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Regional Australia Bank

Regional Australia Bank is one of Australia’s leading Authorised Deposit Taking Institutions providing banking facilities to country New South Wales. It is the mission of Regional Australia Bank to be a premier banking alternative. For almost 50 years, Regional Australia Bank has developed a reputation for being flexible, personable and being able to make the complex simple.

When Regional Australia Bank started to grow their profile, one of the requirements was to ensure appropriate cybersecurity controls were in place. As such, Regional Australia Bank chose none other than Triskele Labs to assist them through a long-term journey.

As an Australian Prudential Regulatory Authority (APRA) regulated entity, Regional Australia Bank is required to comply with the APRA Prudential Standard, CPS234. Fortunately in mid-2017, the Chief Information Officer (CIO) had the vision to commence on uplifting cybersecurity across the organisation. Supported by the board, the IT team led by the CIO understood the level of risk facing a bank who retains both sensitive and financial information.

Regional Australia Bank

Regional Australia Bank is one of Australia’s leading Authorised Deposit Taking Institutions providing banking facilities to country New South Wales. It is the mission of Regional Australia Bank to be a premier banking alternative. For almost 50 years, Regional Australia Bank has developed a reputation for being flexible, personable and being able to make the complex simple.

When Regional Australia Bank started to grow their profile, one of the requirements was to ensure appropriate cybersecurity controls were in place. As such, Regional Australia Bank chose none other than Triskele Labs to assist them through a long-term journey.

As an Australian Prudential Regulatory Authority (APRA) regulated entity, Regional Australia Bank is required to comply with the APRA Prudential Standard, CPS234. Fortunately in mid-2017, the Chief Information Officer (CIO) had the vision to commence on uplifting cybersecurity across the organisation. Supported by the board, the IT team led by the CIO understood the level of risk facing a bank who retains both sensitive and financial information.

As the organisation did not have a dedicated cybersecurity resources, Regional Australia Bank engaged Triskele Labs to develop a 3-year strategy aligned with the NIST Cybersecurity Framework (CSF). This framework ensured that cybersecurity metrics could be developed and uplift could be observed across the 3-year period.

  • Increase the cybersecurity capabilities across the organisation
  • Develop a 3-year strategy appropriate for a mutual regional bank
  • Align controls with CPS234 requirements
  • Develop a 3-year strategy appropriate for a mutual regional bank

Working side by side with the CIO and his team, Triskele Labs developed this strategy to ensure it aligned with the strategic outcomes desired by Regional Australia Bank. A holistic approach was taken to ensure controls were implemented across the key domains of Identify, Protect, Detect, Respond and Recover. Importantly, the controls recommended were cost-effective and fit for purpose.

Based on the partnership approach during the strategy development, Regional Australia Bank engaged Triskele Labs throughout the strategy execution to implement a number of services and solutions including:

  • Monitoring & Detection
  • Security Testing
  • PCI Compliance
  • Executive Reporting
  • Ongoing CISO Advisory

The early development of the cybersecurity strategy allowed Regional Australia Bank the confidence to be extremely well placed when APRA released the final version of CPS234. Over 85% of the controls were already implemented or planned, and Regional Australia Bank was able to continue Business as Usual without stressing about additional compliance requirements. By partnering with Triskele Labs, Regional Australia Bank received the power of a full cybersecurity team for a fraction of the investment.