In light of the COVID-19 pandemic, several financial firms are embracing the Cloud to accelerate growth by optimizing business application performance. Recognizing the demand for both public, and private Cloud, Thrive brings to the table a secure, redundant, and Cloud-based infrastructure that alleviates the roadblocks to Cloud migration, particularly compliance and cyber security. “Migrating to the Cloud doesn’t mean that the firm’s responsibility in terms of oversight and compliance is shifted to the Cloud service provider,” says Marc Capobianco, Executive Vice President, FinTech, at Thrive. Thrive empowers organizations across all verticals to maintain a secure and compliant IT infrastructure through a team of compliance experts who help organizations address regulatory requirements and policies of FINRA and SEC. The company maintains a laser-focus on specific risk alerts and cyber security reports coming from regulatory agencies. With that, they help clients adhere to compliance and regulatory mandates including SEC, FINRA, , PCI, DSS and HIPAA. Mobile security and mobile device management is a critical aspect of security for financial firms. By defining access and implementing control parameters, Thrive ensures data access complies with the principle of least privilege thereby preventing data theft and intrusion.
With a comprehensive cyber security plan backed by round the clock monitoring and industry- leading technology, Thrive protects the client’s vital data, SaaS applications, end users, and critical infrastructure. The company employs a multi-layered security approach that includes security tools such as NextGen firewalls, intrusion prevention software, advanced endpoint detection and response, and more. As a part of maintaining a strong security culture across the firm, Thrive also offers industry-specific training videos that educate employees on the best cyber security practices.
Through such initiatives, the company has been successful in preventing cyberattacks, including email-phishing campaigns targeted at the employees of the organization. “More importantly, having a deep understanding of a financial firm’s business line applications such as portfolio management systems and trading applications is essential” comments Capobianco.
Our private Cloud platform delivers Enterprise-grade service from multiple SSAE 16 SOC 2 data centers and enables organizations to put investors at ease
The company has developed a FinTech Platform that gives alternative investment management and hedge fund communities a way to manage the full investment lifecycle through the front, middle, and back-office via a single custody private Cloud. “Our private Cloud platform delivers Enterprise-grade service from multiple SSAE 16 SOC 2 data centers and enables organizations to put investors at ease,” says Capobianco. The platform also mitigates complex IT security challenges by offering proven protection.
In specific customer engagement, an investment management firm chose Thrive to help oversee its IT compliance program. SEC and FINRA standards require financial institutions to adhere to data storage guidelines. The client undergoes an annual internal infrastructure audit to ensure that its solutions are compliant with federal mandates. Thrive’s financial services division worked closely with the client’s IT and communications manager to produce comprehensive business plans. With an awareness of the client’s IT expenditure, Thrive came up with new recommendations based on the existing compliance regulations. Thrive’s team provided solutions that met the client’s compliance goals and focused on improving security and performance. By implementing advanced active directory auditing capabilities with Thrive’s SIEM as a Service solution, the client gained advanced capabilities to work within FINRA and SEC guidelines efficiently and securely.
Thrive continually stays up to date with the recent market trends in the compliance realm to offer its clients quality services. Their engineers and solution architects achieve and maintain certifications, undergo frequent training, and work with the best-of-breed vendors in the cyber security market. Moving ahead, Thrive plans to revolutionize traditional managed services through a platform with automation as its central feature. With that, the company expects to automate some of their most labor-intensive and manual tasks using the platform.