Credit Union ensures NCUA compliance and keeps costs under control with Netwrix Auditor
The Credit Union of Denver uses Netwrix Auditor to adhere to industry requirements and reduce staff workload on compliance reporting
Irvine, CA, June 14, 2016
Netwrix Corporation, the first to introduce a visibility and governance platform that supports both on-premises and hybrid cloud IT environments, today announced that the Credit Union of Denver has chosen Netwrix Auditor to replace manual change auditing processes with automated IT auditing. The solution helps the credit union to optimize expenses and simplify the process of passing compliance audits.
The Credit Union of Denver has been serving its members since 1931, offering fewer fees and better rates on auto loans, credit cards and mortgages than common banks. Today the credit union has over 57,000 members and $669,749,162 in total assets. It continuously develops its offerings by expanding membership eligibility and extending services to suit the needs of Denver’s residents.
The Credit Union of Denver is required to meet the demands of the National Credit Union Administration (NCUA), which includes proving the oversight of system configurations and access controls to sensitive data, as well as the monitoring of activities of employees with escalated privileges. As a mid-size, local financial company with limited resources, the Credit Union of Denver has been looking for a way to slash compliance expenses and replace inefficient manual processes of finding and aggregating audit data necessary for passing compliance audits.
Netwrix Auditor enabled the Credit Union of Denver to save about eight hours each quarter during audits and approximately four hours every week on gathering audit data as a reference for future audits. The solution granted full visibility over changes in Active Directory and rich context about user activity to cover all questions that may arise during audits. Netwrix AuditArchive™ technology enabled the audit data to be preserved throughout the required period.
Netwrix Auditor is a visibility and governance platform that enables control over changes, configurations and access in hybrid cloud IT environments to protect data at rest, regardless of its location. The platform provides security analytics to detect anomalies in user behavior and investigate threat patterns before a data breach occurs.
"Before we started using Netwrix Auditor, preparing for the audit was not only a long-painful task, it was also rather expensive," commented Benjamin Shumaker, Network Information Security Officer at the Credit Union of Denver. "Netwrix suits us because it is simple and efficient. It also keeps our compliance costs down while making it easier to follow strict federal and industry regulations."
"Financial organizations are the most attractive target for cyber-attacks. Since it is under constant pressure, this industry has evolved dramatically—in terms of prevention and detection of cyber threats," said Alex Vovk, CEO and co-founder of Netwrix. "A crucial part of compliance requirements is having deep visibility into what is happening across IT networks to mitigate the risks of security violations that could compromise critical data. This approach helps to avoid false confidence in implemented IT procedures and appraise the efficiency of implemented security measures."
To read the complete case study of the Credit Union of Denver’s use of Netwrix Auditor, please visit: www.netwrix.com/go/cud
About Netwrix Corporation
Netwrix Corporation was the first to introduce a visibility and governance platform that supports both on-premises and hybrid cloud IT environments. More than 150,000 IT departments worldwide rely on Netwrix to detect insider threats on premises and in the cloud, pass compliance audits with less expense and increase productivity of IT security and operations teams. Founded in 2006, Netwrix has earned more than 90 industry awards and been named to both the Inc. 5000 and Deloitte Technology Fast 500 lists of the fastest growing companies in the U.S. For more information, visit www.netwrix.com
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