CIO Bulletin

Innovative cybersecurity solutions helping businesses tackle cyber threats and compliance demands effectively: DefenseStorm

In the digital world we live in robust cybersecurity is pertinent to protect businesses from breach and attacks. Today, cyber-attacks are no longer stopped by antivirus software or firewalls. The risk of cyber-attacks is constantly increasing and for companies and institutions it is no longer a question of “if” it will happen but rather “when”. Globally, there are various companies providing excellent cybersecurity services, DefenseStorm stands out among them .DefenseStorm is a uniquely specialized cybersecurity, cyber fraud and cyber compliance company built for banking. It helps financial institutions achieve real time cyber safety and soundness through the only co-managed, cloud-based and compliance-automated solution of its kind – delivered as both a technology system and a service supported by experts in financial institution security and compliance. DefenseStorm unify detection, investigation, resolution, reporting and compliance into a single system of record to deliver complete, transparent and real-time cyber exposure readiness. It helps security teams stay smart and executives stay informed, so they can easily prove they are secure as well as compliant with their own policies and with evolving regulatory requirements and industry standards.

DefenseStorm’s leadership team, Board of Directors and employees bring a unique mix of experience and expertise to deliver results for its clients. DefenseStorm ensures cyber risk readiness with a comprehensive system, including cyber security, compliance, and fraud. The only system specifically built for banking, it accounts for all the daunting challenges, regulations, and technology requirements you face as a financial institution. DefenseStorm intelligent data engine, GRID, delivers real-time access, analysis, and action on all your critical threat data. Its Threat Ready Active Compliance (TRAC) team enables co-managed support 24x7x365, providing the support and expertise you need. Together, DefenseStorm will help you get ahead of the storm of threats.

How DefenseStorm Solve for Security

With the constantly evolving storm of threats facing the financial services industry, organizations need an efficient way to connect monitoring, detection, triage, response, resolution, audit-trail and reporting. And with a global shortage of qualified cyber staff and a highly competitive marketplace for well-credentialed experts, it’s difficult to hire the people needed to stay ahead of these threats. DefenseStorm CyberSecurity leverages human interaction with machine learning for optimal performance. Security data is consolidated from any and all sources without volume limits, real-time visibility into the entire security operation is achieved, false positives are eliminated and events are prioritized to enable you to zero-in on the threats that matter most. A co-managed approach multiplies your cyber team and talent instantly. DefenseStorm ‘s Threat Ready Active Compliance (TRAC) team of banking and cybersecurity experts helps monitor and manage your security posture 24x7x365.

With DefenseStorm CyberSecurity, your network is protected using a range of proprietary technologies including:

Threatmatch: To leverage threat source feeds without volume limits and identify known threats in event signals across your network.

Patternscout: To catch unknown threats by flagging anomalies not categorized in known threat patterns

Trigger library: To catalog threat vulnerabilities associated with assets and services across your network, including your own policies and operational controls

Alert derivatives: To recognize alert patterns from ThreatMatch, PatternScout and the Trigger Library in order to identify previously unseen threats, eliminate false positives and prioritize threats to elevate

How DefenseStorm Solve for Fraud

Employees and account holders alike are doing more work virtually than ever before. Financial institutions need to balance ease of use and convenience against security and privacy in a way that protects themselves, their employees and their account holders with confidence. And they must stay ahead of evolving fraud threats without exceeding budget or staffing constraints.DefenseStorm CyberFraud integrates your Information Security and BSA/AML Fraud departments in a single platform to defend against a myriad of threats, including fraudulent account opening and loan applications, account take-overs, payment fraud, money laundering and internal fraud.With real-time alerts, financial institutions can block suspicious activity, execute step-up authentication and route anomalies to analysts for further investigation.By correlating cybersecurity data on the network with online banking events, dark web intelligence and a consortium of threat sources, DefenseStorm CyberFraud provides a unique approach to fraud defense by integrating it within your security and risk processes.

Always Protected

With DefenseStorm CyberFraud, your employees and account holders are protected from:

Fraudster access from high-risk countries and domestic locations;
Unusual customer or employee activity and money movement;
Malware harvesting credentials and personal information; and
Payments and deposits to/from known money laundering accounts.

DefenseStorm provides the only co-managed, cloud-based and compliance-automated solution designed specifically for the unique cyber threat and compliance demands facing the financial services industry. Conceived and led by bankers and fintech experts, DefenseStorm unifies cyber threat detection, investigation and reporting with compliance into a common system of record. Event data is aggregated across all cybersecurity tools and links policies to real-time alerts so you can prove to regulators you are doing the right things, in the right way, at the right time, while also adhering to your own internal policies. DefenseStorm’s latest innovation, DefenseStorm CyberFraud adds an additional layer of protection against fraudulent account opening and loan applications, account take-overs, payment fraud, money laundering and internal fraud.

Proactively manage your total cyber exposure with a system built for banking. Easily oversee and understand your entire security operation with real-time visibility and machine learning-assisted alert detection. Specialized innovations such as ThreatMatch, PatternScout, Trigger Library and Alert Derivatives work in concert with DefenseStorm’s Active Compliance engine to deliver the highest levels of security and compliance. Multiply your cyber team and expertise almost instantly through a Security Operations Center (SOC) in the cloud, without the capital expenditure and staff-up. In dynamic co-management with your resources, it’s TRAC (Threat Ready Active Compliance) team of cybersecurity and cybercompliance experts monitors and manages your security and compliance posture 24x7x365 to identify and resolve millions of potential cyber threats daily. Connect controls to actual policy enforcement with its real-time Active Compliance engine to drive perpetual, full cycle compliance. Evidence collection, proof of compliance and real-time executive and board visibility combine with the ease of Google search-like query capabilities and reporting. Security and regulatory frameworks are built-in, as are your policies and any other internal controls you desire.

Meet the Leader behind the success of DefenseStorm

Steve Soukup has served as Chief Executive Officer since 2020 and in that role is responsible for leading all aspects of the company’s business. He is passionate about building a community of trust among our teams and with our customers while also enabling our customers to do the same with their accountholders. Steve joined DefenseStorm as Chief Revenue Officer in May 2017 with a charge to drive growth for the business while leveraging his extensive experience serving the banking vertical. He was promoted to President in October 2019 and then to CEO in April of 2020. Under his leadership, DefenseStorm has set the standard for cyber safety and soundness within the banking vertical.

Steve has built world class customer-focused sales teams that have delivered double-digit year-over-year profitable revenue growth in fast paced and competitive environments. His background includes shaping a 100+ sales organization at e-banking leader Q2 to deliver 30% year-over-year revenue growth, as well as leadership positions at Intuit, S1 Corporation and KPN. Steve also has direct banking experience through management positions at Key Bank, BankBoston and State Street Bank. Steve is a graduate of Boston College and earned a Master of Business Administration degree from Boston University. A native of Cleveland, Ohio, Steve and his family have called the Atlanta area home for over 10 years.