Author Archives: Megan Carnes

All eyes are on the Cloud in the financial industry as adoption is on the rise, with 83% of financial services companies using the public Cloud in some form. The forecast is calling for more Cloud activity in the near future, with 91% of banking and finance companies stating they either currently use Cloud services or plan to in the next 6 to 9 months, according to a Cloud Security Alliance report.

The Cloud is helping financial and banking companies reduce costs, drive innovation, improve security and improve the customer experience. But that’s not all. The rolling thunder of the booming Cloud movement has resulted in companies, like Thrive, redefining the industry with an out-of-the-box approach to optimizing and securing tech infrastructure to meet company and consumer demand.

However, the sun doesn’t always shine in the Cloud. Financial services companies are prime targets for cyber attackers. Ransomware, threats and vulnerabilities are on the rise, which requires a secure, compliant and strategic game plan to take their business to new altitudes with trusted partners.

The Cloud era promises greater business agility, scalability, and responsiveness, but one size does not fit all when it comes to choosing a Cloud platform that best meets your business and financial objectives.

In financial services, performance, cost, security and regulatory demands drive decisions for where financial applications and data should reside. This often leads to some confusion around how financial regulatory frameworks apply to Cloud services and whose responsibility it is to meet those requirements. This is where Thrive shines. We design, build and support the ideal Cloud solution that meets your business needs and budget.

Take your financial services business Cloud services to new heights with Thrive.

1. Improve Security & Resiliency

Security is top of mind for financial services firms. That’s why Thrive delivers best-in-class security platforms to provide a multi-layer defense to protect data and end users from advanced threats. A fully redundant and resilient Cloud architecture by Thrive ensures your financial business operates at the highest levels of availability and performance. Thrive Cybersecurity solutions are secured by NextGen Unified Threat Management Firewall platforms, SOC/ SIEM and Distributed Denial of Service (DDoS) detection and mitigation. Thrive puts financial services companies at ease by continuously monitoring and auto-remediating access risks.

2. Enhance Compliance

Financial institutions are bound by stringent compliance and regulatory standards while operating their Cloud infrastructure and configuration. System and regulatory requirements demand that organizations log, monitor, analyze and report on their data as it passes through a complex network of IT infrastructure and applications. To ensure security and mitigate risk, as well as meet regulatory requirements, financial services organizations need a comprehensive Security Incident and Event Management (SIEM) solution. That’s why Thrive has developed SIEM-as-a-Service (SIEMaaS) that scales with budgets, can flexibly meet changing demands, and provides clear and actionable information.

Our Cloud engineering team has the ability to design, build, and support the Cloud solution that best meets the needs and regulatory requirements of your specific business. Thrive serves as a comprehensive tool to monitor and manage regulatory compliance with SEC, FINRA, SIPC, MSRB and NFA. Thrive’s private Cloud platform also delivers Enterprise-grade service from multiple SSAE 16 SOC 2 data centers.

3. Control Costs

We understand the uncertainty and costly infrastructure needed to keep financial services companies competitive and secure in the Cloud. Our team of experts eliminates the ambiguity and surprises around hardware, software and maintenance expenses. Thrive streamlines operating budgets, avoids expensive and cumbersome maintenance and supports renewal agreements. For example, Thrive ensures teams are using the right services without overlap, consistently tracks and right-sizes your cloud resources, avoids costly data breaches, implements productivity tools and customizes invoicing to eliminate unnecessary expenses.

4. Reduce IT Strain

Remote work and digital transformation have spiked the need for Cloud security professionals. However, financial companies are struggling to fill the demand for experienced and Cloud-proficient employees that can build, maintain, innovate and secure Cloud environments. The lack of available talent puts security at risk with inexperienced people overseeing Cloud security and handling threats and vulnerabilities. Solve your talent gap challenge by tapping into Thrive’s team of Cloud and security experts, trusted by top financial organizations, including large hedge funds, financial services companies and regional banks.

5. Gain More Flexibility and Visibility

Thrive’s NextGen Cloud services allow financial services companies to access applications seamlessly and securely from anywhere. Organizations can easily add or remove resources as their business requirements change. With Thrive’s multiple Cloud platforms, financial customers can optimize performance and cost – all managed by Thrive’s expert team of Cloud engineers.

