Cyber Security Maturity Assessment for NBFCs: WeSecureApp’s Approach

WeSecureApp develops customized solutions as per the client’s requirements and always provides a business-friendly approach towards amending or formulating its methodology, tools, and technologies supporting the applicable regulatory norms as well as the client’s business objectives. Hence, understanding the criticality of maintaining a security posture for an NBFC firm, WeSecureApp follows the below Cyber Security Maturity Assessment (CSMA) approach.

The prime agenda for going ahead with the CSMA approach is to 

• Quantitatively describe the security posture of the firm. 
• Highlighting the holistic view of the firm’s cyber tenacity and gaps in existing strategies. 
• Secure their dependency on Information Systems and Technology.  
• Provide support in formulating future security roadmaps.

With this approach, we moved ahead with optimizing the cybersecurity framework to best serve the organization. During the Analysis phase, a comprehensive and detailed evaluation was performed of all the critical processes serving the business operations. Major assessment areas are highlighted below:

Data Localisation Implementation

In line, with the RBI requirement of localizing all the data that is being stored, transmitted, or processed by the organization (as it integrates its business services with one of the reputed banks), WeSecureApp compliance experts conducted an audit for Data Localisation in which the organization processes were being reviewed and evaluated with respect to local laws and regulations regarding the storage and handling of data.

Cyber Resiliency through Organisation Policies

Policies and procedures of any organization reflect the company’s vision and these policies govern the different aspects of the business. These policies help in standardizing all the processes as the company changes and grows.

WeSecureApp conducted an effective review of all the policies and processes being followed in the organization. We majorly focussed on the below domains in order to ensure that the organization is up to date with the latest regulations and technologies, as well as consistent with the industry’s best practices.

• Information Security Management
• Asset Management
• Identity and Authentication Management
• Operations Security
• System Acquisition, Development, and Maintenance
• Information Security Aspects of Business Continuity 
• Information Security Incident Management

Conclusion

Utilizing our extensive knowledge and experience in the field of cyber security, we provide our customers with concrete advice that assists in protecting their valuable assets and critical data. This technical risk assessment paved the road for the WeSecureApp team to help companies looking for cyber risk analysis in their new investment ventures.

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