Finance ∙ 2019

Cyber Crisis Management, EMEA

For some, an IT problem could quickly become a cyber disaster. Crisis24 helps a multi-billion dollar financial institution with a chink in their cyber defense.

Our risk mandate

We were contacted by a financial institution that provides assistance to governments and private companies. This client is responsible for promoting the economic development of its members, committing funds of over US$2 billion each year to their continued growth and success. While the client was heavily dependent on their IT systems for providing ongoing service to clients, their disaster recovery plans were untested and potentially vulnerable. They asked for our help.

Our solutions

  • Reviewed all plans and material related to business continuity with a strong focus on disaster recovery
  • Developed and launched a full-day simulated cyber incident, using the client’s actual IT network and architecture to create a customized and realistic scenario
  • Involved IT, Crisis Management Teams and executive board members in the exercise to cultivate better understanding and response capability

The outcome

Our initiative helped our client identify existing gaps and weaknesses in their disaster recovery plans, and demonstrated the need to refine their incident classifications. Our involvement also shed light on the potential threat to the entire financial infrastructure, illustrating for the executive committee that an IT failure could have huge operational implications throughout the organization. Armed with more clarity and insights, our clients could respond with the appropriate resources and support.