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Additional Info

Company (that provides the nominated product / solution / service)DefenseStorm
Company size (employees)100 to 499
Type of solutionSoftware

In 3 bullets, summarize why this product or service is different from the competition and deserves recognition:

• Only provider that combines cybersecurity and cybercompliance to deliver solutions specifically built for banking
• First co-managed, cloud-based and compliance-automated solution of its kind, that operates both as a technology system and as a service
• community and regional banks and credit unions will have a more coordinated and integrated approach to handling both cybersecurity and cyberfraud

Brief Overview

DefenseStorm FI CyberFraud is unlike any other fraud monitoring product on the market. It adds an additional layer of security, focusing on monitoring and protecting the financial institution’s most valuable data and financial assets. Until now, no solution has provided specific monitoring capabilities related to data and application protection, coupled with the ability to correlate events across data, applications and server/network/workstation events.

Rather than looking for fraud based on suspicious activity and moving money, DefenseStorm FI CyberFraud focuses on non-transactional fraud that comes with ancillary activities like online bill pay, e-banking and phone banking. The goal is to correlate data across all systems of a financial institution to search for potential internal and external fraud.

Also unique is DefenseStorm’s co-managed approach that enables financial institutions to perform as much or as little fraud monitoring as they choose. DefenseStorm CyberFraud experts actively monitor fraud, perform initial fraud triage and provide correlating fraud analytics to the financial institution. Bank or credit union staff have the same dashboards and configurations that DefenseStorm has, which makes sharing fraud information and co-management easy and efficient.

Lastly, DefenseStorm is the only managed-services provider focusing solely on community-sized banks and credits unions, and is currently the only one offering both cybersecurity and cyberfraud services.