FS-ISAC, the member-driven, not-for-profit organization that advances cybersecurity and resilience in the global financial system, announced that Google Cloud has joined its Critical Providers Program, designed “to strengthen the security of the financial sector’s supply chain.”
The partnership will “focus on reducing third-party cyber risk to avoid service disruptions within the financial sector and foster a community of transparency as critical service providers increasingly host, connect, and protect a substantial percentage of financial institutions’ infrastructure.”
Teresa Walsh, Global Head of Intelligence of FS-ISAC, said:
“Financial institutions are increasingly relying on cloud-based technology, highlighting the need to bolster cloud computing services and the greater financial sector’s protections and preparedness against sophisticated cyber threats. Our partnership with Google Cloud will foster continuous collaboration and information sharing between our member firms and this key provider to the sector, including allowing for the dissemination of timely security information and remediation in the event of a large-scale incident.”
Phil Venables, Chief Information Security Officer at Google Cloud, said:
“Google Cloud’s partnerships with key organizations in critical infrastructure sectors, such as FS-ISAC, are vital to ensuring our customers are protected and educated amidst a complex and evolving threat landscape. We are already a long-standing supporter of FS-ISAC and are excited to be the first major cloud provider in the Critical Providers Program. We look forward to sharing our resources and unique insights with FS-ISAC to build a more secure and resilient financial system.”
The Critical Providers Program is “an official conduit for non-financial organizations providing network infrastructure and services to share sensitive, timely, and industry-specific security information.”
During large-scale cyber incidents or threats, providers can leverage the dedicated communication channels “to expedite the dissemination of accurate information necessary to address the immediate risks and keep the financial industry safe.”
The Program was “launched in 2022 with Akamai as a founding partner.”
As noted in the update, FS-ISAC is “the member-driven, not-for-profit organization that advances cybersecurity and resilience in the global financial system, protecting the financial institutions and the people they serve.”
Founded in 1999, the organization’s real-time information-sharing network “amplifies the intelligence, knowledge, and practices of its members for the financial sector’s collective security and defenses.”
Member financial firms “represent $100 trillion in assets in 75 countries.”