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Ensure Your Bank’s Data Security with a Cybersecurity Risk Assessment

Where are your network’s vulnerabilities? And what would happen if your customers’ data were stolen? These are just a few of the questions that might keep you up at night, wondering if your bank’s network is secure or if a data security incident is imminent.

With a cybersecurity risk assessment from ImageQuest, you can be certain that all security gaps have been identified. We want you to rest in knowing that you’ll never have to say “No” to a question from an auditor, no matter if they’re a federal or state regulator. Let’s get started today.

Risk Management Starts with Risk Assessment

Risk is inevitable, and when you’re running a business, it comes in all forms. You cannot eliminate risk (particularly if you want to grow); however, you can evaluate threats so you’re better prepared to protect what needs protecting.

How will you know what your organization’s risks are? You can partner with ImageQuest and our collection of tools to make sure you’re seeing your entire risk landscape. We’ll help you select a framework for your cybersecurity risk assessment—one that will also serve you in developing and executing your company’s security control framework.

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Is a Cybersecurity Risk Assessment Necessary?

Whether you’re aware of risks to your network and data or not, you may find yourself wondering if a cyber security assessment is a necessity. Here are some of the reasons your bank, financial institution, or law firm may need to complete one:

It’s required by one or more regulatory agencies.

It kickstarts and supports good cybersecurity hygiene.

Clients will want to know that their data is secure.

And let’s not forget that after a cybersecurity risk assessment, your executive leadership will have a solid understanding of your organization’s risk profile—
which is the ideal place to be for growth and improvement.

How are CATs Used for Cyber Security Risk Assessment?

CATs, or Cybersecurity Assessment Tools, are one type of tool used by the security professionals at ImageQuest. They contain lists of questions that are based on controls.

We use CATs to do the following:

Identify an Inherent Risk Profile

  • Gather data about a bank’s size, complexity, business activities, technology infrastructure, and external dependencies.
  • Score risks based on the gathered data to reveal an overall level of cyberattack exposure.
  • Prioritize cybersecurity efforts, with a focus on the highest-risk areas.

Conduct a Cyber Maturity Assessment

  • Focus on five key domains (cyber risk management, threat intelligence, cybersecurity controls, external dependency management, cyber incident management)
  • Assess the maturity of each domain, ranging from baseline to innovative.
  • Analyze gaps and identify areas for improvement by comparing current security maturity levels against ideal maturity levels.

Mitigate Risk & Provide Actionable Insights

  • Recommend control measures based on identified risks and maturity gaps.
  • Prioritize the recommended measures.
  • Provide guidance for taking action.
  • Benchmark your risk profile and maturity against industry standards for similar institutions.
Identify security gaps

If you’re thinking, “I can’t possibly do this on my own,” or “I have no idea how to initiate a cyber security maturity assessment,” we understand. That’s why at ImageQuest we have professionals who are skilled in implementing these cyber assessments—because we think you deserve to have practical steps in place that make sense and that work.

Contact us today to see if your bank is ready to stand up to cybercriminals.

Get All the Benefits of Cyber Security Assessments for Your Financial Institution

When you schedule a cyber security vulnerability assessment for your bank, financial services firm, legal office, or other business that stores sensitive data, you’re taking action to protect the data of those who trust you. Skipping this crucial step could lead to the loss of that trust—and irreversible damage to your reputation.

Let’s look more specifically at the benefits of risk assessments:


When you have a structured and consistent cyber threat assessment that’s the same across your entire industry, you can be sure that biases play no part in security evaluations.


We’ll help your bank comply with relevant cybersecurity regulations issued by bodies like the FFIEC.

Sound Decisions

You’ll have insightful data and actionable recommendations so you can make informed decisions about resource allocation and cybersecurity investments.

Enhanced Communications

Thanks to a common framework, your personnel will be able to communicate effectively about cybersecurity risks and priorities.

In short, the big benefit of risk assessments in cybersecurity is Peace of Mind. You’ll know that your IT provider is looking objectively at your processes, making sure you can answer “Yes” to all compliance questions, that you’re making sound security decisions, and that your communications will be clear.

How much more time could you spend focusing on banking if you didn’t have to worry about data security? Let’s find out today with a consultation.

What is the NIST Cybersecurity Framework, Anyway?

Even if you’ve already decided that you want to focus solely on banking and leave cybersecurity entirely to the IT specialists, you might still wonder about the NIST framework you keep hearing about. What is it? Who uses it? Is it necessary?

These are all great questions and ones we’ll answer here.

NIST is the National Institute of Standards and Technology, and it aids businesses in reducing cybersecurity risks so they can more effectively protect their data and networks.

The NIST framework contains guidelines adopted by many organizations, including banks, for managing cybersecurity risks. There are a number of specific frameworks included under the NIST umbrella, including NIST-CSF, NIST 800-53, NIST 800-171, NERC CIP, ISO 27000, HIPAA HITECH, COBIT, and CIS.

No. Following NIST’s cybersecurity guidelines is voluntary; however, we do recommend doing so because its strategies have proven effective in fighting cybercrime.

The NIST framework consists of five main areas. They are:


  • Itemize all network components, including mobile devices, hardware, software, POS devices, and more.
  • Create a cybersecurity policy that includes the role of each employee in defending data, vendors used by your bank, and a list of anyone else who may have network access to data.
  • Devise a plan so everyone knows what to do in the case of a security incident.


  • Decide who should have access to your network and data.
  • Protect that data with cybersecurity software that’s regularly updated.
  • Encrypt all sensitive data.
  • Backup data regularly.
  • Establish policies for device and file disposal.
  • Train all employees and vendors in your policies.


  • Monitor your network and all devices for unauthorized access, users, connections, devices, and software.
  • Investigate suspicious activity.


  • Notify anyone whose data may have been compromised.
  • Minimize business downtime.
  • Contain the security incident.
  • Report the incident to law enforcement.
  • Investigate.
  • Debrief and update your cybersecurity policy.
  • Prepare for other non-criminal events as well.
  • Include all of these points in a recorded plan and test it regularly.


  • Restore network components that were affected.
  • Keep need-to-know parties informed.

The best place to start is with an information security risk assessment, in which we will evaluate security controls, identify threats and vulnerabilities, and use that information to prioritize risks, recommend targeted actions, and provide other valuable insights into the security of the data your bank is storing—all in an effort to minimize or eliminate cybersecurity incidents.

Cybersecurity Risk Assessment: Part of a Complete Cybersecurity Strategy

Vulnerability assessments in cyber security are valuable assets in the fight against cybercrime; however, we never recommend relying on them alone for data security. They should be combined with pen testing, vulnerability management, operational risk assessments, security awareness training, and other applicable modules.

Let’s talk about what’s necessary for your bank’s data security. The ImageQuest team is ready to hear from you.