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5 Key Advantages of Evolven Integrity Monitoring Over Legacy FIM

In the realm of IT operations, compliance, and security, file integrity monitoring (FIM) has been a bedrock detective control at the foundations of best practice since the 1990’s. However, when it comes to optimizing change and configuration controls for the rapidly changing, modern hybrid multi-cloud environments we manage today, Evolven excels in several key areas. In this technical blog, we'll explore five aspects where Evolven Integrity Monitoring outperforms legacy FIM, providing enterprises with enhanced visibility, efficiency, and security.

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Avoiding cross-application risk with enterprise-wide visibility

An Intellyx BrainBlog for Evolven, by Jason English

Most of us have never had to think about enterprise digital risk, in all its forms.

Until recently, only a select council of IT executives needed observability into a broad range of potential software and hardware problems. They would all get together for a quarterly or monthly risk management review board meeting, either in person or on a very long, monotonous conference bridge.

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Advancing Development Efforts: Developing for T+1 Settlements

Introduction

In the fast-paced world of financial services, where transactions occur at lightning speed, settlement processes play a vital role. Traditionally, trade settlements used to occur on a T+2 (Trade Date plus two business days) basis. However, with the evolving technology landscape and growing demands for real-time transactions to mitigate risks, the industry has embraced the challenge of transitioning to a T+1 settlement cycle by May 28th, 2024. To meet this shift requires significant development efforts to ensure seamless and efficient operations. In this blog post, we will explore the development initiatives being undertaken by financial institutions to meet T+1 settlement requirements.

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Beyond the Checklist

Managing Configurations to Mitigate Availability, Compliance, and Cybersecurity Risk

Along with making and saving money, managing risk is one of the top three priorities for any executive. As with financial motivations, dealing with risk must percolate through the entire organization. Everyone is responsible for managing the risks within their respective purviews.

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Unleashing the Power of AI: The Synergy of Evolven and ChatGPT

The field of artificial intelligence (AI) is witnessing a surge of interest in a subfield known as generative AI. Generative AI refers to models that can generate new content, whether it's a piece of text, an image, or even a piece of music. These models learn patterns from existing data and use this knowledge to create new data that's similar but not identical, much like an artist might learn to paint by studying the works of masters and then create their own unique paintings.

Generative AI is generating both excitement and fear. The excitement comes from the potential applications. Imagine a model that can write a new novel in the style of your favorite author, or compose a piece of music in the style of Mozart. The possibilities are endless, and the potential for creativity is enormous.

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Redefining Control: Conquering Cloud Configuration Complexity

Go to the Cloud they said.  It makes things faster, better, cheaper, they said.  Does it? 

Well, it depends on your perspective. According to Uptime’s 2022 Data Center Resiliency Survey, “networking-related problems have been the single biggest cause of all IT service downtime incidents – regardless of severity – over the past three years. In fact, outages attributed to software, network, and systems issues are on the rise due to complexities introduced by the increased use of cloud technologies, software-defined architectures, and hybrid, distributed architectures.”

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A Modern View of Risk and Compliance: Eliminate the Fear of Rapid Change

They say the only constant is change, but for IT the pace of change is not just constant: it’s constantly accelerating. This puts a ton of pressure on IT dev, sec, and ops teams because change is the primary cause of failure.

Business goals frequently conflict with security and risk mitigation controls, and it’s hard to maintain the balance between rapidly improving an app’s user experience and keeping systems compliant, available, and safe. The result is often security and compliance gaps, despite the best of intentions.

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T+1 Transaction Timeline From 1976 to May 2024 and beyond.

As the deadline for the SEC’s T+1 initiative approaches on May 28th, 2024, IT departments are facing the challenge of making sure their systems are up to date and ready for the demands of T+1 transactions. The T+1 initiative is a move to shorten the trade settlement cycle from the current two-day, T+2, to a one-day,  T+1. This is a major change for the industry, requiring that systems support the completion and settlement of transactions within 24 hours, and also scale to the increased demand enabled by the faster settlement time. And in this case - there really isn’t a Plan B or hope for a postponement. The consensus of the industry is that just like with the year 2000, a back-out of T+1 functionality is not an option.  Any problems will need to be addressed by the applicable firm(s) prior to the deadline, or be subject to fines and associated damages. The industry is moving forward with T+1 settlement on May 28th, 2024  - whether you are ready or not.

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5 Top Reasons Configuration is A Risky Business

The complexity and rapid evolution of IT systems have made configuration a challenging and risky business for enterprises. Misconfiguration or improper configuration changes can expose organizations to cybersecurity threats, compliance violations, and reputational damage. In this blog post, we will discuss the five reasons why configuration is a top challenge for IT teams globally. To mitigate these configuration risks, organizations must leverage configuration risk intelligence, which involves gathering, analyzing, and using information about IT configuration state and changes to identify potential risks and vulnerabilities proactively. With configuration risk intelligence, enterprises can prioritize security controls, inform risk management decisions, communicate risks to stakeholders, and improve their overall security posture.

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ISO27001 and Best Practices for Preparing for Audit

ISO 27001 is an international standard that outlines best practices for information security management systems (ISMS). IT professionals must ensure their organizations comply with this standard to safeguard sensitive data, reduce security risks, and demonstrate their commitment to security.

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