When it comes to cybersecurity, the best defense might just be a great offense. Whereas cybersecurity once focused on how banks could avoid losing money, my team and I are working on a program for 2017 to help officers and directors address potential scenarios (and develop realistic response plans) should a hack, breech or attack occur. Indeed, protecting the bank against a cyber attack is a core responsibility of every member of a bank’s board and executive team.
In recent posts, I’ve highlighted various fintechs that I find compelling given their relationships with financial institutions. In terms of cybersecurity, I’ve had the chance to learn more about companies like DefenseStorm (given their support of companies like nCino and LiveOak Bank) that I greatly respect. Below are five more companies that I think bank leadership teams need to know:
A global cybersecurity solution and service provider, Cognizant supports multiple industry verticals and information security service lines. I encourage you to take a look at their thoughts on what traditional banks can do to rebuild trust in the digital era.
California-based Centrify offers identity & access management solutions to help secure enterprise identities against cyberthreats that target today’s IT environment of cloud computing. Banking customers include such recognizable names as BB&T, SunTrust, Citi and RBS.
Lookout has taken a mobile-first approach to security. Indeed, one of the world’s largest investment management firms chose Lookout to provide threat and data leakage protection to over 10,000 managed iOS and Android devices.
Founded by data scientists and aerospace engineers, Feedzai’s mission is to “make commerce safe for business customers and create a better experience for their consumers through artificially intelligent machine learning.”
Since the founding of Brighterion, its core technology has been adapted and improved for real-time applications in the fields of payment, healthcare, marketing and homeland security. For instance, its analysis of payments provides “unprecedented behavioral insights,” from the spending behavior of customers to the constantly evolving techniques of fraudsters.
As a complement to these five businesses, let me wrap up by sharing a recent FinXTech article:Emerging Technologies Combat Cybercrime. As you will read, banks are doing everything they can to reassure customers that their digital information is safe and secure.