For banks and credit unions, the financial, operational and reputational costs of waiting to combat cyber-attacks until after they happen are too great. With its dynamic nature, cyber must be treated as a risk management issue, allowing you to stay ahead of threats. That’s what DefenseStorm’s built for banking cyber security risk management solution delivers.
Let’s be clear: there’s no other business quite like a financial institution. Safeguarding customers’ assets, complex technologies and daunting regulations are some of the factors that set you apart. They also mean you must take a different approach to cyber security risk management.
No business manages risk, including lending and credit, like a financial institution. Now you can bring the same level of discipline to cyber security risk management.
DefenseStorm is your ally in the fight. Our solutions bring together advanced, AI-driven technology with a highly-skilled security operations team. You get integrated risk assessment, cyber security threat surveillance and proactive fraud detection – all while ensuring you maintain and can prove regulatory compliance.
This is how you move from a reactive cyber risk posture to proactive cyber risk readiness.
It’s ’s why DefenseStorm is The Best Offense.
DefenseStorm combines powerful solutions into a single platform powered by GRID Active, our intelligent data engine, which constantly gathers, analyzes and reports real-time insights on evolving cyber security risk.
Strengthen your cyber security risk management practices through risk assessments that allow you to identify new and emerging risks, realize changes in risk levels, and make informed risk-based decisions to better manage cyber risk.
We monitor your cyber security program and automate evidence collection to prove you adhere to industry and regulatory control frameworks.
The best offense is understanding the threats against you. GRID Active leverages machine learning and advanced technologies and capabilities to monitor new threats and help you stay ahead.
We deliver a proactive approach to monitoring and protection to stop fraud before funds ever leave your FI.
DefenseStorm offers integrated cyber risk management solutions to empower financial institutions to stay protected against new and emerging threats.
If it’s not clear to you already, as a bank or credit union your institution is vastly different from other businesses. A solution that works for your local car dealer, manufacturing plant or school is simply not designed to meet the unique requirements of your institution.
DefenseStorm reached that same conclusion early on in our journey. Thousands of companies were attempting to tackle the enormous challenge of cybersecurity, but they didn’t specialize, instead applying the same general solutions across different industries. For us, it confirmed that being built for banking is how we could best serve organizations like yours. We’ve maintained that commitment over the years and it’s allowed us to develop a loyal base of very satisfied customers. Talk with one of them, and you’ll understand why our NPS score is 78.
As we go forward together on this journey, there are three forces shaping how banks and credit unions need to think about cyber threats.
The first relates to risk. While financial institutions are experts at managing risks in their loan and credit portfolios, that same level of discipline is not applied to cyber. The dynamic, continually evolving nature of cyber threats mean they need to be treated similarly as other risks. While many institutions believe what they’re doing is “good enough”, in reality, they’re at significant risk. Addressing this requires application of a risk mindset and management disciplines to cyber.
Next, banks and credit unions have a tendency of seeing cybersecurity as just another tech application. Another problem for the IT guys to fix. This limited view again opens the door to more risk. And the digital transformation initiatives many institutions are pursuing often happen without consideration for the impact on cyber risk. Net, effective cyber risk management involves a lot more than just cybersecurity technology. For one thing, it requires tight and continuous integration with risk assessments and governance programs.
The third issue is that the people charged with doing this kind of work face unbelievable pressure. Our infosec clients routinely tell us that they expect more threats, regulation and cost pressure. As one said, “I only get to be wrong once.” At the same time, they struggle to align their efforts with other growth and expansion efforts across the institution, making it hard to create a case for change in order to do what’s right for the institution. Solving this problem requires a broader understanding of and accountability for cyber risk across the institution.
Yes, these are daunting challenges. But the proven ability to tackle them is what sets DefenseStorm apart. By combining a risk management discipline with specialized built for banking products, we help our clients achieve what we call cyber risk readiness. It’s a fundamental shift from the fear of constant attacks to the hope that comes from knowing you’re actually getting ahead of the problems.
DefenseStorm is backed by CIBC Innovation Banking, Curql, Georgian, JAM FINTOP, and TTV Capital. This funding accelerates DefenseStorm’s strategic growth initiatives to establish greater platform efficiency and scalability.
