WHY DEFENSESTORM
With the ever-evolving threat landscape and stringent requirements to prove cybersecurity compliance, it’s time to move to cyber risk management, the continuous process of preventing, detecting, assessing, and mitigating cyber threats.
Financial institutions operate in an environment of constant change, and, therefore, constant and evolving risk. You manage the risk associated with other areas of your business, such as loans and credit. Since the nature of these areas is dynamic and changing, a risk management framework is used to identify, measure, mitigate, monitor and report on the risk involved, in an on-going and never-ending cycle. We know that the same discipline must be applied to cyber risk as it is uniquely dynamic, a result of two factors.
Cybercriminals are always on the watch, seeking out weaknesses that enable them to penetrate a financial institution’s defenses.
Expanded digital offerings, upgraded technology at existing branches or opening new branches, and even adding new employees are all reasons to celebrate change, but they all open the door to additional cyber risk.
Our solutions bring together advanced, AI-driven technology with a highly-skilled security operations team. You get integrated risk assessment, cybersecurity threat surveillance and proactive fraud detection – all while ensuring you maintain and can prove regulatory compliance.
To strategically protect your most valuable assets and customer data, a defensive approach to cybersecurity is fundamental. However, your financial institution operates in an environment of constant change and, therefore, constant and evolving risk.
To address the constantly evolving risk landscape, you need to add an offensive approach to the traditional defensive state.
Cyber risk management is the process of preventing, identifying, assessing, and managing the risks associated with cyber threats and vulnerabilities. This includes understanding the potential impact of a cyberattack on your institution’s reputation, operations, and finances, as well as developing and implementing strategies to manage those risks. Designing a robust cyber risk management solution requires data from thorough and continuous risk assessments. This approach is essential to improve and maintain an efficient level of cyber risk readiness.
How do you measure up? Take this quick self-evaluation to determine your risk-related priorities.
Protecting your institution requires a defensive and offensive approach to cyber risk management. Read how to do both.
Before they met DefenseStorm, the credit union was operating with an in-house system network administrator and realized they were drastically under-resourced to host the kind of system required to manage their level of cyber risk.