%
  • Cut remediation costs by 50%
  • Decreased retest time from days to minutes
  • Eliminated report preparation overhead
  • Enabled real-time issue resolution

Process improvements

  • Achieved seamless team collaboration
  • Established a continuous engagement model
  • Created real-time visibility for management
  • Enabled deeper, more effective remediation
  • Maintained a complete audit trail

What made this engagement particularly successful was its focus on removing friction from the entire process.

By reimagining traditional penetration testing approaches and focusing on outcomes rather than outputs, we created a more efficient and effective security program.

Key takeaways

  1. Traditional penetration testing approaches often create unnecessary friction.
  2. Integration with client systems enables more efficient collaboration.
  3. Real-time communication dramatically improves remediation effectiveness.
  4. Success metrics should focus on resolution speed rather than issue count.
  5. Breaking down barriers between security and development teams yields better results.
  6. Cyber security partnership models can significantly reduce costs while improving outcomes.

The engagement demonstrates how rethinking traditional security testing approaches can transform both efficiency and effectiveness. Through process innovation and focus on outcomes, the client achieved better security results while significantly reducing costs and effort.

Want to transform your security testing program from a periodic burden into a streamlined, continuous process?

Contact us to discuss how our approach (dubbed pen testing 2.0) could benefit your organisation.

Contact us

About this article

Industries:

  • Financial Services

Service Areas:

  • Penetration Testing

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