Cybersecurity: A Requirement, Not a Luxury
By Krystal Rennie / Adlumin, Inc.
It’s officially October, and you know what the means: we are kicking off National Cybersecurity Awareness Month (NSCAM). This could not come at a better time as financial institutions are currently facing considerable challenges when protecting sensitive personal and financial data from breaches, especially amid the pandemic. With that being said, cybersecurity and compliance should be at the top of every financial institution’s priority list. But, before we dive in headfirst, let’s take a step back to examine what cybersecurity is and how your company can implement the proper security measures.
What Should you Look for in a Cybersecurity Solution?
In today’s market, there is an increased demand for a strong security and compliance automation platform. This stems from the fact that more financial auditors require tools like this to satisfy the requirements for FFIEC CAT and NCUA ACET compliance, as well as exposure to vulnerabilities, attacks, criminals and other cybersecurity threats. Finding a platform to match your organization’s needs and budget can be difficult. Roadblocks tend to occur due to a lack of knowledge about security analytics platforms and how they actively work with your network. Platforms like Adlumin will better enhance the productivity and security of your organization. Below are a few key features to look out for:
- User & Entity Behavior Analytics (UEBA)
- Prevent Privilege Abuse and Account Takeover
- One-Touch Compliance Reporting
- Compliance Reports Designed Exclusively for Financial Institutions
- Integrated Threat Intelligence in Real-Time
- Managed Compliance, Detection and Response (MCDR)
- 24/7 Search for Compromised/Leaked Accounts on the Deep and Dark Web
These are just a few examples of what an ideal security and compliance platform should look like. If your financial institution is looking to invest in an effective platform to secure its network accounts, it is critical that you do your research and are aware of the platform must-haves.
Protect Your Financial Institution
When shopping for a reliable, easy-to-use security and compliance automation platform, it is important to consider features that will make your team’s lives easier and play a major role in the company’s productivity. Your organization’s goal should be to find a platform that will improve the overall network health and efficiencies of cyber resources. Trusting a security platform to do substantially more work than your team has the capacity to do, is the quickest way to ensure your network is secure and put your team members at ease.
Whether you are a large, or small organization or monitor millions or billions of dollars in assets, your company deserves to feel like its credentials and its enterprise network are safe from malicious intruders. It’s time that we all embrace the advancements in technology and make implementing a next-generation Security Information and Event Management (SIEM) for financial institutions a requirement, not a luxury.