Press Releases

AlgoSec Launches Automated Basel II Compliance Report; Promotes Greater Regulatory Oversight for Banking Industry

Audit-ready Basel II reports save time, labor and ensure firewall compliance

April 07, 2009



Reston, VA – AlgoSec, the leading provider of Firewall Operations and Security Risk Management solutions, today announced that it has developed a solution to help in compliance with Basel II. The audit-ready Basel II report further bolsters AlgoSec’s regulation and compliance solutions which also include out-of-the-box compliance reports for ISO 27001, PCI DSS and SOX.

A revision to the original 1988 international bank capital accord (Basel I), Basel II is focused on improving the consistency of capital regulations internationally, making regulatory capital more risk sensitive, and promoting enhanced risk-management practices among large, internationally active banking organizations. Out-of-the-box reports that specifically address these attributes, and are part of a larger firewall operations and security risk management solution, are vital to enterprise networks which contain and communicate sensitive banking data.

The latest turnkey offering enhances the AlgoSec Firewall Analyzer (AFA) product suite, which helps users automate complex and time-consuming aspects of firewall, router and VPN administration. Streamlining operations, reducing risk and ensuring adherence with industry and corporate regulations, AlgoSec’s firewall and VPN analysis software solutions work across all available platforms from the leading three enterprise firewall vendors: Cisco, Check Point and Juniper/NetScreen.

“At AlgoSec we strive to intelligently automate what were traditionally manual, labor- and time-intensive tasks surrounding firewall compliance and administration. As part of this we have created audit-ready reports for key government and industry mandated standards. Our latest out-of-the-box report for Basel II does just that – automatically analyzes the firewall configuration relative to the standard’s requirements. Our reports, which also include turnkey solutions for PCI, SOX and ISO27001, offer a comprehensive solution that provide organizations with significantly faster turnaround, a higher accuracy rate and adherence to each standard’s major technical requirement,” said Dr. Avishai Wool, AlgoSec CTO and co-founder.

The AlgoSec Basel II compliance report precisely follows the reporting requirements of the standard based on Cobit. The compliance report answers the requirements that apply to an organization’s firewalls – which are a central part of any organization’s Information Security Management System (ISMS).

For more information on Basel II, ISO, PCI DSS and SOX compliance and to view screenshots and sample reports please visit: https://www.algosec.com/en/solutions/security_compliance.php

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