“With approximately 20 million cyber events occurring per day per financial institution, the volume and sophistication of today’s cyber threats are definitely challenging credit unions to maintain and prove ‘Cyber Safety and Soundness,’ DefenseStorm CEO Sean Feeney said. “For this reason, we are thrilled to partner with the NAFCU community, an organization that is entirely dedicated to the empowerment and betterment of credit unions.”
DefenseStorm CTO Sean Cassidy demonstrating the PatternScout anomaly detection engine at FinovateSpring 2017.
The combination of cybersecurity and compliance is what helped carry the day for DefenseStorm. The company’s GRID platform is a co-managed, cloud-based, compliance-automated solution that combines technology with human expertise in financial institution security and compliance. Built from the ground-up as a cloud-based solution, DefenseStorm’s platform provides durable, redundant, real-time service, making both analysis and remediation faster and more cost-effective. GRID features built-in FFIEC CAT and ACET compliance elements, and connects compliance policies to real-time alerts to make it easy for FIs to prove their compliance and security processes to regulators and examiners.
“We are proud to partner with DefenseStorm because they are so clearly dedicated to credit unions, and to providing them with real-time cyber safety and soundness,” NAFCU Service Corporation president Randy Salser said. “Their solutions are vital to the success, security, and stability of financial institutions.” A wholly-owned subsidiary of the National Association of Federally-Insured Credit Unions (NAFCU), NAFCU Services fosters relationships between credit unions and industry partners from verticals including payments, risk management, and security.
With offices in Seattle, Washington and Atlanta, Georgia, DefenseStorm was founded in 2015 and has raised nearly $15 million in funding. In addition to demonstrating its PatternScout anomaly detection engine at FinovateSpring last year, the company’s CTO Sean Cassidy presented Cloud Security Fundamentals at our developers conference FinDEVr Silicon Valley 2016.
This spring, DefenseStorm was named a Top 40 Innovative Technology Company by the Technology Association of Georgia (TAG). In February, the company announced a partnership with Florida-based American National Bank ($280 million in assets).