Fast-moving cyber threats, IT failovers that fail, security breaches, accelerated market factors, natural disasters, liquidity crisis…the amount and intensity of threats is accelerating. At the same time, regulators are enhancing their requirements for operational resilience, business continuity and crisis management for the financial sector.
The shear speed and complexity of managing attacks, market events, IT failures, weather threats, and counterparty impacts requires a proven, best-in-class, unified, critical event management solution.
In most financial services firms each operational risk group – cyber response, IT infrastructure, business continuity, service operations and security – uses different incident management parameters. Incident response is manual, and reporting is fragmented. Precious minutes are spent trying to contact and update employees and clients. Reliance on emails, unsecure messaging, and weak communications protocols are potential points of failure.
Financial services firms who can standardize and automate threat detection, crisis management, incident response and emergency communications across their siloed operational risk groups and their lines of business will have the agility, reliability and efficiencies to manage a best-in-class resiliency program.