As organizations deploy multi-Cloud infrastructure, gaining governance over all components becomes even more challenging. Thrive delivers a comprehensive Cloud security solution with the required visibility for all of your Cloud operations, compliance and workflow into one single pane.

Click here to contact the Thrive team today to solve and manage the customized Cloud needs of your financial services organization.

In this Help Net Security video, Chip Gibbons, CISO at Thrive, illustrates the differences between a business continuity plan and a disaster recovery plan.

Cybersecurity has fundamentally altered the security landscape of financial institutions. Of the very many threats and tactics, Business Email Compromises are the most common and the most compromising. Banks and financial institutions, now more than ever, need to implement habitual practices to strengthen their cyber defense against BEC, before it is too late.

“When important systems become unavailable due to infrastructure failure, human error, or a security breach, it can lead to unaffordable business interruption,” said Chip Gibbons, CISO, Thrive, a provider of managed services.

“The best way to ensure an organization is prepared is to have business continuity and disaster recovery plans on hand.”

Welcome back to another installment of our “Thrive Spotlight” blog series.

Our featured Thrive Employee is Patrick Ramsdell, vCISO and Cybersecurity Consultant at Thrive.

Patrick is primarily focused on acting as a trusted advisor to help his clients navigate the complexities of cybersecurity, compliance, technology and how they all fit together.

Patrick lives in Peabody, Massachusetts, which is about 20 minutes north of Boston (when there’s no traffic). He loves to travel and spend time with his family, including his two small boys who keep him very busy in Maine, Vermont and Costa Rica.

Hi Patrick! Can you tell us about your background and how you came to Thrive?

I worked at Tier1Net for almost exactly seven years before we were acquired by Thrive. I started on the helpdesk, got my chops as the onsite engineer for several years, and then started on strategic reviews of our clients’ networks and infrastructures. I’ve recently moved to Thrive’s vCISO team, where I have the opportunity to help our client’s meet their cybersecurity and compliance goals.

Where did you go to school or get training?

I actually didn’t go to school for IT. However, I worked on my high school’s ‘tech team’ and university’s IT help desk, and of course my time at the previous MSP. I’ll tell anyone coming up through the ranks: there is no better way to learn than being on a helpdesk and onsite with clients – the experience of having to think quickly is invaluable as your career grows. I received my CISSP certification in 2020 and am working towards my CISM.

What do you most enjoy about working for Thrive?

Coming from a smaller MSP, I really enjoy being able to introduce truly enterprise-grade solutions to my clients. With so many of them focused on cybersecurity and compliance, having solutions of such a high caliber is very valuable to them.

Any recent exciting projects at Thrive that you can tell us about?

I am currently in the process of helping a client with a limited Cybersecurity platform work towards compliance in their industry. I really enjoy being able to help them understand that Cybersecurity can be attainable with the right focus, some hard work and a clear goal.

Are you interested in learning more about Thrive? Click here!

And don’t forget to follow us on Twitter and LinkedIn for the latest news, and continue checking our blog for more in our “Thrive Employee Spotlight” series. Until next time…

As one of the fastest-growing private companies in the U.S. named by Inc. 5000, we are thrilled to receive another award that highlights Thrive’s commitment to our workplace culture.

The Herald-Tribune recognized Thrive as one of the 2022 Top Workplaces. The award celebrates employers that are retaining and attracting talent amid COVID-19-related workplace challenges.

While Thrive is experiencing record-breaking growth via acquisitions, we’ve done so with an unwavering focus to prioritize our team and work culture. Thrive’s employee headcount has grown 200% since 2001 with more than 1,000 employees around the world.

Our success in becoming the leading technology provider delivering end-to-end managed services and unmatched expertise to drive secure digital transformation is a result of our collaborative team environment and dedicated employees.

Thrive places a strong value on employee work-life balance and offers comprehensive benefits, including a 401k plan and a full selection of health insurance plans to choose from, as well as paid holiday and vacation time.

We also strive to strengthen our work culture by hosting company outings and team-building activities to encourage office camaraderie.

The heart of the Top Workplaces program is the employee survey results which are used to determine which employers make the Top Workplaces list.

Please click here to see all the 2022 Herald-Tribune Top Workplaces winners.

We’re also hiring! Click here to view our open positions and apply today.

“While we are drastically growing, we continue to prioritize our team and work culture,” Augustine said. “We offer comprehensive benefits, including a 401k plan and a full selection of health insurance plans to choose from, as well as paid holidays and vacations.”

