enableIT
Enabling a Holistic View of Risk Strategy

2008 is best remembered for the Great Financial Crisis. For years, economists have been intrigued to find the actual causes behind the event. Studies have indicated that data mismanagement was one of its key driving factors. The fact that large financial institutions undertook risks that surpassed their risk appetite was perhaps another issue. Nonetheless, whatever be the cause, this incident led to a deep recession and prolonged unemployment across the globe. The world’s banking sectors came to the point of breakdown in the aftermath of the catastrophe.

Fast forward to 2010. Having survived the crisis, two friends– Fabrice Mouret and Sammy Chowdhury— wondered if such an occurrence could be avoided in the future. Analyzing all the factors that drove it, the duo started a boutique firm in one of the most affected courtiers—the United States of America. They called it, enableIT, a nimble institution that provided a centralized risk management platform for financial institutions.

Mouret, who currently acts as its Managing Partner explains, “We assist our clients by taking a holistic view of their risk platform and help them to better aggregate the data which was the root cause of the financial crisis as identified by the new regulations.” enableIT’s financial risk practice focuses on four areas core areas: Credit risk, Liquidity risk, Market risk, and Regulatory risk. As the co-founders were IT veterans, they had inculcated technical and functional expertise while building enableIT’s team— enabling them to assist companies in escalating financial industry standards by optimizing data governance and technology. Today, enableIT has evolved into a prominent risk advisory that helps clients in managing digital innovation, financial risk, and cybersecurity.

Understanding that technology is an integral part of any organization, Mouret says, “Technology disruption and economic disintermediation are forcing executives to take on more risks to create more value for their customers. As a risk advisory, our mission is to improve risk resilience and secure clients’ business offerings.” As such, in 2018, they rebranded their cybersecurity practice as a fully-fledged subsidiary - Prescient Security.

We assist our clients by taking a holistic view of their risk platform and help them to better aggregate the data which was the root cause of the financial crisis as identified by the new regulations

Primarily, Prescient Security is a CREST and PCI Certified testing company that offers a holistic platform targeting cyber threats—especially the ones causing financial risks and operational disruption. The subsidiary has grown into a strong team of more than 200 consultants with offices in New York, San Francisco, and Toronto. Prescient Security’s expert testers perform a myriad of penetration testing services such as web application testing, mobile apps testing, wireless testing, red teaming, blue teaming, network testing, IOT testing, and code analysis. Besides, they conduct various security assessments like AWS infrastructure testing, risk control self-assessment, social engineering, application architecture review, and audit and compliance.

“We are mindful of the reality that our clients have to constantly innovate securely and responsively or be at risk of being outcompeted,” says Mouret. As such, they make organizations resilient to innovation risks. Additionally, the group’s UX/UI services help organizations to create a modern front-end with robust back-end. They also provide data science-as-a-service to organizations by analyzing structured and unstructured data.

With such an all-encompassing platform, it is safe to say that Mouret and Chowdhury have left no stones unturned to protect their clients from both cyber and financial risks.