The 3 Lines of Defense is a widely adopted model by financial institutions for risk management, including GRC for financial services. Existing operations in the 2nd line of defense face significant challenges when reliant on human workflows that provide limited visibility into the state of the 1st defense line. Without the ability to independently and continuously assess the operational state and effectiveness of 1st line point solutions, GRC teams struggle with delayed responses to emerging risks and potential inaccuracies due to human error. Today, financial institutions have to compromise on a reactive, rather than a proactive, approach when managing their risks.
With Anecdotes, the second line of defense has the capability to collect and scrutinize data from 1st line point-solutions, empowering GRC for financial Services. This enables continuous assessment of the effectiveness of the 1st line, as well as the identification and response to shifts in the financial institution's risk landscape. Our modern approach and solution to GRC better equip organizations to handle the complexities of Security, IT, and Privacy related financial risks through a proactive 2nd line of defense.
With Anecdotes we have true continuous compliance. We are able to identify control effectiveness and to demonstrate to both leadership and customers the status of our maturing security program.