Information Technology
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Computer-Security Incident Notification Requirements
In fall 2021, the banking agencies issued a final ruled regarding computer-security incident notifications. See how this new rule impacts your bank.
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Payment Systems & Cybersecurity
In an effort to push more capabilities and flexibility to members and customers, financial institutions have embraced automated payment platforms such as FedLine and SWIFT. These services make it easy to exchange funds between individuals and businesses across the country and across borders. Naturally, with the expanded use of these technologies, the cybersecurity risks that correspond to these technologies increase as well. The risks not only threaten the institutions that use these services, but they threaten the organizations that provide them
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Looking Ahead in 2022
One of CLA’s strategic advantages is our deep industry specialization. As we look to get a leg up on 2022 and absorb the lessons learned from 2020 and 2021, we see numerous opportunities and areas of focus for our financial institution clients. If we’ve learned anything during this time, it’s that we need to look at risk differently in this ever-changing environment.
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Cybersecurity Advisory Prompts Financial Institutions to Analyze Security and Continuity Measures
The Cybersecurity and Infrastructure Security Agency (CISA) recently issued a warning cautioning United States organizations of the heightened cybersecurity threats in the wake of conflicts between Russia and Ukraine. The CISA prompted financial regulators to instruct their financial institutions to reevaluate security and continuity planning. Regulators warn that the current cybersecurity threat landscape may exceed previously acceptable recovery arrangements.
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Key Considerations When Evaluating Your Technology Vendor Contracts
Evaluating technology vendor contracts can be a challenging and time-consuming task, but it’s an important step in helping your financial institution understand risk and incorporate favorable rates and terms.
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Engaging and Managing your MSP
Over the years, our financial institution’s practice has seen numerous instances where financial institutions switch Managed Service Providers (MSPs) out of frustration due to MSP underperformance, out of scope costs, and lack of industry expertise. The process to select the right MSP for your financial institution requires confirmation of the MSP’s industry expertise, an understanding of contract features, and greater vendor oversight of the MSP.
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Roadmap to an Effective Information Security Program
Learn how a well-documented roadmap and policy can help secure your financial institution’s information assets.
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Cybersecurity and Your Board
As we prepare for National Cybersecurity Awareness Month, my colleague Sundeep Bablani shares his insights on how to management and Boards can manage this risk.
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Gone are the Days of Handshake Deals
Proper planning and negotiation can be significant contributors to your institution’s ability to respond to market conditions, drive growth, and improve the balance sheet. Position your institution to obtain a comprehensive contract, with acceptable terms and conditions, at a fair price for the short and long term.
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PCI Compliance for Financial Institutions
Are you performing your PCI compliance scans? Are you storing credit card numbers in your core system, processing credit card payments, or have agreements with major card brands such as VISA or MasterCard? Check out this blog to ensure you are passing the PCI Data Security Standards.