Alpharetta, GA (November 8, 2022) - Finosec announced that the user access reporting process no longer needs to be labor intensive or complicated, thanks to their User Access Reporting solution. The Finosec solution operates smoothly in tandem with financial institutions and supports more than 100 financial systems and has reviewed more than 11 million user permissions.
There are likely a high number of systems in place at your institution. Running a successful financial institution relies heavily on tools and technologies that will improve the efficiencies of you and your team.
The practice of user access reporting within financial institutions has historically been an arduous process that relies on archaic technology and is both time and labor intensive. While generating multiple user access reports per year would be ideal, many financial institutions, through no fault of their own, often find they can only produce the bare minimum amount of reporting required annually. But as cyber risks continue to grow and the regulatory requirements continue to increase, it is vital that financial institutions can quickly and easily produce these reports, and with increased frequency.
Threats to your cybersecurity and information security programs are not just external. In fact, 60% of security breaches are internal threats. The weakest component in your cybersecurity posture will always inherently be the human link.
In the ever evolving landscape of cyber risk, cyber insurance is more important than ever. This is a policy that is specifically tailored to the cybersecurity and information security needs of your institution, potentially covering incidents such as ransomware, cyber extortion, data destruction, and more. To engage with insurers and take out such a policy, the broker will be asking for information around how you secure your institution, including your user access practices and how you are managing to least privilege. CEO and Founder Zach Duke spends a few minutes sharing the cautionary tale of the National Bank of Blacksburg as well as some things to consider when working to secure this type of insurance. Watch the video then read on for further discussion.
Earlier we discussed the frequency of user access reviews and how often they should be completed. You can read that blog here. It seems that there is a direct correlation between user access review frequency and the difficulties associated with those reviews. A highly manual process will inherently prohibit increased frequency due to increased time requirements. President and CEO Zach Duke talks about the challenges these reviews pose to you and/or your staff, and some next steps on how to make that process a little simpler. Take a couple minutes to watch the video below.
User access reviews can be a complex, time consuming process. Coupled with the regulatory expectations regarding these reviews and their frequency, they prove to be an arduous task that is far too often hindered by reliance on legacy systems. We believe everyone deserves a simple approach to cybersecurity, and user access reviews are no exception. President and CEO Zach Duke asks some questions regarding user access, and FINOSEC would like to hear your feedback on your experiences and opinions on this matter. Watch the video below for more information.