Global Loan Agency Services Ltd Meet All Advisory & Mandatory Swift CSP Controls

Challenges

• There were significant changes to the Swift Customer Security Programme (CSP) in 2021, including the introduction of a mandatory independent assessment.
• GLAS needed an independent assessor to complete the assessment and provide guidance to ensure all mandatory and advisory controls were met whilst minimising the impact of the additional workload on the internal team.

Solution

• With existing knowledge of GLAS’ Swift environment, Bottomline and their Swift cyber security partner were chosen as the independent assessors.
• A pre-attestation was completed to assess current CSP compliance status - this helped to identify any potential issues ahead of the full attestation submission and allocate resources efficiently.

Results

With the recommendations from the pre-attestation, GLAS were able to complete the attestation seamlessly and submit the independent assessment ahead of the deadline.

As the CSP continues to evolve, with new 2022 controls, GLAS have a better understanding of the framework, how to remain compliant and keep their Swift environment secure, whilst receiving ongoing support from Bottomline.

“Bottomline’s SWIFT CSP Independent Assessment gave us reassurance that we would meet all advisory and mandatory controls and provided us with a deeper understanding of the framework. As the programme continues to evolve, we will continue to partner with Bottomline to ensure GLAS remains compliant and our SWIFT environment is secure now and in the future.”

Stuart Draper, Chief Operating Officer, GLAS