We are a small bank of about $250mil. We are starting to get requests from our third party audit to look at implementing log correlation and reporting software to meet regulatory guidence. Everything we have looked at so far seems to be quite expensive. We are wondering if anyone has come across a good product or what other banks are doing about log file management. Any advice is appriciated.

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We are slightly bigger than $1b and do not have this capability right now. I have looked and see the same products as you. Most commercial products are in the $50k -$60k range plus a yearly maintenance fee. You might look at SNARE. It has some open source bits and pieces that may get you working. It also has a commercial version. The open source doesn't work for a company our size so we looked into the commercial version, but sadly it is around $20k plus a yearly maintenance fee. Keep me posted if you find anything else.