Mortgage Workspace Blog

Why Continual Monitoring Is the Key to Staying Ahead in Today’s Cyber Warfare

Written by Justin Kirsch | Nov 12, 2024 11:58:02 PM

In the fast-paced world of mortgage lending, cybersecurity threats are growing at an alarming rate. Mortgage companies are prime targets due to the wealth of sensitive information they handle—client financial records, personal data, and confidential business details. In a landscape where attackers constantly evolve their tactics, relying on periodic security checks or a high Microsoft Secure Score alone is no longer enough. Your organization must embrace continual monitoring, proactive assessments, and actionable insights to stay protected.

The Escalating Cyber Threat Landscape

Cybercrime is on the rise, and mortgage companies are facing unprecedented risks:

  • In 2023, cyber attacks targeting financial institutions increased by 38%, with a significant portion aimed at mortgage companies handling sensitive client data.
  • 60% of small-to-medium-sized financial firms have reported at least one data breach in the past year, and the average cost in the U.S. reached $9.44 million.
  • Attackers are leveraging increasingly sophisticated methods, from phishing and ransomware to exploiting gaps in Multi-Factor Authentication (MFA) coverage and exploiting stale or unmanaged accounts.

In this high-stakes environment, the question isn’t if you’ll be targeted—but when. Without consistent monitoring and timely action, your company is left vulnerable to breaches that can lead to devastating financial losses and irreparable damage to your reputation.

Why Traditional Security Measures Aren’t Enough

Many mortgage companies use tools like the Microsoft Secure Score to gauge their security posture. While a high Secure Score can indicate good compliance with Microsoft’s baseline recommendations, it often fails to capture more profound risks:

  • Incomplete MFA Coverage: Microsoft’s standard MFA lists may show that a policy is applied, but they don’t reveal if users have failed to complete MFA registration. This false sense of security can leave your organization exposed to unauthorized access.
  • Stale Accounts and Unmanaged Devices: Inactive accounts and devices not enrolled in management systems like Intune are prime targets for attackers. Standard reporting often overlooks these gaps, leaving your environment with a hidden vulnerability.
  • Complex Menus and Manual Checks: IT teams spend hours digging through complex Microsoft Security menus and writing scripts to get a snapshot of their security status. This manual approach is time-consuming, error-prone, and unsustainable as threats continue escalating.

The Solution: Continual Monitoring with Guardian Security Insights

Guardian Security Insights was explicitly designed to address these gaps, providing mortgage companies with a comprehensive, automated solution beyond traditional tools' limitations. Here’s how our product helps you stay vigilant:

1. Regular, Automated Assessments

Instead of relying on periodic manual checks, Guardian Security Insights pulls data from your Microsoft 365 tenancy every night. This automated process ensures you always have the latest information on your security posture without needing complex scripts or manual intervention.

2. Actionable To-Do Lists for IT Teams

Our BI-style reports translate complex data into straightforward, prioritized tasks. Whether it’s identifying users who haven’t registered for MFA, flagging stale accounts, or detecting unmanaged devices, Guardian Security Insights gives your IT team a precise action plan to address vulnerabilities quickly and efficiently.

3. Deeper MFA Compliance Analysis

Standard MFA lists from Microsoft may indicate that users are protected, but our solution digs deeper. We identify users who appear to have MFA enabled but haven’t completed the registration process—uncovering genuine at-risk users that would otherwise go unnoticed.

4. Executive-Friendly Reporting

Communicating cybersecurity progress to leadership can be challenging. Our easy-to-understand monthly management reports bridge the gap between IT and executives, clearly summarizing actions taken and addressing vulnerabilities and areas needing attention. This transparency fosters a culture of accountability and empowers leadership to make informed decisions about resource allocation.

5. Historical Trend Analysis

One of the biggest challenges in cybersecurity is demonstrating progress over time. Guardian Security Insights provides historical trend reports that show how your security posture has improved, helping you prove the impact of your efforts and justify future investments in security initiatives.

Case Study: Mason-McDuffie Mortgage’s Transformation with Guardian Security Insights

Mason-McDuffie Mortgage (MasonMac) faced significant cybersecurity challenges when it first implemented Microsoft 365. Its Secure Score was only 32%, reflecting numerous vulnerabilities and gaps in its security posture. Manual checks and complex scripts overwhelmed its IT team, leading to missed issues like incomplete MFA registrations and unmanaged devices.

After implementing Guardian Security Insights, MasonMac saw a remarkable turnaround:

  • Their Secure Score improved from 32% to over 90% within six months.
  • The IT team identified and resolved critical gaps, such as users who hadn’t completed MFA registration, closing significant security vulnerabilities.
  • Monthly executive reports provided clear visibility into progress, helping leadership understand the importance of ongoing monitoring and justify additional investments in cybersecurity.

Clinton Weyland, VP of IT at MasonMac, shared his experience: “Guardian Security Insights gave us the visibility and insights we needed to make informed decisions quickly. The continual monitoring and regular reports were game-changers for our IT team and leadership.”

The Stakes Have Never Been Higher: Why You Need to Act Now

Cyber threats are becoming more sophisticated yearly, and mortgage companies are on the front lines. The cost of inaction can be devastating, from financial losses and compliance penalties to the erosion of client trust. To stay ahead, you need a solution that offers more than just a snapshot of your security posture—you need a tool that provides continual monitoring, clear action plans, and a comprehensive view of your risks.

Ready to Strengthen Your Cybersecurity Posture?

Guardian Security Insights offers a robust, data-driven approach to keeping your organization safe. With automated assessments, actionable insights, and easy-to-understand reports, you’ll have everything you need to stay vigilant in an increasingly hostile cyber environment.

Take Action Now:

  • Start Your Free 14-Day Trial: Experience the full capabilities of Guardian Security Insights with no risk.
  • Talk to an Expert: Schedule a demo and see how our solution can transform your cybersecurity strategy.
  • Take the Security Health Check Quiz: Assess your current security posture and receive a customized report with actionable recommendations.

Want to Learn More?
Read the Full Case Study on How Mason-McDuffie Mortgage Boosted Their Secure Score by Over 60%" (Link to the PDF case study)