“Stopping suspicious payment activity is critical, but so is simply teaching people how to identify a phishing message — especially at smaller banks with fewer cybersecurity capabilities”, Chip Gibbons, chief information security officer at IT solutions company Thrive, told BAN.

For the sixth consecutive year, Thrive has earned a spot in the latest Inc. Magazine rankings of the 5,000 fastest-growing private companies in the U.S. Thrive ranked No. 2,474 on the 2022 Inc. 5000 with an impressive 234% growth since 2021.

The list represents a unique look at the most successful private companies with significant revenue growth from 2018 to 2021. The companies on the 2022 Inc. 5000 represent a new group of fast-growing private businesses that have demonstrated success amid COVID-19-related challenges. Companies such as Facebook, Chobani, Under Armour, Microsoft, and many other well-known brands gained their first national exposure as honorees on the Inc. 5000.

Thrive’s inclusion on the Inc. 5000 list comes at a significant time of growth for our company. Thrive’s employee headcount has grown 200% since January 2001 with more than 1,000 employees around the world. Through acquisitions and internal growth, Thrive has cemented its global position as a leading technology provider delivering end-to-end managed services and unmatched expertise to drive secure digital transformation.

To qualify, companies must have been founded and generating revenue by March 31, 2018. Other requirements include being based in the United States and having a minimum revenue of $100,000 in 2018 and $2 million in 2021.

Here’s a look at Thrive’s climb on the Inc. 5000 list over the years:

• 2017 – No. 3,413
• 2018 – No. 3,248
• 2019 – No. 1,222
• 2020 – No. 2,764
• 2021 – No. 3,037
• 2022 – No. 2,474

Congratulations to all those recognized! The complete Inc. 5000 list is now available here.

Your business’ technology is critical to its productivity, but unfortunately, this technology can (and at some point, likely will) break. So, what do you do when it does?

Let’s go over some of the options that you must consider.

Businesses Have Three Options for their IT Support

A business in need of maintenance and support services for its information technology systems can approach this need in three different ways:

An In-House Team

If your business has a team member or a department that works on the technology that your operations rely on, you rely on in-house IT resources.

A Break/Fix Provider

These IT companies are those that are called upon to resolve existing IT issues and repair needs.

A Managed Service Provider

These IT companies work with businesses on an ongoing basis to assist them with their IT, proactively dealing with potential issues rather than waiting for them to arise.

In terms of these options, a business that utilizes an in-house team isn’t restricted to using just those resources, either. Many businesses supplement their internal resources by outsourcing some of their IT responsibilities to one of the other options. Otherwise, outsourcing all of the IT needs that a business has is a common tactic for businesses (particularly those too small to dedicate an employee to their technology maintenance).

However, the options for outsourcing aren’t exactly equal. There are a variety of reasons that working with a managed service provider (MSP for short) is the better call. Now, are we biased in saying that? Slightly—but that doesn’t mean we’re wrong.

Why Working with an MSP is the Better Business Decision for Your Technology

Let’s run through the scenarios surrounding break/fix IT services and the experience to be had working with an MSP when a critical piece of business technology goes on the fritz.

Business A relies on a break/fix provider for its IT needs. One day, a few of the business’ workstations suddenly can’t connect to the server, leaving many of Business A’s employees stranded. To solve the problem, Business A reaches out to its provider. Unfortunately, their IT provider isn’t able to send someone out to their location for a few hours—or potentially, days—and when the technician does arrive, it takes a few additional hours to diagnose and correct the issue. Meanwhile, money goes out the door every hour Business A’s IT is unavailable, both in terms of lost productivity and in payroll. Business A is then on the hook for the repair costs which, depending on how long the issue takes to resolve, could be quite substantial.

Business B, on the other hand, relies on an MSP like Thrive for assistance with its technology, paying each month for services scaled to its needs. By utilizing modern remote monitoring and maintenance tools, the MSP is able to remotely keep an eye on Business B’s infrastructure. As a result, issues are caught early or are mitigated proactively through these remote capabilities, before they create the expenses that accompany downtime. Business B can therefore keep their IT in line while still maintaining their budget while helping to ensure their profitability.

Which would you rather be, Business A or B?

Working with us can help ensure that you’re more like the latter. Find out more about our services by contacting us today.