How a Financial Services Firm Reduced Human Cyber Risk by 91% with usecure

How Wealth Associates Reduced Human Cyber Risk by 91% with usecure

In the financial services industry, trust is the foundation of client relationships. For Wealth Associates, safeguarding that trust goes beyond smart investments—it includes protecting sensitive client information from cyber threats. In today’s landscape, cyber attacks like phishing, malware, and social engineering continue to rise, posing a serious risk to financial firms. Wealth Associates faced a similar challenge but, with the help of usecure, they were able to drastically reduce their human cyber risk by 91% in just one year.

The Challenge: Safeguarding Client Trust in a Cyber-Compromised World

Founded in 2008 and based in Cape Town, South Africa, Wealth Associates has grown to over 150 employees, providing trusted financial guidance and wealth management to clients. However, the increasing prevalence of cyber attacks presented a unique challenge: one employee mistake could jeopardize years of client trust.

Despite a strong IT system, human error, such as falling for phishing scams or downloading malware, could compromise client data, putting financial stability at risk. Recognizing the stakes, Wealth Associates decided to prioritize comprehensive cybersecurity training for all employees.

The Solution: Tailored Cybersecurity Training & Automated Risk Management

Wealth Associates needed a solution that would go beyond traditional, one-size-fits-all training programs. They sought an approach that catered to each employee's role and risk profile. Enter usecure—a platform designed to streamline human risk management with automated, customized training that adapts to individual learning needs.

Key features of usecure that made an impact at Wealth Associates included:

• Gap Analysis: A thorough initial assessment to determine each employee's risk level and knowledge gaps.
• uLearn: Automated security awareness training tailored to individual risk profiles, ensuring that high-risk employees, such as those handling sensitive financial data, received additional training.
• uPhish: Phishing simulations that tested employees’ ability to spot and report suspicious emails, reinforcing their training.
• uPolicy: Automated policy management that ensured employees were regularly reminded of and compliant with company security protocols.

With these tools, AutoEnrol allowed Wealth Associates to automatically enroll employees into personalized training programs without administrative overhead. The platform’s automated reports helped management track progress and adjust training as needed.

The Results: A Dramatic Drop in Cyber Risk

Within months, employees at Wealth Associates reported a significant improvement in their understanding of cybersecurity. The results were clear:

• Overall Risk Score: Dropped by 91%, from 553 to 50 in one year.
• Course Risk Score: Reduced from 200 to 73, thanks to improved performance in training and phishing simulations.
• Employee Engagement: Improved dramatically, with employees not only completing their assigned courses but also actively participating in phishing simulations and policy updates.

The firm saw that automating their human risk management through usecure not only protected client data but also improved internal efficiency, with less administrative burden on managers.

Lessons Learned: Why Automation is Key for MSPs and Financial Firms

Wealth Associates’ success story is a powerful example of how financial firms can protect client data and maintain trust by focusing on human risk management. Here are the key takeaways:

1. Tailored Training is Essential: Employees in high-risk roles (such as those handling client payments or accessing sensitive financial information) require specialized training that targets their unique vulnerabilities.

2. Automation Saves Time: By using tools like AutoEnrol and uPhish, firms can deploy and manage cybersecurity training with minimal manual effort, allowing them to focus on client services.

3. Continuous Monitoring & Reporting: Regular reports on employee progress help keep management informed and ensure that training programs are both effective and up-to-date.

Wealth Associates’ journey with usecure demonstrates that managing human cyber risk doesn’t have to be overwhelming. With the right tools, financial firms can protect their most valuable asset—client trust—while streamlining their internal processes.

If you’d like to learn more, you can read the full case study here.

Ready to see how usecure can help you reduce human risk? Grab a free NFR license and explore how our platform can protect your business from the ground up.

Learn more here: usecure.io