Safe Systems announced availability of its Enhanced Cybersecurity Assessment Tool (ECAT) for financial institutions. The application is designed to help financial institutions complete the complex FFIEC Cybersecurity Assessment Tool (CAT). The ECAT application provides a user-friendly interface that steps users through assessing Inherent Risks and Control Maturity specific to their financial institution.
The application can be implemented as a subscription-based application or with Safe Systems’ comprehensive Cybersecurity RADAR service. ECAT provides helpful hints for understanding the numerous assessment factors and how to respond. To provide context for and justify responses, ECAT allows users to capture notes, and retains them between assessments. Once the initial assessment is completed, financial institutions can maintain it each year, editing and building off of the previous year’s data. Additionally, ECAT provides summary and detailed reporting of the institution’s risks vs. controls.
“While it is certainly beneficial that the FFIEC CAT was released to help keep fraud at bay for financial institutions, the complicated questions can be a bit daunting for many,” said Darren Bridges, president of Safe Systems. “Our ECAT application allows financial institutions to re-assess as needed and easily report upon changes to the risk profile and control environment.”