Financial Services Firm ALPS Holdings Inc. Reaps Big Returns from Investment in LogRhythm SIEM 2.0 Technology

Log Management/SIEM Platform Monitors Systems, Applications and Files to Detect Security Threats and Provide Deep Visibility into Network Activity 

BOULDER, Colo., April 25, 2011 – LogRhythm, the company that makes log data useful, today announced that ALPS, a leading service provider to the financial services industry, has significantly simplified security monitoring, management and regulatory compliance since deploying its platform one year ago. ALPS is expanding its LogRhythm deployment with the addition of the File Integrity Monitoring (FIM) module to detect unauthorized changes and malware across its business critical applications.  LogRhythm has enabled ALPS to gain deep visibility into security threats and suspicious activity across its network, systems, and applications – from a single pane of glass.

Established in 1985, ALPS has nearly 350  employees across its  four US locations and as of December 31, 2010, the firm manages more than $2.7 billion in assets and provides servicing to more than $288 billion in client assets. ALPS selected LogRhythm to automate security monitoring for hundreds of servers, databases, network devices, security appliances, and applications that span three datacenters, and to meet GLBA (Gramm-Leach-Bliley Act) compliance requirements.

“LogRhythm has allowed us, with one easy-to-use platform, to meet GLBA regulatory compliance requirements, monitor our network and critical applications for security threats, and quickly investigate problems,” said Pete Blood, IT Security Professional for ALPS. “With very little effort, we have been able to develop specialized rules to monitor our custom applications for suspicious activity, and protect sensitive files from unauthorized changes. LogRhythm gives us deep visibility into our IT environment, which makes it much easier to secure.”

LogRhythm Delivers for ALPS

ALPS maintains several custom web applications that are critical to its business including a portal that provides customers with access to account information and shareholder reporting data. The company also uses back office applications for mutual fund accounting and transfers that must be kept secure and always available. LogRhythm enables ALPS to protect these critical information systems and sensitive data through centralized log and security event monitoring and management.

“With LogRhythm we generate results faster, and we quickly find bad log-in attempts, multiple user IDs from the same IP address, and symptoms that show someone is trying to get into the system,” added Blood. “It’s very simple to check the Windows, firewall and custom app logs, which is an important benefit—if someone is trying to get into the system, we need to know.”

Some of the ways ALPS is using LogRhythm include detecting:

• New machines that log into the network
• Failed login attempts
• Configuration changes to key applications
• Malware infections
• Attempted security breaches
• Modifications to critical files

“The mutual fund industry is a real-time, high stakes environment with strict privacy and security requirements. For a company like ALPS, which provides outsourced administration services for multiple fund companies, keeping IT systems safe and available is mission critical,” said Preston Lawhorne, vice president of sales for LogRhythm. “LogRhythm allows the ALPS security team to centrally monitor and be alerted to subtle activity and changes across its network, systems, applications, and even files, to head off any security threats or operational problems before they can impact the business.”

About LogRhythm

LogRhythm, the leader in log management and SIEM 2.0, delivers log and event management, file integrity monitoring, and network and user monitoring in a single integrated solution. LogRhythm empowers organizations to comply with regulations, secure their networks, and optimize IT operations. The company received the coveted “Recommended” 5-star designation from SC Labs for SIEM and has received SC Magazine’s Innovator of the Year Award, Readers Trust Award for “Best SIEM” solution and the “Best Buy” designation for Digital Forensics. It is a winner of the 2010 Red Herring 100 Award and was placed by Gartner Inc. in the visionaries quadrant of the Security Information and Event Management (SIEM) Magic Quadrant report for 2010. LogRhythm is privately held and based in Boulder, Colorado with European Headquarters in Maidenhead, England, and Asia Pacific operations in Hong Kong. For more information visit: www.logrhythm.com.