Axio joins with Cyber Risk Institute to improve cybersecurity resilience for financial institutions

Axio announced a new joint initiative with the Cyber Risk Institute (CRI), a non-profit coalition of financial institutions and trade associations.

Together, Axio and CRI’s combined talents will deliver the CRI Cyber Profile tool to CRI members and other interested financial institutions with the Axio360 platform.

The CRI Profile is the benchmark for cyber security and resiliency in the financial services industry. The rapid increase of cyber security requirements for financial firms has created a challenge for many institutions fighting to meet these requirements. CRI’s Profile is designed to help financial organizations continue to meet these regulatory expectations while improving all crucial security efforts by streamlining compliance activity. The CRI Profile is currently being used as the cyber risk assessment tool of choice by financial institutions of varying sizes and complexities.

“The Profile is based on established frameworks and standards, and Axio principals are experts in cyber security framework authorship and architecture,” says Scott Kannry, CEO of Axio. “We understand how financial organizations can achieve the maximum benefit by dynamically using the CRI Profile. It is my pleasure to announce the advantages that financial institutions and other organizations will enjoy by using the Profile on Axio360.”

The Axio platform was built to deliver on the belief that cyber security is not a challenge that can only be managed by compliance frameworks or periodic static assessments. The Profile is designed to scale across financial institutions of varying complexity, interconnectedness, and criticality. The robust functionality of Axio360 complements and supports the use of the Profile as a dynamic management method instead of just an assessment “snapshot” in time.

“From the sleek user interface to the Axio team’s technical expertise, CRI felt that the Axio platform provides both form and substance,” says Josh Magri, CRI Founder and President.

“Our initiative with Axio will help our member organizations and the broader financial services community more effectively use the Profile as a controls management tool. As a result, financial organizations will be better enabled to succeed in the cyber fight by allowing them to focus on risks that matter the most.”

The benefits of the CRI Profile being delivered via Axio360 include:

• Optimized ease-of-use in using the Profile dynamically, setting and managing target profiles and stakeholder collaboration
• Robust, anonymized peer benchmarking across CRI profile users
• The ability to manage and view multiple deployments of the Profile across different operating entities with medium and large financial institutions.