Security and risk consulting firm Edgile has introduced a managed service designed to help financial services organizations assess cyber practices, risks and compliance readiness. The new Technology Diagnostics Managed Service provides global and national banks with risk and compliance assessment and intelligence reports, the company says.
The Technology Diagnostics Managed Service can be set up within a financial institution's existing governance, risk and compliance (GRC) solution and covers:
- Business functions.
- Business processes.
- Support services.
Financial Services & Compliance Benchmarking
The managed service provides financial institutions' audit, risk and security teams with more than 100 enterprise-appropriate diagnostics that leverage Edgile's benchmarking data. That way, these teams can empower C-suite executives with intelligence on risk and control capabilities, practices and configurations across an entire organization, Edgile noted.
In addition, the managed service offers benchmark and compliance reporting capabilities, Edgile indicated. This ensure banks can assess and diagnose their cybersecurity infrastructure and evaluate their organizations' readiness against current industry security practices.
"It is now more important than ever for security and risk executives to understand the depth of their risks and exposure," Edgile Partner David Deckter said in a prepared statement. "This knowledge helps them ensure that their company's information security, risk management and cybersecurity are being properly managed."
Technology Diagnostics Managed Service Benefits
The Technology Diagnostics Managed Service enables financial services organizations to expand the depth and breadth of their risk and compliance intelligence for systems both on-premise and in the cloud, Edgile stated.
This managed service provides insights into potential cyber risks that could compromise sensitive business information and clients' confidential data, Edgile noted, to help financial services organizations identify and resolve compliance gaps.
Also, the managed service "significantly reduces the time it takes to properly assess and diagnose an organization's information and technology landscape," Edgile indicated. It utilizes Edgile's Content Managed Service knowledge base, enabling regulatory change management via industry-specific laws and facilitating compliance readiness reporting.
"Edgile's technology diagnostics managed service provides financial institutions with the deep and broad industry-specific insights to assess their risk, demonstrate compliance and make the investments in security that materially reduce risk," Deckter said in a prepared statement.