BankTech Ventures Invests in Governance Automation Platform Finosec
Summary
BankTech Ventures is proud to announce our investment of $2 million in Finosec!After recognizing the challenges many of our limited partners had managing and overseeing information security and cybersecurity and their need for better governance, we sourced Finosec to be part of our ever-growing ecosystem of top-tier, bank-ready solutions.Curious on what they can do for your bank? Streamline and automate their cyber-governance and user access management processes, reducing manual effort and increasing operational efficiency. Align with regulatory requirements and industry best practices in order to demonstrate compliance, meet examiner expectations, and effectively respond to audits and examinations.How to Engage + Who Should Engage Is using manual processes (ie spreadsheets) for cyber-governance, user access reviews, or overall IT exam readiness and are seeking automation and efficiency Wants to be better prepared for exams and audits through alignment with industry best practices Is looking to increase the maturity of your banks cybersecurity program or supplement lack of information security staff Finosec works with your bank to establish a 12-month plan, prioritizing upcoming or overdue areas in your banks Exam Readiness Dashboard. This typically includes the Core Processor, Active Directory, Fedline, Wire Transfer, and FDICIA systems. This involves ongoing collaboration with the Customer Success Manager to enhance security measures, address gaps, and document the improvement in the banks cybersecurity posture.Finosec enables banks to overcome time and resource constraints around information/cybersecurity staffing as it relates to regulatory compliance and expectations.