Maximizing Cybersecurity with Data Loss Prevention
As an efficient, profitable community bank deeply rooted in relationships, Verus Bank of Commerce sets itself apart by living up to its Latin namesake and doing the right thing—for its customers, employees, shareholders and community. Scott Horton, chief financial officer of the Fort Collins, Colorado-based bank, credits that longstanding philosophy for its growth and success as one of the premier banking franchises in its market.
The bank focuses on building relationships throughout its community and lending locally to support area businesses.
With a dozen employees, Verus Bank of Commerce delivers personal and business banking services and creates increased efficiencies by outsourcing specific IT- and cybersecurity-related functions. The bank has partnered with CSI for nearly a decade for its managed services, including IT management and cybersecurity solutions. This approach provides staff with needed support and enables them to focus on delivering the best possible service to customers.
Data Loss Prevention: The Next Step for Increased Protection
In 2023, Verus Bank of Commerce agreed to pilot CSI Managed Data Loss Prevention (DLP), a new solution delivering around-the-clock data protection. Having worked with CSI for years, Horton knew the bank could rely on the company’s expertise in strengthening its security posture: “DLP was recommended by CSI as the next logical step on our roadmap for email and data security.”
Since data loss poses a significant risk for financial institutions, many banks are actively working to increase their defenses. CSI Managed DLP protects Verus Bank of Commerce’s data and mitigates risk of breaches, giving the bank control over how data is shared by identifying sensitive information and applying policies to prevent that data from leaving the bank’s system. DLP tools identify if a user takes unauthorized actions involving sensitive data, alerting the bank of any activity that violates established policies.
Additionally, since CSI Managed DLP is a cloud-native technology, the implementation required no installation of software on the bank’s system. According to Horton, “From an implementation standpoint, it was seamless—the entire process went smoothly.”
Verus Bank of Commerce has relied on CSI Managed DLP for months now, and Horton is satisfied with the results, citing no compromises thus far. In addition to delivering reports and alerts to the bank’s staff, CSI’s DLP solution provides reporting that fulfills obligations for the bank’s cybersecurity insurance underwriters. As regulators continue to expand their expectations for security, DLP is an additional layer of protection to keep threats at bay.
Partnering for Enhanced Cybersecurity
Verus Bank of Commerce also partners with CSI for a variety of cybersecurity IT solutions, and Horton says the CSI team delivers exceptional support, whether through managed services, help desk services or implementation of cybersecurity monitoring solutions like DLP. “I’m not very technical, so it’s nice to have a team that makes sure the technology works for us as an institution,” says Horton.
With CSI as its partner, the bank has what Horton calls a “one-stop shop” for its IT and cybersecurity management needs, relying on CSI for its cloud infrastructure, VPN access, disaster recovery preparation and more. Horton says the CSI team has always taken care of the bank, and when he does have concerns or questions, they are promptly addressed. The bank has also recently expanded its partnership to include IT governance services, leveraging strategic guidance from CSI’s advisors to ensure its IT, security and compliance strategies align with current technology and business objectives.
“I wouldn’t consider moving to anybody else for these services, because I know how CSI does it. They understand the banking environment and where we are as an institution.”
Chief Financial Officer, Verus Bank of Commerce
Keeping a Pulse on the Cybersecurity Landscape
As technology evolves, Horton appreciates that the CSI team provides him with a forward-looking view of the IT and security landscape. He also believes CSI understands the technical skills of his staff, offering supplemental services and expertise where needed: “I wouldn’t consider moving to anybody else for these services, because I know how CSI does it. They understand the banking environment and where we are as an institution.”
The CSI team keeps a close eye on industry trends, developing solutions that address the developing needs of financial institutions. According to Horton, “When a new product is coming down the pipe, CSI gives me a heads up to let me know it’s likely something we’ll need to look at in the next few years.” In fact, Horton says usually by the time regulators make a recommendation, the bank has already implemented it because of CSI’s guidance: “We typically beat the regulators telling us we should do something by at least 18 months.”
With CSI by its side, Verus Bank of Commerce has a trusted partner to help navigate an increasingly complex security and compliance landscape—all while ensuring its valuable data remains protected. This allows the bank more time to focus on what it does best: doing what’s right for its employees, customers and community.