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Forcht Bank: Cybersecurity Excellence through Strategic Outsourcing

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15 March 2022

Winner of Celent Model Risk Manager 2022 Award for Legacy Transformation

Abstract

Forcht Bank, a community bank operating in Kentucky and Ohio, aimed to strengthen cybersecurity by leveraging managed services. The bank believes that, through outsourcing, small banks can implement services, security, and infrastructure comparable to larger institutions. The new cybersecurity platform provides managed services by Fiserv and uses Microsoft security tools, Splunk, and other systems on a hybrid cloud infrastructure on Microsoft Azure.

Cybersecurity is a technologically and operationally complex domain, requiring myriad tools, highly trained response teams, and increasingly advanced analytic and data science capabilities. By outsourcing its technology infrastructure to experienced providers, Forcht Bank freed itself to focus on the strategic planning and governance aspects of cybersecurity.

Click on the video link below to watch a conversation between Carl "Chip" Clements, Executive Vice President at Forcht Bank, and Neil Katkov, Director with Celent's Risk practice; Celent Risk research members can download the PDF of a detailed case study.