What Is Managed Patching?

Patches are just improvements to existing software. Patching is the act of downloading and installing those improvements.

Managed patching simply takes it a step further by letting dedicated experts handle that process for you. They search for necessary patches, install them, and provide ongoing support through training, troubleshooting, and so on.

And patching is critical work that can’t be put aside. Security breaches are all too common, especially in the time of COVID-19. And most major breaches occur because of known exploits and vulnerabilities that weren’t properly patched.

Protecting your credit union and members starts with a robust security posture. Keeping patches current is key to maintaining that posture. Here are a few major things that patching helps with:

 

1.    Patching for security

Credit unions see a lot of personally identifiable information and financial data. You want to make sure that nobody else has access to that information.

According to www.darkreading.com, nearly 60% of organizations that suffered a data breach in the past two years cite as the culprit a known vulnerability for which they had not yet patched. Patching improves the security of programs, networks, and infrastructure.

So, one of the main purposes of patching is to ensure the security of your credit union, as well as the safety and privacy of your members.

 

2. Patching for compliance

The credit union industry is no stranger to strict regulatory requirements. You don’t just have to protect sensitive information because it’s the right thing to do—it’s also the law.

If you want to show your examiners and auditors that you’re taking privacy and security seriously, then you need to show them that you’re staying on top of patching. Examiners expect credit unions to have a robust patch policy, system, checklists, and proof that their systems are being patched consistently and intelligently.

 

3. Patching for performance

Patching is more than a way of fixing errors and bugs. It also improves performance. As often as patching adds compatibilities or features, it just as often speeds things up a bit.

No matter the reason, patching is an important consideration for performance.

 

Is Managed Patching Right for My Credit Union?

Patch management can be a large (and constant) job. Credit unions utilize massive amount of hardware and software. Individual programs or devices release occasional patches that quickly add up.

From operating systems to core systems, lending systems to collection systems, there’s plenty to keep track of. And a lot of things can break without methodical patching.

Unfortunately, credit union IT departments generally have a lot on their plates already. They don’t always have time to take care of the little things. It’s very easy to accidentally let a couple of patches slip through the cracks.

Then, the next thing you know, your auditor finds out. Or, even worse, you have a security issue.

Nobody wants to deal with that.

Managed patching might be right for your credit union if you…

• Have a short-staffed or overworked IT department
• Have a sizeable digital environment that requires constant vigilance with patches
• Have any compliance concerns or issues
• Want peace of mind when it comes to security
• Would prefer to keep your in-house operations staff focused on higher-level work

If any of the above sound like something that you’d be interested in, then a patch management service may be for you. However, if nothing above sounds like it fits your needs, then you may consider a DIY approach.

 

Additional Reading

Would you like to learn more about credit union IT and security issues? Follow our blog or read the links below!

Or, if you’d like to speak with an expert to see if managed patching is right for your credit union, simply fill out the form to the right.

Best Practices for Credit Union Patch Policy and Managed Patching

What Are the Basics of Managed Patching for Credit Unions?