FFIEC Compliance
The Federal Financial Institutions Examination Council (FFIEC) has set specific guidelines for security in financial institutions. ISG Technology helps your financial firm meet those FFIEC standards to remain secure and compliant.
Keeping Your Financial Compliance in Check
Staying compliant with government regulations is essential to keeping your company running smoothly. That’s why ISG Technology offers expert compliance consulting services to our clients who are subject to FFIEC compliance.
Our team of experts will work with your business to make sure that you are complying with all the latest government regulations, including those set by the FFIEC. We’ve worked with clients for years to help them achieve full compliance, so we’re extremely familiar with the FFIEC’s IT requirements and can guide you every step of the way with practiced expertise.
What Is FFIEC?
The FFIEC (Federal Financial Institutions Examination Council) is a government regulatory agency that sets standards for financial institutions. The FFIEC was established in response to the growing number of banking and securities fraud cases. Their goal is to promote safe and sound banking practices by regulating the financial industry.
Which Businesses Need to Be FFIEC Compliant?
The FFIEC has a number of compliance regulations that apply to a variety of businesses in the financial industry, including:
- Banks and other financial institutions
- Credit unions
- Money transmitters
- Debt collectors
- Prepaid card providers
If you are unsure whether your business needs to be FFIEC compliant, our expert team at ISG Technology can help you understand which compliance standards, if any, apply to you.
How to Comply with the FFIEC
FFIEC compliance requirements cover eleven main areas of security within your business. Each area has specific actions you must take and standards you must reach to fully comply:
- IT Audit
- Business Continuity Planning
- Development and Acquisition
- E-Banking
- Information Security
- IT Management
- Operations
- Outsourcing Technology Services
- Retail Payment Systems
- Supervision of Technology Service Providers
- Wholesale Payment Systems
We can help you meet these standards by auditing your current setup, remediating areas of noncompliance, and creating and implementing a comprehensive plan for continued compliance.
Why Use FFIEC Compliance Services?
FFIEC compliance services can help businesses in a number of ways. When you work with a professional for compliance services, you get:
- Peace of mind knowing that your business is compliant with all government regulations
- Reduced risk of fines, penalties, and criminal charges
- Improved efficiency by avoiding costly mistakes and maintaining security
If you’re looking for a reliable partner to help you with your FFIEC compliance needs, then contact ISG Technology today. We would be happy to discuss our compliance services with you to help you find the right solutions and answer any questions you may have.
How ISG Technology Can Help
ISG Technology is a leader in compliance services, with years of experience helping financial institutions comply with government regulations. Our team of experts will work with your company to create a compliance plan that meets the FFIEC’s IT and security requirements. We will also help you to implement and monitor this plan, so you can be confident that your business is always in compliance with FFIEC regulations.
If you’re looking for a reliable partner to help you with your FFIEC compliance needs, then contact ISG Technology today!