Bitsight for Credit Unions

The financial services industry is a high value target for threat actors. Firms in this sector are 300 times more likely to be targeted by a cyberattack and over 50% of these companies are at heightened risk of becoming a victim of ransomware.

The National Credit Union Administration announced the mandate in a proposed rule that cites the financial industry's vulnerability to ransomware and other cyberattacks. The proposed rule would require federally charted credit unions to report within 72 hours any incident that leads to the "substantial loss" of confidentiality, integrity or availability of member information.

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The financial services industry is a high value target for threat actors. Firms in this sector are 300 times more likely to be targeted by a cyberattack and over 50% of these companies are at heightened risk of becoming a victim of ransomware.

The National Credit Union Administration announced the mandate in a proposed rule that cites the financial industry's vulnerability to ransomware and other cyberattacks. The proposed rule would require federally charted credit unions to report within 72 hours any incident that leads to the "substantial loss" of confidentiality, integrity or availability of member information.

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Gain the insights you need to secure customer data, mitigate third-party risk, and maintain regulatory compliance

Understand and secure your firm’s expanding attack surface

Understand and secure your firm’s expanding attack surface

Determine if your third parties put your business at risk

Determine if your third parties put your business at risk

Maintain your firm’s reputation for excellence

Maintain your firm’s reputation for excellence

Stop talking about cybersecurity in tech terms, start talking about real business risk

Stop talking about cybersecurity in tech terms, start talking about real business risk

Manage Security Performance Across Your Credit Unions' Ecosystem

Financial Services Security Performance Management

Manage Security Performance Across Your Credit Unions' Ecosystem

Measure, monitor, and maintain ongoing security performance across payment systems, financial records, customer accounts, cloud services, vulnerable legacy systems, and more.

With Bitsight for Security Performance Management, you can take a data-driven, proactive approach to assessing and evaluating your company’s expanding attack surface. With these insights you can reveal hidden risk, prioritize investments, inform resource allocation – and reduce your firm’s liability.

Expose and Mitigate Third-Party Cyber Risk from Financial Partners

TPRM Portfolio Risk Matrix

Expose and Mitigate Third-Party Cyber Risk from Financial Partners

Credit Unions are part of a vast interconnected, third-party ecosystem of partners and suppliers. Each creates a potential weak spot for cyber defenses.

Bitsight for Third-Party Risk Management helps financial institutions mitigate that risk.

With Bitsight, you can continuously monitor third-party security performance and drive efficient risk reduction across your vendor portfolio – from onboarding through the life of the contract.

Over 50% of the Financial Sector is at heightened risk of ransomware attacks.

Ransomware in Financial Services

Over 50% of the Financial Sector is at heightened risk of ransomware attacks.

Download the “Ransomware in the Financial Sector” eBook to see how the ransomware trend is specifically impacting organizations throughout the financial services industry, and how the right technology can combat the unique risks.

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Maintain Compliance Readiness and Meet Regulatory Standards

Financial Services Regulation Logos

Maintain Compliance Readiness and Meet Regulatory Standards

It has never been more important for the financial services sector to prioritize security performance management and meet regulatory standards of care for data privacy and security.

Bitsight can help your firm demonstrate that it has effective and appropriate risk management frameworks in place to monitor and control security performance – across the enterprise and the supply chain.

With the insight that Bitsight brings, you can continuously measure, monitor, and mature your company’s compliance with the Gramm-Leach-Bliley Act, FFIEC, SOC2, NYDFS 500 and global regulations like GDPR and DORA.

Chris Porter
Deputy CISO, Fannie Mae
Fannie Mae
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"Bitsight allows us to have that security conversation with our vendors. We make sure they know that they are a part of our ecosystem and that we will help them along in whatever way we can."

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Quantify Cyber Risk in Financial Terms

Financial Quantification for Enterprise Cyber Risk Product Screenshot

Quantify Cyber Risk in Financial Terms

Because cybersecurity is a boardroom concern, you need to cut through the technical jargon and measure and report cyber risk in language that makes sense to board members.

With Bitsight Financial Quantification for Enterprise Cyber Risk you can quickly and easily assess your company’s potential for financial exposure across multiple cyber events, including ransomware, denial of service, and more.

More on Financial Quantification

3 Steps to Getting Started With Cyber Risk Quantification

3 Steps to Getting Started With Cyber Risk Quantification

3 Steps to Getting Started With Cyber Risk Quantification

There’s no question about it: cybersecurity is top of mind for the financial services industry — a high-profile target for malicious actors. Download our ebook for:

  • Insights into why it’s more important than ever to be able to quantify cyber risk
  • An overview of different cyber risk quantification KPIs and frameworks
  • A step-by-step guide on how to start quantifying cyber risk in business terms
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Financial Services:

Insights

Objective, trusted data and analytics on global, national, and sectoral cybersecurity performance
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