General

Case Study: Cyber Exposure Management for Supplier and Partner Monitoring in the Banking Industry

ResilientX

Industry: Banking

Background:


A leading global bank recognized the criticality of securing their extended ecosystem, including suppliers, partners, and third-party vendors. With a steadfast commitment to maintaining the highest levels of security and protecting sensitive financial information, the bank sought a comprehensive solution to monitor and evaluate the cyber exposure of their external network.

The Solution:
After rigorous evaluation, the bank implemented Cyber Exposure Management (CEM) as their chosen solution to monitor the cyber security posture of their suppliers and partners. CEM offered a suite of features tailored to the specific needs of supplier and partner monitoring, enabling the bank to proactively mitigate risks and safeguard customer data across their ecosystem.

Why Cyber Exposure Management was chosen:
"We needed a comprehensive solution that could provide us with complete visibility into the cyber risks within our extended ecosystem. CEM's advanced capabilities offered us the comprehensive visibility we required." - Chief Information Security Officer, Global Bank

  1. Comprehensive Visibility: The bank recognized the need for a holistic assessment of the cyber exposure of their suppliers and partners. CEM's automated asset discovery, intelligent reconnaissance, and vulnerability detection provided the bank with complete visibility into potential risks and vulnerabilities within their extended ecosystem.
  2. Risk Mitigation: "CEM's comprehensive analysis features allowed us to proactively identify vulnerabilities and mitigate risks before they could be exploited by cyber attackers. It has become an essential tool in our risk management strategy." - Head of Cyber Security, Global Bank

CEM's features, such as identifying exposed IP's & hosts, potential vulnerabilities, credential leaks, and compliance adherence, empowered the bank to take immediate action to mitigate risks and protect sensitive financial information.

  1. Compliance Adherence: As a highly regulated industry, the bank recognized the importance of maintaining regulatory compliance. "CEM's compliance and audit functionality enabled us to streamline our compliance efforts and ensure adherence to industry regulations and standards." - Compliance Manager, Global Bank

Implementation Process:
Implementing CEM for supplier and partner monitoring within the banking industry involved the following steps:

  1. Solution Evaluation: The bank's cybersecurity team conducted a thorough evaluation of cyber exposure management solutions available in the market. CEM was selected based on its comprehensive capabilities and proven track record in the industry.
  2. Integration and Onboarding: "CEM's seamless integration with our existing security infrastructure made the onboarding process efficient and hassle-free." - IT Manager, Global Bank

The implementation team worked closely with the bank to configure asset discovery parameters, vulnerability scanning schedules, and compliance testing protocols specific to suppliers and partners.

  1. Supplier and Partner Collaboration: The bank actively engaged with their suppliers and partners to foster a collaborative approach to cyber security. "Through our partnership with CEM, we established a shared responsibility for data security and worked together to enforce robust security measures." - Vendor Management Specialist, Global Bank

Ongoing Monitoring and Risk Mitigation:
With CEM in place, the bank continuously monitored the cyber security posture of their suppliers and partners. "CEM's risk prioritization feature allowed us to focus our efforts on addressing critical risks promptly, enhancing our overall risk management capabilities." - Cyber Threat Analyst, Global Bank

Results and Benefits:
Implementing Cyber Exposure Management for supplier and partner monitoring provided significant results and benefits for the bank:

  1. Strengthened Supply Chain Security: By monitoring and addressing cyber risks within their extended ecosystem, the bank enhanced the overall security of their supply chain. "CEM empowered us to enforce robust security measures and protect sensitive financial information, reinforcing our commitment to data privacy." - Chief Technology Officer, Global Bank
  2. Proactive Risk Management: "With CEM's comprehensive analysis features, we could proactively identify and mitigate vulnerabilities, reducing the risk of cyber incidents and maintaining the confidentiality and integrity of customer
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