BROOKFIELD, Wis.—Fiserv said it has entered into an alliance with cybersecurity firm BlueVoyant that the companies say will deliver a comprehensive managed security platform that specifically addresses the unique needs of financial institutions – from threat detection, response and remediation to regulatory compliance and reporting.
“Using resources and data that go well beyond what is available to most banks and credit unions today, Fiserv and BlueVoyant provide detection, real-time response and automated remediation of suspicious activity targeting internal systems using an integrated combination of network and endpoint monitoring, extensive threat intelligence and behavioral analytics,” Fiserv stated.
The company added, “These are among a range of intelligent security capabilities offered by Fiserv to enable financial institutions to understand emerging threats and establish multilayered defenses to minimize risk, prevent fraud, help ensure compliance, and enable consumers and businesses to transact with confidence. These capabilities embody a clear and consistent approach that emphasizes fact-based security decisions and measurable outcomes, facilitating intelligent financial experiences.”
‘Leading Edge’ Solution
Fiserv said the new solution complements other “leading edge” cybersecurity solutions offered by the company, including Sentry Cyber Security and SecureNow, which are designed to mitigate risks within the financial institution as well as risks associated with customer-facing services such as digital banking platforms.
The companies when on to say that disparate cybersecurity components, an inability to customize solutions to their needs, and a shortage of qualified cybersecurity talent can make it difficult for financial institutions to defend internal systems against attacks.
Fiserv said its partnership with BlueVoyant can help overcome these challenges with a cybersecurity platform that orchestrates an organization’s internal cybersecurity modules and provides a clear and customizable portal with actionable, plain-English alerts, along with skilled cybersecurity experts who work to remediate threats to the institution. Financial institutions receive consolidated reports to greatly simplify regulatory compliance, and professional threat remediation that allows IT staff to focus attention on building business value, Fiserv stated.
Time to End ‘Hacker Advantage’
“Adversaries are targeting banks and credit unions of all sizes with sophisticated attacks,” said Byron Vielehr, chief administrative officer, Fiserv. “By working with partners like Fiserv and BlueVoyant, financial institutions can access capabilities and insights to make their cybersecurity strategies exponentially more effective than if they went it alone.”
“It’s time to end the hacker advantage,” said Jim Rosenthal, CEO, BlueVoyant. “The solution we’ve developed jointly with Fiserv closes the information and organization gap and offers financial institutions the advanced defenses previously only available to the largest banks and government agencies. These defenses are essential to protect financial institutions, our industry and our economy.”