NetConnect 2023 – A Glimpse into the Future of Technology and Compliance
Safe Systems hosted its 2023 NetConnect Customer User Conference last month in Alpharetta, GA. After taking a hiatus due to the pandemic, Safe Systems customers, employees, and partners were eager to reconvene to discuss the latest trends, challenges, and innovations. This year’s conference provided insights into the evolution of banking and the critical role technology plays in shaping the industry’s future.
Here are some key highlights and insights shared at this year’s conference.
Celebrating 30 Years of Excellence
NetConnect 2023 marked the 30th anniversary of Safe Systems’ journey in the banking technology landscape. The conference began by reflecting on the early days when our services primarily focused on PC and network policies, network installations, and troubleshooting. Safe Systems highlighted that our evolution and growth were driven by customer feedback and collaboration. Customers have always been the cornerstone of our success.
Keynote speaker Dr. Randy Ross
The Power of Hope in Business
Keynote speaker, Dr. Randy Ross, shared insights on the importance of hope in the workplace. Hope is not merely wishful thinking or passive optimism; it’s a dynamic motivational system tied to inspirational goal setting. The case for hope in business was backed by impressive statistics, including lower absenteeism, increased productivity, and enhanced morale and creativity. Dr. Ross also provided guidelines on how anyone can apply hope to make life happier, healthier, and more productive.
Regulatory Compliance in a Changing Landscape
Tom Hinkel, VP of Compliance Services, delved into the dynamic world of regulatory compliance. He discussed the latest statistics, including a surge in cyber insurance claims due to zero-day attacks and ransomware. Regulatory changes like third-party risk management (TPRM) guidance and FDIC InTREx updates were highlighted. The session also touched on the cyber incident notification rules approved by the Federal Deposit Insurance Corporation (FDIC), Federal Reserve, and Office of the Comptroller of the Currency (OCC) in 2022 and the Conference of State Bank Supervisors (CSBS) updated R-SAT 2.0 (Ransomware Self-Assessment Tool).
Brian Brannon, VP of Security Product Strategy, and James Minstretta, Endpoint Security Engineer, doing a live demo of Azure vulnerability settings.
Security and Vulnerability Management
Brian Brannon, VP of Security Product Strategy, addressed the critical topic of vulnerability management. He explained the proactive strategy of identifying, assessing, and mitigating network weaknesses, aligning it with the expectations of regulators. The session included a live demo to demonstrate the importance of effective vulnerability management.
Azure Security 101
Our Microsoft 365 Certified Technology DevOps Engineer took a deep dive into Azure fundamentals, including Entra ID, M365, and Resource Subscriptions. He explored how to mitigate risks using Conditional Access Policies, enabling multi-factor authentication (MFA), limiting geographic locations, and more. The session included interactive labs of the Entra ID Admin Center, SharePoint Online, and OneDrive to allow attendees to explore logs, manage settings, and review reports firsthand.
Panel Discussion on Regulatory Changes
The conference concluded with a panel of auditors and regulatory compliance specialists, who discussed topics such as the increasing importance of cyber insurance, the impact of AI on exams and audits, and third-party risk management. Attendees had the opportunity to ask questions and engage with experts on these vital topics.
Safe Systems’ former VP of Compliance Services Tom Hinkel hosting a panel of compliance experts that included Senior Compliance Specialist Paige Hembree (Safe Systems), Financial and Information Security Auditor Matthew Jones (Symphona), Wipfli’s Senior Manager Jim Rumpf, and Director for Supervision Kevin Vaughn (Georgia Department of Banking and Finance)
NetConnect 2023 offered a comprehensive overview of the current state and future prospects of banking technology and regulatory compliance. The industry continues to evolve, and staying informed and adaptable is key to success in this ever-changing landscape. Safe Systems remains committed to supporting financial institutions on their journey, as demonstrated by our 30 years of excellence and our forward-looking approach to technology and compliance.