Security Solutions For Finance
Over the past few years, the financial services industry has been the focus of unprecedented scrutiny by both domestic and international regulatory bodies as a number of new government regulations and industry mandates have been introduced. These regulations and mandates aim to ensure that companies in Financial Services are either providing increased protection to customer information or are decreasing their operational and business risk through better internal controls and risk management. As a result, there has been a significant increase in demand for products that increase customer privacy, data reliability, integrity, and security.
The Gramm-Leach-Bliley Act (GLBA), which is also known as the Financial Services Moderniza¬tion Act of 1999, brought security issues in Financial Services to the forefront. It requires financial services institutions to develop precautions to ensure the security and confidentiality of customer records and information, to protect against any anticipated threats or hazards to the security or integrity of such records, and to protect against unauthorized access to, or use of, such records or information which could result in substantial harm or inconvenience to any customer.
The Federal Financial Institutions Examination Council (FFIEC) has created an information security handbook called “Guidelines Establishing Standards to Safeguard Customer Information” to assess compliance with the GLBA. The guidelines also afford the FFIEC agencies enforcement options if financial institutions do not establish and maintain adequate information security. Financial institu-tions use FFIEC guidelines as a framework to comply with the information security requirements of GLBA. In addition, various states have introduced their own security-related regulations that impact the financial services industry. SB-1386, the California Security Breach Information Act, was signed into state law in July 2003 to address consumer information privacy and security issues. All financial ser-vices companies doing business in the state of California have to comply with SB-1386. In addition, many states and countries have developed their own regulations, such as the EU Data Protection Directive, which requires that companies doing business in the EU countries take appropriate secu¬rity measures to guard against the accidental loss of, or damage to, personal data.
In the financial services industry, security solutions require more than just technology. Good security requires an understanding of the firm’s business processes, business requirements, appetite for risk, and risk-management alternatives. This broad perspective is at the heart of TBG Security’s solutions. TBG Security takes a holistic approach to addressing security challenges – rather than a piecemeal product-by-product approach. This broader view enables more robust and more resilient security systems for the financial services industry. And that’s what really matters. The bottom line for any enterprise is to strengthen security to build a trusted enterprise. TBG Security’s holistic approach helps companies reach this goal.
TBG Security provides end-to-end information security solutions. We have a proven track record of helping our customers gain efficiencies through technology support and implementation. Our experienced network of security experts has subject- matter expertise in a broad array of disciplines.
Through our industry expertise and track record with GLBA, state and federal regulations and other compliance requirements for over 15 years, TBG Security acts as a trusted advisor to its clients around the world. We are on hand to guide our clients through their compliance program, to provide often vital advocacy to the compliance organizations and , and to supply any necessary remediation services. Our Industry expertise is reflected in these key benefits:
- The Shortest Path To Compliance
Unlike companies that simply know network security, we understand the requirements for a broad range of compliance regulations. We’ve seen the issues before and have implemented solutions across a broad spectrum of industries and customer profiles. Few other vendor can apply this unique knowledge and expertise to achieve faster, higher integrity project completion.
- Flexible Solutions
We pride ourselves on our customer driven approach to solving your organizations security challenges. TBG does not partner with any security vendors leaving us with a unique ability in the industry to present truly objective solutions. Our managed solutions are presented as a cost effective method to reduce overall operational costs, and are provided only as a small piece of the security puzzle. Technology is only part of a comprehensive security program. TBG understands, and everyday helps to educate its customers on the role that people and process play in solving the security puzzle.
- Commitment To Excellence
Although many vendors offer services to companies seeking compliance and auditing solutions, few providers match TBG’s expertise, intelligence-gathering capabilities, commitment to open standards, or role as trusted advisor. TBG leverages regulatory knowledge, training, and experience; best-of-breed solutions; a global network of proven technology; and its history of stability and trust to deliver solutions that are not only effective, but also make the best use of existing in-house personnel, technology, and processes.
For more information about how TBG Security can assist you in securing your financial services, contact us here.