Member Driven Technologies (MDT), a CUSO that hosts the Episys® core platform from Symitar® to provide a private cloud alternative for core processing and IT needs, today announced that it has joined Sheltered Harbor to enhance resiliency capabilities for financial institutions in the event of a major cyber incident.
Sheltered Harbor, a subsidiary of the Financial Services Information Sharing and Analysis Center, is a not-for-profit industry-led initiative launched in 2015 to enhance the industry’s cyber-resiliency and better protect customer accounts. It works to ensure that participating financial institutions can provide customers and members access to critical account assets in the case of a destructive cyberattack or other major operational outage.
Sheltered Harbor provides an important additional layer of protection, enhancing both accountholder and financial sector resiliency. The standard offers a way for the entire financial services industry to come together to protect customers’ and members’ assets.
“Given today’s cyber threat landscape, we are committed to working with organizations like Sheltered Harbor to give financial institutions the best possible tools to protect themselves, their customers and their members,” Larry Nichols, CEO, MDT explained. “MDT is creating procedures using the Sheltered Harbor standard to provide data vaulting and data restoration services for financial institutions. Participating with Sheltered Harbor allows us to contribute to developing the most modern and robust standards and procedures to keep account data in safe hands.”