Empowering Understaffed Security Teams to
Reach the SaaS Security Bar Before the April
25 Regulatory Deadline
SAN
JOSE, Calif., April 23,
2024 /PRNewswire/ -- Wing Security, the leader in
SaaS Security, today announced that its SaaS security product
is specifically designed to help financial firms and covered
entities comply with the stringent NY-DFS regulations that mandate
robust cybersecurity measures for SaaS applications in New York State.
Wing Security's product offers a 24/7 protection framework for
SaaS applications, enabling easy deployment and requiring less than
two hours of labor weekly. This efficiency enables organizations to
continuously meet the risk mitigations and requirements for
SaaS/third-party usage specified by the New York Department of
Financial Services (NY-DFS) new regulation, saving hundreds of
hours of labor and ensuring the highest security standards for
their SaaS supply chain's usage.
In November 2023, the NY-DFS
revised its regulations to mandate more robust controls against
cyberattacks, targeting the protection of sensitive services. In a
recent training video, Harriet
Pearsons, Executive Deputy Superintendent and Cybersecurity
Division Head at NY-DFS, highlighted supply chain attacks as one of
the key reasons for these amendments in the department's
instructional materials.
NY-DFS recommendations align with Wing Security's State of
SaaS Security Report 2024, which revealed that nearly all companies
use SaaS suppliers, with 97% of these businesses using at least one
SaaS supplier experiencing a security event over the last 12
months. Aligned with NY-DFS recommendations, the report underscores
the urgency for improved SaaS protection against nation state
actors and other high-level threats, noting the commonplace
adoption of more than 300,000 SaaS applications without adequate
security measures by organizations.
"Wing Security aims to assist businesses, particularly those
with understaffed security teams, in elevating their SaaS supply
chain security to match the exemplary practices endorsed by
New York State," said Galit Lubetzky Sharon, CEO of Wing Security.
"Private sector businesses and public sector regulators have a
joint responsibility to safeguard our critical infrastructure and
economy through SaaS security best practices."
Wing Security's SaaS security product suite fulfills crucial
requirements by automatically identifying SaaS applications used by
covered entities and their employees, conducting risk and
compliance assessments of suppliers, evaluating data shared via
SaaS, and determining if third parties are using non-public entity
data to train their AI systems. The Wing Security solution ensures
that chief information security officers (CISOs) are automatically
implementing security policies based on risk assessments, verifying
necessary user access to SaaS applications, and monitoring for
sensitive data leakage. Additionally, Wing Security facilitates
compliance with the obligation to promptly notify CISOs of breaches
and security incidents affecting their SaaS supply chains. Wing
Security's new SaaS reporting, based on the MITRE common
weakness scoring system (CWSS) risk scoring, provides auditable
evidence to support the ongoing risk management of these complex
supply chains.
Wing Security serves businesses of all sizes, including large,
mid-market, and exempt small businesses, offering product tiers
that match their risk levels and budgetary constraints. Exempt
customers can begin with Wing Security's Free Risk Discovery Tool
for Third-Party Risk Management (TPRM) assessments connected to
their primary SaaS platforms. For more information about Wing
Security's SaaS product tiers,
visit https://wing.security/.
About Wing Security
Wing Security is a leading provider of SaaS Security solutions,
offering unparalleled visibility, control and automated remediation
capabilities for cloud applications. Trusted by businesses
worldwide, Wing Security ensures the safest and most efficient
deployment and use of SaaS applications, addressing the evolving
security challenges in today's digital landscape. For more
information, visit https://wing.security/.
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SOURCE Wing Security