Leading European commercial bank implements HackGATE™ to achieve higher transparency in security testing projects

Their experience with HackGATE™: The future of ethical hacking testing projects
Published on
June 4, 2024

Ethical hacking projects enable security-conscious organizations to identify weaknesses and proactively mitigate potential threats. However, effectively managing the work of ethical hackers can pose a significant challenge.

In this case study, we will provide in-depth insights into how one of Hungary’s largest financial institutions has implemented HackGATE, our managed monitoring solution designed for enterprises during a recent ethical hacking project.

Meeting security demands in the finance and banking sector

Finance and banking are one of the most regulated industries in the world: banks and financial institutions are required to fulfil extremely strict and constantly evolving security requirements. The level of security of a financial institution is judged primarily by how well digital transactions and personal data are protected online. Even the smallest security concern can lead to customers losing confidence and switching to another bank.

For our client - one of Hungary’s largest commercial banks - protecting user data and meeting security standards is of utmost importance. To maintain their strong position against security breaches, they regularly conduct penetration testing and a number of other security checks. A few months ago, they recognized the growing necessity to improve the visibility of their penetration testing projects while simultaneously minimizing the operational burdens associated with security tests.

The institution embarked on a search for a comprehensive solution that would fulfil all of their requirements. Their primary objectives were efficient access control to their internal IT system and seamless tracking of all pen testers throughout the process.

Introducing HackGATE, the industry’s first managed gateway for ethical hacking projects

Following thorough research and comparing different providers, they found the perfect fit in HackGATE, a tailored solution created by Hackrate for supervising security testing activities and enhancing the accountability of pen testers.

Hackgate infrastructure and communication flow
A visual representation of the system's infrastructure and communication flow.

Choosing HackGATE as their enterprise-level monitoring tool for their penetration testing projects turned out to be the perfect decision for the company. The bank's IT security team was highly impressed with the comprehensive reports provided by HackGATE. They were particularly pleased with the attentive support and responsiveness of Hackrate's team, who promptly addressed any inquiries or concerns they had.

As the bank’s Chief Information Security Officer explained:

"The level of transparency that HackGATE offers allows us to monitor results effectively and enhance the accountability of ethical hackers."

Moreover, on behalf of the entire team, he also expressed satisfaction with the seamless setup and user-friendliness of HackGATE. Since the configuration process was managed by Hackrate’s tech support specialists, the bank’s security team only had to give permission to HackGATE’s IP address on their internal firewall.

"We employed HackGATE for our security testing and were genuinely impressed by its capabilities. It is safe to say that HackGATE has revolutionized our ethical hacking projects."

The results: streamlined penetration testing, higher transparency & strengthened security

HackGATE has truly streamlined the management of the bank’s penetration testing projects. Through the transparent platform, it effectively addressed the challenge of overseeing the work of ethical hackers. Additionally, by providing comprehensive reports on each user's actions throughout the project, HackGATE has proved to be invaluable in monitoring user activities.

"The lack of transparency around ethical hacking projects and crowdsourced security testing deprives organizations of realising these solutions' full potential. Monitoring and controlling play a vital role in achieving transparency. Recognizing the significance of this, we developed HackGATE - the industry’s first platform designed to establish transparent processes and enable organizations to confidently embrace the advantages of ethical hacking projects"

– Balázs Pózner, CEO & Founder at Hackrate.

Closing thoughts

At Hackrate, we aim to empower businesses to achieve unparalleled transparency throughout their penetration testing projects. For institutions seeking an enterprise-level monitoring solution that caters to both ethical hacking initiatives and the supervision of security testing activities, while enhancing pen testers' accountability, HackGATE offers an ideal solution.

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The company we discussed had nothing but positive feedback about using HackGATE on their recent security testing project – so why not give it a try?

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