News from the Wire

Finosec adds features such as ability to track all system access

Tuesday, July 30, 2024 — 12:07:21 (EDT)

Alpharetta, GA., July 29, 2024 – Finosec, whose mission is to transform the management of information security and cybersecurity in banking, announced today the addition of key features to its User Access Reporting (UAR) Solution. These features give community financial institutions greater visibility into user access across every system, ensuring that privileged access, new employees, job and access changes, and terminations are managed efficiently, confidently, and in compliance with regulatory expectations.

For financial institutions, ensuring that every user—from employees to third-party vendors—has the correct access to every system is crucial, especially concerning FFIEC regulations. The UAR holistic framework enhances governance and oversight for financial institutions.

Key Benefits of Finosec’s User Access Reporting Solution:

All System Access: Capture every system and track access for each user (employee or vendor). Manager Approvals: Assist managers with easy reporting for their employees and the access their employees have.

User Access Frequency Assessment: Assess the risk and determine the frequency of user access reviews by system.

User Access Tracking Dashboard: Executive reporting to allow for easy access to the status of user access, including an overview of the last completed review, what's overdue, and what's upcoming.

These enhancements allow financial institutions to perform reviews for every system, streamline employee onboarding and termination with manager reviews and system owner notifications. Financial institutions can expand access governance for all systems, not just the 250+ systems that are in the Finosec platform. Comprehensive visibility into user access systems reduces the risk associated with employees having unnecessary access to systems and functions, helping meet regulatory expectations.

"Validating access and permissions for systems is vital for risk management and compliance, but the process for managing access is complicated and labor-intensive," said Zach Duke, CEO of Finosec. "By leveraging these enhancements, our customers gain visibility into access for every user to every system. Our User Access Reporting solution simplifies governance by ensuring financial institutions manage access, including privileged access, new employee onboarding, job and access changes, and terminations efficiently and confidently."

About Finosec

Finosec’s mission is to change the way information security and cybersecurity is managed in banking. Through the use of the Finosec platform, customers automate the labor-intensive tasks that are required to keep banking systems secure and achieve governance goals. This includes systems access rights management and validation, third party risk management, information security program governance, and overall cyber hygiene status. Visit www.finosec.com for more information and follow us on LinkedIn for timely and relevant insights.

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Source: Company press release.