Fiserv, a provider of financial services technology solutions, has partnered with cybersecurity company BlueVoyant.
The alliance will lead to the creation of a new cybersecurity platform, which specifically addresses the unique needs of financial institutions.
Disparate cybersecurity components, an inability to customise solutions to their needs, and a shortage of qualified cybersecurity talent are creating a difficult environment for financial institutions according to Fiserv.
The pair aim to help overcome these challenges by providing a cybersecurity platform that orchestrates an organisation’s internal cybersecurity modules and provides a customizable portal with skilled cybersecurity experts who work to remediate threats to the institution.
Through the platform, financial institutions receive consolidated reports to simplify regulatory compliance, and professional threat remediation that allows IT staff to focus attention on building business value.
“Fiserv and BlueVoyant are delivering a leading-edge cybersecurity solution that is both broader and deeper in its protection than any other solution we evaluated,” said Elizabeth Macias, Chief Information Officer, Ponce Bank, a $950m asset bank that recently implemented the solution. “Cyberattacks are a very real threat to financial institutions today, and we are pleased to have implemented this robust tool to protect our customers’ money and their data.”
Based in New York, BlueVoyant is led by cybersecurity experts formerly with the National Security Agency, FBI, and British and Israeli intelligence services. It provides advanced threat intelligence, managed security and cyber forensics and incident response.
Jim Rosenthal, BlueVoyant CEO, added: “The solution we’ve developed jointly with Fiserv closes the information and organisation gap and offers financial institutions the advanced defenses previously only available to the largest banks and government agencies. These defenses are essential to protect financial institutions, our industry and our economy.”
Fiserv offers a number of intelligent security capabilities to enable financial institutions to understand emerging threats and establish multilayered defenses to minimize risk, prevent fraud and help ensure compliance.
Earlier this month, Fiserv launched a new solution to help streamline compliance with the Financial Accounting Standards Board’s (FASB) pending Current Expected Credit Loss (CECL) standard.
The company also recently partner with fraud analytics firm Rippleshot to offer Card Risk Office Fraud Warning, and with Mastercard to offer a decision and fraud detection service.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
