What do you really know about your bank’s data? Specifically, do you know how well it’s protected? Where it’s housed? And who has access to it? When your bank collects data from customers – whether it’s as simple as name and address or more complex financial information – you need proper security measures to protect that data. With an increase in the number of cybersecurity regulations and the growing number of customers in your enterprise, it can be hard for small community banks to keep their data secure. That’s where an MSSP can help. As an outsourced managed security services provider, an MSSP can handle all your complex cybersecurity needs and help with compliance requirements. Whether implementing a pen test (penetration testing), needing documentation to show an examiner, or enhancing your cybersecurity measures, an MSSP can help. What Is an MSSP, Anyway? A managed security services provider (MSSP) is a third-party company that your bank hires to provide digital security. Typically, an MSSP has a deeper bench of system administrators and security engineers than its clients. An MSSP likely also has partnerships with security vendors that are more costeffective than what a single client hiring those vendors would face. And an MSSP has systems that provide better alerting and faster response than what many clients could achieve on their own. Services provided by MSSPs include: • Managed firewall protection • Threat detection and response • Cloud-based security measures to improve the cyber protection – and productivity – of off-site or remote workers. • Management of security risks • Data and information security • Compliance with industry standards and regulations What’s the Difference Between an MSP and an MSSP? Managed services providers (MSP) are also outsourced IT solutions for companies. However, MSPs offer generalized IT and network support, such as VoIP, cybersecurity training, cloud setup and management, and some security solutions. An MSSP provides specialized security solutions, focuses on compliance requirements, and handles incident response. Another significant difference between the two is the operation center of the companies. MSPs operate from a network operations center (NOC), where they can monitor and manage your network. MSSPs add a security operations center (SOC) to provide cloud, network, and email security. Why Do I Need an MSSP? Your bank is a prime target for hackers. Outsourcing some of the security WHY SHOULD I HIRE A MANAGED SECURITY SERVICES PROVIDER (MSSP)? By Jay Mallory, ImageQuest 12 West Virginia Banker
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