DefenseStorm experiences 100 percent customer renewal rate for second consecutive year
Each of DefenseStorm’s customers renews contracts for additional year, passes cybersecurity exams
ATLANTA, GA (June 6, 2017) — DefenseStorm, a solution that fuses together technology and people to provide co-managed cybersecurity operations for financial institutions, announced that for the second consecutive year, all of its customers renewed contracts after successfully passing their cybersecurity exam with the help of DefenseStorm’s cybersecurity management platform.
IBM recently revealed that more than 200 million financial services records were breached in 2016, accounting for a 937 percent rise since 2015. As the volume of attacks increases and cybercriminals become more sophisticated with their tactics, a growing number of financial institutions will be targeted and faced with the damaging side-effects of an attack. However, financial institutions that conduct real-time testing for network vulnerabilities can take preventative measures to eliminate those vulnerabilities and better defend their organization against hackers.
DefenseStorm has helped numerous financial institutions accomplish this and as a result, the company has seen a 100 percent customer retention rate, demonstrating how its technology has successfully enabled institutions to enhance their level of security.
Alan Greenfield, chief information officer and executive vice president at Bank of Tennessee, values the increased visibility DefenseStorm provides for the bank. “We needed a solution that improved monitoring, detection, and provided a second set of eyes to spot the anomaly,” said Greenfield. “DefenseStorm provided the tools and services that enhance the bank’s capabilities to monitor and respond to cybersecurity threats.”
Financial institutions of all sizes are constantly challenged to mitigate the risk of cyber attacks, as well as the reputational and financial consequences that accompany an attack. By leveraging technology and a team of security experts, DefenseStorm serves as a control tower that monitors financial institutions’ networks to detect intrusions, investigate threats, take action to resolve security incidents and report on cybersecurity. With DefenseStorm, financial institutions can answer the most important cybersecurity questions: Are we secure? Are we compliant? How do we know?
“We believe that the right combination of technology and people can help financial institutions, regardless of size, location or resources, be more secure,” said Sean Feeney, CEO of DefenseStorm. “DefenseStorm was developed with the unique needs of financial institutions in mind, and our mission is to keep all banks and credit unions safe from cyber threats. We want our customers to have an airtight network and to be assured that their own customers are adequately protected.”
DefenseStorm provides cybersecurity and cybercompliance solutions specifically built for banking. The company delivers the only co-managed, cloud-based and compliance-automated solution of its kind – as both a technology system and as a service supported by experts in financial institution security and compliance. DefenseStorm’s security data platform watches everything on a financial institution’s network and matches it to defined policies for complete and proactive cyber exposure readiness, keeping security teams smart and executives accountable to their customers, communities, regulators and Boards. Built from the ground up in the cloud, DefenseStorm unifies detection, investigation, reporting and compliance into a single place to manage cybersecurity data. The system aggregates event data across all cybersecurity tools and links policies to real-time alerts so that financial institutions can prove to regulators they are both secure and compliant with evolving FFIEC cybersecurity requirements. For more information please visit http://www.DefenseStorm.com.