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Bank’s independent contractors. Trust, but verify

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Nowadays hiring third party contractors became an essential part of the business strategy in any industry. While working with remote vendors, an important security issue appears. As independent contractors have privileged rights, how to protect yourself from sensitive data exposing? This problem became a hot issue especially for banks and data centers, because information seems to be their most important asset.

 

Pros and cons of hiring independent contractors for banks

 

First, banks can often save money by hiring remote contractors instead of employees. Hiring third party providers instead of employees also reduces exposure to some types of lawsuits, such as those alleging job discrimination or wrongful termination. The most important reason for many banks is a high level of flexibility that can't be obtained with employees.

 

Despite the advantages, many banks are wary of hiring independent contractors because of security and compliance issues. Banks are rightfully concerned with the security risks in exposing their sensitive data, customers’ financial information, or IT infrastructure to providers (learn how you can audit financial application providers).

 

How to find a perfect solution for remote vendors monitoring?

 

Unfortunately, only few technical products can solve this very problem. Moreover, most of them are not directly intended to monitor third party suppliers.

 

There are several user activity monitoring solutions for corporate network that are suitable for remote vendors auditing. But only few of them have both server and workstation agents. In addition, these solutions are not so easy-to-use. They are quite resource consuming to analyze and require significant material investments.

 

Session video recording is an interesting approach to audit with ease everything that takes place on the screens of the computers in the network. In these latter days, such an approach has gained popularity in the area of endpoint monitoring. And what about servers?

 

As we know, independent contractors have privileged access to enterprise servers, which can easily become a weak security point. Thus, terminal session monitoring is an essential part of enterprise security chain.

 

Terminal session video recording provides the complete searchable video records of all actions on the servers in the corporate network and doesn’t require much time or any specific tech skills to analyze it.

 

Nowadays, software products, which correspond to the characteristics listed above, are quite expensive. Fortunately, a user activity video recording software solution, named Ekran System, combines powerful features and cost saving offer.

 

Ekran System is a modern solution for your corporate network that enables independent providers monitoring. Being installed on server or workstation, Ekran Client records video of all logged in user screens and accompanying metadata like active application name, currently opened window title, keystrokes, etc. Try Ekran System now - manage remote vendors, mitigate the risks of non-compliance, and reduce costs.

 

In our White Paper block, you can find more details about the problem of third party vendors monitoring in banking sector and possible ways to solve it.

 

Read also about the cyber security awareness best practices.