Understand the identity ecosystem
By unraveling legacy IT systems, you can build stronger networks.
Replacing manual identity validation with artificial intelligence and machine learning puts credit unions in a better position to fight data breaches.
Information technology (IT) teams at credit unions are commonly under-resourced with human capital, said Robert Johnston, CEO, Adlumin.
Some IT departments may not have staff with a full focus on security, he said, which makes it challenging to face complex compliance standards.
“I don’t find a lot of information about credit unions being hacked,” said Adlumin Senior Vice President Tim Evans. “But you guys get stuck with the bill,” referring to Target’s massive 2013 data breach that cost credit unions nearly $31 million according to CUNA research.
A single account on a third party’s system often is the doorway to a data breach, Johnston said. A trusted user opens a phishing email, and the hacker gets in “through the weakest link.”