EVERBRIDGE INDUSTRY FOCUS
When time is money, seconds matter.
Fast-moving cyber threats, IT failovers that fail, security breaches, accelerated market factors, natural disasters, liquidity crisis…the amount and intensity of threats is accelerating. At the same time, regulators are enhancing their requirements for operational resilience, business continuity and crisis management for the financial sector.
The shear speed and complexity of managing attacks, market events, IT failures, weather threats, and counterparty impacts requires a proven, best-in-class, unified, critical event management solution.
Equip Your Siloed Operational Risk Groups with a Common Operating Framework and Response Picture
In most financial services firms each operational risk group – cyber response, IT infrastructure, business continuity, service operations and security – uses different incident management parameters. Incident response is manual, and reporting is fragmented. Precious minutes are spent trying to contact and update employees and clients. Reliance on emails, unsecure messaging, and weak communications protocols are potential points of failure.
Financial services firms who can standardize and automate threat detection, crisis management, incident response and emergency communications across their siloed operational risk groups and their lines of business will have the agility, reliability and efficiencies to manage a best-in-class resiliency program.
Meet the Evolving FFIEC Business Continuity Management Guidelines
The FFIEC (Federal Financial Institutions Examination Council) has enhanced their mandates for operational resilience, business continuity and crisis management for the financial sector. Rising expectations from regulators demonstrate the need for a single, unified critical event management platform to be used across operational risk areas to gain efficiencies of process, knowledge, and impact assessment. Regulators are focused on the impacts of operational outages and the affect they can have across the industry. Regulators are asking for response benchmarks, detailed tracking, audit logs and evidence of executive oversights.
Everbridge helps financial services firms meet FFIEC regulatory guidelines for business continuity and standardize and automate their emergency response across operational risk groups to get everyone on the same page when responding to critical events.
The Everbridge Critical Event Management platform is uniquely able to correlate, respond to, and track events that emerge from either physical or digital incidents. This allows security and business continuity teams to take a proactive approach to mitigating risk. The platform’s orchestration capabilities enable rules-assisted actioning across business continuity teams, helping to unify a rapid response to critical events.
Composite views of high severity operational problems across cyber response, information security, business continuity, infrastructure, security/facilities and weather threats allow you to determine the impacts on your business, as well as to the underlying investments and counterparties.
Using a common critical event management platform across the business, you can capture workflow efficiencies, establish company-wide response metrics, and meet regulatory operational guidelines and reporting obligations.
Goldman Sachs Selects Everbridge Critical Event Management Platform
Keep Your People Safe while Re-opening Operations
Goldman Sachs selects Everbridge to enhance its ability to monitor, respond and to report on operational risks, business continuity incidents and employee safety threats. The SaaS platform will be deployed for their resiliency, crisis management and business continuity teams around the globe.
Financial Services Use Cases
Organizations constantly on defense while hackers only need to get an attack right once. Unfortunately, the odds are against you for ransomware, malware, DDoS attacks, and other phishing attacks. The biggest challenge faced by today’s organizations is the lack of effective internal and external communication before, during and after an attack.
Coronavirus Threats and Your Portfolio
The 2019 Novel Coronavirus (COVID-19) is affecting the forecasts of gross domestic products (GDPs), the risk of sovereign bonds, and the companies that rely on suppliers in impacted countries. Goldman Sachs has slashed GDP forecasts for many countries due to Coronavirus, some up to 80% with ramifications regionally and globally.
Severe weather, crime, protests, or even a nearby construction project can cause your branches and ATMs to be impacted. By having better foresight of potential issues, and better information during incidents, you can minimize the impacts of damage and theft, revenue loss from customer disruptions, and risks to your employees.
With multiple payment networks and gateway applications to manage, the shift toward real-time and smart payments has pushed aging systems to their limits. Minimize costly IT downtime and streamline your end-to-end enterprise incident response actions for faster resolution.
Online Banking Downtime
Software, hardware, and IT failures, as well as cyber-attacks, impact online trading applications and customer-facing banking sites with regularity. Save valuable time by automating communications. Alert the right people to begin resolving the issue as fast as possible, resulting in preserved revenue, reduced costs, and improved customer satisfaction.
Natural and man-made threats can put your most valuable assets – your employees – at risk. You need to able to assess events, locate the people that need help and those that can help, and act quickly to get and keep your people out of harm’s way – and account for each employee’s safety.
Customer Video: Finastra
Chris Quinlan, Director of Service Operations for Global trade finance software provider, Finastra, shares their process for mobilizing technical resources during IT incidents. By leveraging Everbridge IT Alerting, Finastra can mobilize teams around the world in minutes to respond to any critical incident.
Customer Video: Aon
Pale Mejia, Crisis Management Coordinator and Emergency Communications Manager for Aon, a leading global professional services firm, explains how the team leverages technology, like Everbridge, for employee safety and operational resilience. Aon provides a broad range of risk, reinsurance, retirement and health solutions.
Case Study: CLS Group Reducing Incident Impact
CLS operates the largest multi-currency cash settlement system in the foreign exchange market. The organization operates globally and offers settlement services for 18 currencies settling $5 trillion of payment instructions daily.