Industry Overview
Key metrics and compliance landscape.
Key Challenges
Critical security and compliance threats facing your industry.
GLBA Safeguards Rule Compliance
Gramm-Leach-Bliley Act requires all financial institutions to implement a written information security program. FTC enforces with $500K+ fines. State banking regulators issue Matters Requiring Attention (MRAs) for non-compliance. Community bank in Iowa received FTC fine of $450K for failing to implement GLBA Safeguards Rule.
FFIEC Cybersecurity Assessment Readiness
Federal Financial Institutions Examination Council (FFIEC) Cybersecurity Assessment Tool is used by bank examiners to assess cybersecurity maturity. 72% of community banks scored baseline or evolving (lowest two tiers) in 2024 exam cycle. Common findings include inadequate vendor risk management, missing incident response testing, and weak authentication.
SOC 2 Type II for Enterprise Sales
Fintech startups lose $500K-$2M ARR in enterprise deals without SOC 2 Type II certification. 89% of Fortune 500 companies require SOC 2 before signing contracts with financial technology vendors. Enterprise security questionnaires, procurement requirements, and banking partner API integrations all blocked without certification.
Vendor Risk Management for Core Banking
Community banks and credit unions outsource critical functions (core banking, online banking, ATM networks, payment processing) to third-party vendors but GLBA and FFIEC require ongoing vendor oversight. One vendor breach exposes customer data and triggers regulatory findings. Banks assume large vendors are automatically secure but fail to request SOC 2 reports.
Regulatory Landscape
Mandatory and recommended frameworks with enforcement context.
Audit: Annual risk assessment required; FFIEC exam cycle varies by institution size
Audit: Type II requires 6-12 months operating effectiveness; annual recertification
Audit: Annual assessment; quarterly vulnerability scans
Recommended Solutions
Services mapped to your industry's specific challenges.
Proven Outcomes
Real results from organizations in your industry.
Community bank (150 employees, $750M assets) achieved GLBA compliance and passed FFIEC exam with zero findings in 4 months. Investment: $29,500. Avoided $500K+ FTC fine. ROI: 17:1.
Fintech startup (Series A, 35 employees) achieved SOC 2 Type II in 11 months, won 3 enterprise deals worth $2M ARR. Investment: $24,000. ROI: 83:1.
Credit union blocked 47 account takeover attempts and prevented $280K in fraud losses after implementing MFA and fraud monitoring. Investment: $21,500. ROI: 13:1.