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Challenge
A major financial institution with lines of business in banking, healthcare, and insurance services had an inefficient internal system for responding to data privacy and security incidents.
Solutions
After implementation, the company’s security team ran Radar Privacy™ in parallel to the old system, but quickly became convinced that Radar® Privacy provided consistent, accurate incident risk assessments more efficiently. Radar Privacy helped the company better demonstrate its burden of proof with all the comprehensive reports and documentation stored in the software’s easily accessible repository.
A Fortune 150 Financial Company Selects Radar Privacy
A major financial institution with lines of business in banking, healthcare, and insurance services had an
inefficient internal system for responding to data privacy and security incidents.
The security team required a more flexible solution that would keep them informed about complex state and federal laws while providing a consistent platform for incident risk assessments. The team required in-depth guidance and a workflow that would ensure its incident response process complied with the latest regulations.
Solution Requirements
With tens of thousands of employees and multiple lines of business, the company had a rigorous set of requirements. The security team needed a solution that would:
- Offer breach guidance based on the correct interpretation of the latest state and federal laws.
- Provide a consistent, accurate method for incident risk assessment.
- Be flexible to meet the company’s unique needs, such as single sign-on for faster incident reporting and support for the Gramm-Leach-Bliley Act (GLBA).
- Help demonstrate the burden of proof for state Attorneys General, and other regulators and auditors.
- Be highly secure.
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Evaluation of Options
The company issued a request for proposal (RFP), and Radar Privacy was evaluated against three other solutions: a prominent GRC platform, the organization’s internal systems, and another independent software provider. The security team quickly eliminated the GRC platform due to the 18 months it would take to implement and its lack of flexibility. The team also decided to eliminate the hassle of keeping its internal systems up to date with the constantly changing state laws.
Only RadarFirst and the other software provider remained. The security team ran its own scenarios through both systems and found that Radar Privacy provided the in-depth regulatory guidance it needed. The different software had the regulations but minimal guidance and interpretation for determining whether an incident was a reportable breach.
Implementation
For the first few months, the company’s security team ran Radar Privacy in parallel with the old system, but quickly became convinced that Radar Privacy provided more efficient, consistent, and accurate incident risk assessments. In addition, Radar Privacy helped the company better demonstrate its burden of proof through comprehensive reports and documentation stored in the software’s easily accessible repository.
The Radar Privacy business unit was launched in three months. The software’s agility allowed Radar Privacy to quickly meet client requirements, such as integrating with the employee authentication service to enable single sign-on. Now, the many thousands of employees across the enterprise can report and escalate incidents with ease using web forms.
Radar Privacy’s functionality also allows different groups of users to perform an incident risk assessment based on the nature of the incident, such as whether it involved paper or electronic records.
Why Radar Privacy?
At the end of the day, the company chose Radar Privacy™ because it is purpose-built software for managing incident response. It is not an afterthought to a GRC platform or privacy and compliance software. It eliminates the cost and hassle of building and maintaining an internal system. Most importantly, its Breach Guidance Engine provides the industry’s most thorough regulatory guidance for incident assessment and compliant response recommendations.
In summary, Radar Privacy helped transform this Fortune 150 company’s incident response processes with:
- Breach Guidance Engine: Guides the security and privacy teams through the process of incident reporting, assessment, notification, and response in compliance with the latest state and federal laws.
- A multi-factor, multi-jurisdictional platform enables the handling of complex and unique incidents.
- Consistency and an accurate method for managing incident response, especially incident risk assessment.
- Comprehensive reporting and documentation are stored in a central repository to help the company meet its burden of proof.
- Flexibility to add features, such as single sign-on and support for multiple lines of business, with the addition of Gramm–Leach–Bliley Act (GLBA).
- Highly secure to protect large volumes of regulated data. Radar Privacy operates in a safe, cloud-based environment.
- An operational approach to incident response, which provides greater insight into incident causes and trends, helps the company better manage breach risks.
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Trusted by leading organizations, RadarFirst enables teams to manage incidents with speed, consistency, and defensibility by standardizing how incidents are captured, assessed, and actioned.
