Overseas Outsourcing Risks

Advantages of Working with Mahalo Banking and Mitigating Overseas Outsourcing Security Risks

Heightened Data Security

Working with Mahalo Banking provides a higher level of data security compared to organizations that may use overseas development outsourcing. With Mahalo Banking's in-house development team, we can better control access to sensitive data, reducing the risk of data breaches and unauthorized modifications. Mahalo Banking implements robust security measures, such as encryption, access controls, and strict code review processes, to mitigate the potential for malicious modifications through the supply chain.

Enhanced Intellectual Property Protection

Outsourcing development can expose organizations to the risk of intellectual property theft and unauthorized modifications to the source code. Collaborating with Mahalo Banking mitigates these risks as Mahalo retains complete control over our proprietary information and trade secrets. Mahalo Banking maintains stringent measures to protect intellectual property, such as strong access controls, source code encryption, and regular code audits, thereby reducing the potential for unauthorized modifications through the supply chain.

Reduced Supply Chain Attack Surface

Supply chain attacks often exploit vulnerabilities introduced through third-party involvement in the development process. By choosing to work with Mahalo Banking, credit unions can minimize the number of external entities involved in the software supply chain. This reduction in the supply chain attack surface decreases the likelihood of malicious actors gaining access to source code and making unauthorized modifications that could ultimately be pushed out to the credit union and or their members.

Direct Oversight and Control

Mahalo Banking maintains direct oversight and control over the entire software development lifecycle. This direct involvement enables credit unions to implement robust security practices, conduct thorough background checks on employees, and enforce strict security protocols throughout the development process. By ensuring end-to-end security control, Mahalo Banking helps credit unions reduce and mitigate potential vulnerabilities that could be exploited in a supply chain attack.

Agile Security Practices and Continuous Monitoring

Mahalo Banking's in-house development team implements agile security practices and continuous monitoring, crucial for preventing supply chain attacks. Leveraging their deep understanding of the supported vendor cores, Mahalo’s experts proactively identify and address potential vulnerabilities. Regular security assessments, penetration testing, and code reviews enable continual review of the software supply chain.

Strengthened Organizational Culture and Awareness

Mahalo Banking fosters a strong organizational culture centered around cybersecurity. By collaborating with Mahalo Banking, credit unions can benefit from Mahalo's commitment to instilling best practices, conducting regular security training, and creating a sense of ownership and responsibility among employees. This heightened awareness of cybersecurity throughout the organization acts as an additional layer of defense against potential supply chain attacks by enabling the identification and reporting of any suspicious activities.

Understanding the Risks

1. Data Security Concerns: Relying on software developed overseas exposes companies to potential data security vulnerabilities. Overseas outsourced development companies may not adhere to the same stringent data protection measures, security protocols, or privacy regulations as domestic counterparts. This increases the risk of data breaches, unauthorized access to sensitive information, and potential leakage of confidential data.
2. Intellectual Property Theft: Outsourcing software development overseas raises concerns about the protection of intellectual property. Companies face the risk of their proprietary information, source code, or trade secrets being compromised or stolen. Unauthorized access to sensitive intellectual property can lead to reputational damage, financial losses, or the release of vulnerable software to customers.
3. Supply Chain Attacks: One significant cybersecurity risk associated with overseas outsourced development is the potential for supply chain attacks. In such attacks, malicious actors exploit vulnerabilities introduced through third-party involvement in the development process. By gaining access to the source code, these actors can inject malicious code or make unauthorized modifications that are then distributed to customers, compromising their systems and data.

Collaborating with Mahalo Banking, a non-outsourced development company, offers distinct advantages in mitigating cybersecurity risks and addressing the potential for supply chain attacks compared to outsourcing. By partnering with Mahalo’s in-house development team, credit unions can benefit from heightened data security, enhanced intellectual property protection, reduced supply chain attack surface, direct oversight and control, agile security practices, continuous monitoring, and strengthened organizational culture and awareness. These advantages contribute to a more robust and resilient cybersecurity posture, safeguarding critical assets and protecting credit unions from potential cyber threats and supply chain attacks.