Optimized Security for a Global Bank using FFIC Assessment & Cybersecurity Strategy

Challenge.

The client encountered several significant challenges impacting its operations and strategic goals: 

• FFIC Audit Readiness: The bank required a comprehensive FFIC assessment to identify areas for improvement before the audit.
  
• Cloud Migration Readiness: The bank planned to migrate to O365 and needed a cloud readiness assessment.
  
• Cybersecurity Strategy Alignment: The institution lacked a comprehensive cybersecurity strategy and processes for vulnerability, risk and compliance management
  
• Future Security Roadmap: The institution sought a clear roadmap for future cybersecurity investments and initiatives to proactively address emerging threats.

Solution.

Coforge implemented a multi-faceted solution to address the client’s needs: 

• FFIC Assessment: Conducted a comprehensive FFIC assessment, leveraging our Governance, Risk, and Compliance (GRC) framework to identify potential gaps and areas for improvement.
  
• Cyber Maturity Assessment: Performed a detailed cyber maturity assessment to evaluate the institution's current security posture and identify areas for enhancement.
  
• Security Policies and Processes: Developed security policies and processes for vulnerability management, risk management, and compliance management, aligning with industry standards and regulatory requirements using our GRC services.
  
• Cloud Readiness Assessment: Conducted a thorough cloud readiness assessment for the O365 migration, ensuring a smooth and secure transition to the cloud environment.
  
• Future Security Roadmap: Created a detailed roadmap outlining future cybersecurity initiatives, prioritizing investments in security technologies and aligning them with the institution's strategic goals.

The Impact.