CC Pace and RiskWatch Team Up to Offer Risk Analysis
ANNAPOLIS, Md., April 10, 2006 -- CC Pace and RiskWatch,
Inc. announced today that they have reached an agreement
with the CC Pace Retail Banking Division to distribute its
RiskWatch for Financial Institutions(C) software and use it
as part of their consulting solution set.
RiskWatch recently released a new updated version of
RiskWatch for Financial Institutions software which allows
organizations to do a self-assessment against the FFIEC
(Federal Financial Institutions Examination Council)
guidelines. The software also assists organizations to do
self-assessments compliance with requirements such as the
FFIEC IT Framework, the Gramm-Leach Bliley Act (GLBA), the
HIPAA Final Security Rule, the ISO 17799-2005 and 27001, SB
1386 (Identity Theft), and the PCI (Payment Card Industry)
standards.
"RiskWatch is the only software that is completely
customized to meet the new FFIEC guidelines for risk
analysis of Internet authentication systems, as well as meet
the ever-present requirements for GLBA compliance,"
commented Ed Neumann, Managing Director of CC Pace's Retail
Banking Division.
According to a recent study conducted by AMR Research, about
$6 billion or 22 percent of all compliance spending this
year will reflect efforts by companies to become compliant
with the FFIEC requirements, as well as regulations related
to the Sarbanes-Oxley Act. Compliance spending is likely to
continue upward in 2007, reaching about $28 billion.
The FFIEC now requires a full information security risk
assessment, including the analysis of the matrix between
threats and vulnerabilities, as well as cost benefit
analysis and return on investment detail, from every bank in
the United States by December 2006.
CC Pace is one of the leading technology consultants to the
mortgage industry, providing consulting services to a
diverse group of other financial services clients including
mortgage originators and servicers, retail and commercial
banks, regulatory agencies, GSEs, venture capital firms, and
brokerage firms. They specialize in serving the changing
business and technology needs of the financial services
industry and specialize in providing the technology services
that are the most valuable to their clients.
RiskWatch(TM) is the top-rated provider of innovative
security risk assessment and compliance software that
automates the risk management process. RiskWatch clients
include ISS, IBM, Metris, U.S. Federal Agencies, Carolina
First, Keystone Bank, Pfizer, Abbott Labs, Constellation
Energy, Baptist Hospitals and many more.
For more information, contact:
Caroline Hamilton, RiskWatch, Inc.
Annapolis, Maryland
(410) 224-4773, x105
chamilton@riskwatch.com
http://www.riskwatch.com
Ed Neumann, CC Pace
Fairfax, Virginia
(703) 631-6600
Ed.Neumann@ccpace.com
