NIST Issues Draft Guide on Tracking IT Assets for Financial Institutions | Practical Law

NIST Issues Draft Guide on Tracking IT Assets for Financial Institutions | Practical Law

The National Institute of Standards and Technology (NIST) has released a draft guide on how financial services organizations can better track their IT assets.

NIST Issues Draft Guide on Tracking IT Assets for Financial Institutions

Practical Law Legal Update w-000-7335 (Approx. 3 pages)

NIST Issues Draft Guide on Tracking IT Assets for Financial Institutions

by Practical Law Intellectual Property & Technology
Published on 03 Nov 2015 • USA (National/Federal)
The National Institute of Standards and Technology (NIST) has released a draft guide on how financial services organizations can better track their IT assets.
On October 26, 2015, the National Cybersecurity Center of Excellence (NCCoE) of the National Institute of Standards and Technology (NIST) issued a press release announcing it has published a draft practice guide entitled IT Asset Management (Special Publication 1800-5a), which is aimed at helping financial services organizations track the locations and configurations of their IT assets.
The guide explains how financial institutions can employ commercially available technologies to manage their devices and software. The guide also explains how users can tie separate data systems for physical assets, security systems, and IT support into a single system to gain insight into their entire systems and better manage cybersecurity risk.
In addition, the guide notes that having a single consolidated tracking system can, among other things:
  • Lower the total cost of ownership of IT assets.
  • Lessen the time needed to respond to incidents and perform system patching.
Interested parties may submit comments through the NCCoE website until January 8, 2016.