Advanced cybersecurity, purpose-built exclusively for community banks. (Draft)
Taking action to defend cyber-attacks
|The community banking landscape has changed. As threats upon the banking community continue to rise and evolve with more sophisticated and creative methods, as well as the increased risks associated with our changing work environments, the need to address cyber threats against banks leads to a new approach. Switching strategy to utilize an action-oriented, comprehensive and holistic approach becomes the solution.
Cyber-attack activity is increasing at unprecedented levels. According to Infosecurity magazine, cyber-attacks on the banking community increased by 238% in 2020.* And Varonis recently noted the rises due in particular to the changing working environment with new inroads, and that the banking industry continues to have the highest costs of cybercrime.** The bank technology industry has responded with strategies to combat against cyber-attacks. These responses include Endpoint Detection and Response (EDR) tools, utilization of Security as a Service (SaaS) solutions and a re-emphasis of the importance of Security Operation Centers (SOC) as well as a refreshed focus on the regulatory environment.
Leveraging artificial intelligence, event correlation and automated rapid response measures to deliver an action-oriented solution for the best defense against cyber-attacks. UFS, the technology outfitter for community banks has introduced the next generation cybersecurity solution as they bring SureProtect to market. This comprehensive service solution allows banks to take an action-oriented model to defend against these dangerous attacks. SureProtect leverages artificial intelligence machine learning, event correlation across all feeds plus a 24/7 security operations model to deliver a customized cybersecurity solution exclusively for community banks.
“SureProtect is the next generation Security as a Service solution that focuses on threat mitigation that enables immediate action against potential threats. This is a critical component in the community bank cybersecurity arsenal and we’re really pleased to be able to offer this to our customers.” – Mike Venaccio, VP Bank Technologies with UFS.
- Zero-day attacks – prevents threats without history, discovered through learning activity and taking action when it sees abnormal behavior. It is continuously learning.
- Ransomware – SureProtect includes many features designed to remediate and stop ransomware before it has the opportunity to take lateral movement and has in many cases the option clean and even roll-back devices to known safe states.
- Rapid Response – includes 24/7 security experts monitoring and surveying behaviors and conducting immediate action upon suspicious activity.
- Reporting / Compliance – SureProtect includes reporting features as proof points for banks to provide to auditors and examiners. SureProtect answers many questions from the Federal Financial Institutions Examination Council (FFIEC) Cybersecurity Assessment Tool (CAT) and it provides advanced analysis to comply with anticipated regulatory compliance requirements coming due to the rise in cyber activity.
The FFIEC CAT (https://www.ffiec.gov/cyberassessmenttool.htm) is an assessment tool for banks to assess their risks and cybersecurity preparedness. Through the tool, banks will address aspects from detection, response ability and migration at a baseline level to threat intelligence and innovation. SureProtect provide answers to many elements of the assessment tool ranging from baseline needs, to evolving, intermediate, advanced as well as innovative categories.
A balanced risk management strategy will include a Security Information & Event Management (SIEM) solution to maintain focus on compliance and adding an action-oriented threat mitigation solution such as SureProtect to take a comprehensive approach to defending cyber-attacks.
SureProtect versus Traditional Antivirus options
|Security Features||SureProtect||Traditional Anti-virus|
|Agent-Based Installation: enables mass deployment on a schedule through an automation tool.||X||X|
|Manual Installation: requires manually logging into a device and running the installer manually on each device.||X||X|
|Real-Time Monitoring: discovers threat activity quickly with alerts whenever a threat is detected or neutralized.||X||X|
|Roll-back capability: Attacks are automatically contained and neutralized, and compromised files are automatically replaced by the last known healthy version.||X|
|Monitoring during execution: monitor processes before, during, and after execution, to prevent new threats from slipping in.||X|
|Artificial Intelligence Based Monitoring: is comprised of monitoring software and endpoint agents, SureProtect uses integrated machine learning and advanced artificial intelligence (AI) to identify suspicious behaviors.||X|
|Signature Based Monitoring: is a process where a unique identifier is established about a known threat so that the threat can be identified in the future.||X|
|Integrated Security Data: allows banks to strengthen their security environment by combining multiple products that connect through the SIEM such as SureProtect.||X|
|Event Correlation: takes data from either application logs or host logs and then analyzes the data to identify relationships and patterns.||X|
|Threat Hunting: is a feature that analyzes files continuously, replacing time-intensive recurring scans.||X|
|24/7 Security Operations Center: is a command center facility for a team of information technology (IT) professionals with expertise in information security who monitor, analyze and protect an organization from cyber-attacks.
To learn more about SureProtect, other cybersecurity solutions, managed I.T. services, core banking applications or any other bank exclusive technology, please contact UFS for more information. 262.376.3000 | email@example.com | www.ufstech.com
*infosecurity Magazine https://www.infosecurity-magazine.com/news/attacks-on-banks-spike-238-during/