Frequently Asked Questions

A new capabilities development based platform designed with Community-Based Financial Institutions (CBFIs) to address their unique cybersecurity challenges.  Offered by a 501c3, and registered ISAO, FinCyberNet is a shared resource to augment existing industry relationships and enhance resilience and maturity via focused:

• Awareness Capabilities: regionally focused intel sharing, alerts, and RFIs
• Assessment Support: monthly vulnerability scans, quarterly benchmarks, and a CEO Dashboard to monitor progress
• Collaboration Options: role and topic specific COIs/SIGs/Councils
• Education Programs: quarterly benchmark reviews, bi-annual incident response exercises, annual "State of the States" Symposium

FinCyberNet was created to address the challenges faced by CBFis in effectively managing and mitigating cyber threats. It aims to provide a collaborative platform where CBFIs can access specialized cybersecurity expertise, share best practices, and collectively strengthen their cybersecurity defenses. By pooling resources and knowledge, FinCyberNet empowers community-based banks, credit unions, and S&Ls with $1B or less in assets to enhance their cybersecurity posture and navigate the evolving threat landscape more effectively.  This initiative is sponsored by  CMBR a 501c3 and registered ISAO dedicated to finding ways to address the lack of customized support for this vital segment of the financial system.  As a part of continually updating our offerings, we also conduct the only comprehensive CBFI National Cyber Security Survey that can be used to inform and benchmark a variety of the decisions your firm faces every day.

FinCyberNet follows a governance model that prioritizes the interests  and needs of CBFIs. The governance structure consists of three tiers: State Readiness Councils, Regional Resilience Councils, and National Collective Defense Council. These councils are composed of representatives from participating FIs who actively contribute to shaping the focus and  agenda of FinCyberNet. Governance policies and procedures ensure  transparency, inclusivity, and accountability in decision-making  processes. The governance model allows for local participation,  community-driven initiatives, and coordination at a national level. 

By addressing the challenges faced by CBFIs, providing a one-stop-shop for a comprehensive suite of offerings, and scaling down and curating information sharing requirements, FinCyberNet's approach differentiates itself from prior attempts. More importantly it is not just about curated content and assessment tools, its about helping CBFIs implement a capability maturity management program focused on their needs and challenges.  The platform is designed to help CBFIs get the information they want from existing trade and industry groups, while at the same time allowing them to augment their needs to: help measure and improve their cyber resilience and maturity; connect directly with their peers in their state and regional cyber communities; and, work together to design and deliver hygiene focused education and awareness webinars and resources.  Finally, the focus on FIs with $1 billion or less in assets significantly reduces the cost and complexity of delivering the intended benefits, while the scaled-down information sharing empowers and supports more active and effective participation by CBFIs - which in turn will significantly enhance their cybersecurity capabilities.

Signing up for FinCyberNet is a straightforward process. Eligible FIs,  with assets of $10 billion or less, can contact us directly for the details.  Once the  registration process is complete, subscribers will start receiving their monthly vulnerability scans, and be included in all other offerings going forward.  By subscribing, CBFIs gain access to an integrated  suite of cybersecurity services, including threat intelligence, risk benchmarking, collaborative forums, and expert guidance. It's an opportunity to become part of a vibrant community  dedicated to addressing the unique cybersecurity challenges faced by CBFIs. 

There are 3 ways to support our mission - and you can contact us for more details:

Subscribers -  Financial institutions (e.g. banks, credit unions, savings & loans) with assets of $10 billion or less (CBFIs) can become Subscribers for a low flat fee. Subscribers are the only Tier that can access all offerings, as well as Chair COIs or Councils. 

Benefactors -  Any firm supporting our mission can become a Benefactor by offering to fund research, provide free support services, or help sponsor FIs who would like to get more involved. Benefactors gain recognition for their support and contribute to the success of FinCyberNet. 

Collaborators -  Trade and industry groups that desire to support outreach and participate in our events can become collaborators. They play a crucial role in promoting our mission and engaging with the financial community. 

To help demonstrate our commitment to their efforts and help localize our working groups and councils we thought it would be helpful to align our activities to support those of the Federal Home Loan Banks (FHLBs).  We believe their are a number of benefits that the 6,500 institutions that are members of the FHLBs can get from subscribing to FinCyberNet:

1. Enhanced Cybersecurity: Cybersecurity is a critical concern for financial institutions, and the threat landscape is constantly evolving. By subscribing to FinCyberNet, FHLB member firms can access comprehensive threat intelligence, risk benchmarking, and cybersecurity best practices tailored to the needs of smaller financial institutions. This will help them strengthen their cybersecurity defenses and protect their sensitive data, customer information, and financial assets from cyber threats.
2. Improved Risk Management: With the increasing complexity of cyber threats, having access to a curated threat intelligence service like FinCyberNet can significantly enhance risk management capabilities for FHLB members. The platform provides real-time insights into emerging cyber risks and helps banks proactively address vulnerabilities and potential threats.
3. Cost-Effective Solutions: Subscribing to FinCyberNet can provide cost-effective solutions, especially for smaller institutions with limited resources. Instead of investing in building and maintaining an in-house cybersecurity team and infrastructure, banks can leverage FinCyberNet's platfrom to access peers and experts to bolster their cybersecurity posture.
4. Community Collaboration: FinCyberNet offers a federated governance model that empowers  CBFIs to collaborate and share cybersecurity insights and strategies. By working together through FinCyberNet, these banks can collectively address common cybersecurity challenges faced by smaller financial institutions and benefit from the power of a unified, collective defense network.
5. Regulatory Compliance: As cybersecurity regulations and requirements continue to evolve, it becomes increasingly important for financial institutions to stay compliant. FinCyberNet provides access to guidance and resources, helping CBFIs adhere to industry best practices and meet regulatory obligations, ensuring a safer and more secure financial ecosystem.
6. Access to Expertise: FinCyberNet offers a specialized focus on the needs of community based financial institutions, providing tailored insights and expertise to address their unique challenges. By subscribing to the platform, FHLB member firms gain access to a wealth of knowledge and resources specifically curated to support their cybersecurity needs.

Overall, by collaborating with FHLBs members we hope to foster a safer and more resilient financial ecosystem, where smaller financial institutions can better defend against cyber threats, enhance risk management practices, and promote collaborative efforts to address cybersecurity challenges.