FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--Member Driven Technologies (MDT), a CUSO that hosts the Episys® core platform from Symitar® to provide a private cloud alternative for core processing and IT needs, today announced that it has joined Sheltered Harbor to enhance resiliency capabilities for financial institutions in the event of a major cyber incident.
Sheltered Harbor, a subsidiary of the Financial Services Information Sharing and Analysis Center, is a not-for-profit industry-led initiative launched in 2015 to enhance the industry’s cyber-resiliency and better protect customer accounts. It works to ensure that participating financial institutions can provide customers and members access to critical account assets in the case of a destructive cyberattack or other major operational outage.
Sheltered Harbor provides an important additional layer of protection, enhancing both accountholder and financial sector resiliency. The standard offers a way for the entire financial services industry to come together to protect customers’ and members’ assets.
“Given today’s cyber threat landscape, we are committed to working with organizations like Sheltered Harbor to give financial institutions the best possible tools to protect themselves, their customers and their members,” Larry Nichols, CEO, MDT explained. “MDT is creating procedures using the Sheltered Harbor standard to provide data vaulting and data restoration services for financial institutions. Participating with Sheltered Harbor allows us to contribute to developing the most modern and robust standards and procedures to keep account data in safe hands.”
About Sheltered Harbor
Sheltered Harbor is the not-for-profit, industry-led standard for protecting and recovering customer account data if a catastrophic event causes critical systems - including backups - to fail. A subsidiary of the Financial Services Information Sharing and Analysis Center (FS-ISAC), its purpose is to promote the stability and resiliency of the financial sector and to preserve public confidence in the financial system in the face of an extended systems outage or destructive cyberattack. The Sheltered Harbor standard combines secure data vaulting of critical customer account information and a resiliency plan to provide customers timely access to their data and funds in a worst case scenario. Financial institutions that successfully implement the standard become eligible for Sheltered Harbor certification. Sheltered Harbor is currently open to U.S. banks, credit unions, broker-dealers, asset managers, industry associations, and core service providers. Visit shelteredharbor.org for more information.
About Member Driven Technologies
MDT hosts the Episys® core platform from Symitar® to provide credit unions with a private cloud alternative for core processing and IT needs. The CUSO’s service-first, hybrid approach to outsourcing enables credit unions to boost efficiencies and security and reduce costs while maintaining a high level of control. In addition to hosting the Symitar Episys platform, MDT also hosts dozens of seamlessly integrated solutions to run the entire institution, including digital banking, payments, lending, security, continuity and regulatory services. MDT serves credit unions representing more than $22 billion in assets and approximately two million members. Visit mdtmi.com or follow @memberdriven for more information.