ATLANTA, Dec. 11, 2019 (GLOBE NEWSWIRE) -- ControlScan, a leader in managed security services specializing in compliance, detection and response, has been chosen by Cutter to help the financial services firm reduce its cybersecurity risk. According to the newly signed agreement, ControlScan will provide Cutter with 24x7 threat detection and response as a managed security service.

According to the ControlScan 2019 Managed Detection and Response Report, IT teams spend an average of 40 hours per month monitoring endpoints and security logs. Because of this, 62 percent are at best only moderately confident in their ability to respond to a cyberattack. Cutter recognized its ability to reduce this risk in their own business by utilizing the ControlScan Managed Detection and Response (MDR) service.

“Cutter purchases portfolios and residual streams and manages every portfolio, each containing hundreds if not thousands of small and mid-sized merchants,” said Denise Shomo, President, Cutter, LLC. “ControlScan’s MDR service gives us confidence that qualified security analysts are watching our IT environment around the clock, ensuring that the data we’re entrusted with doesn’t fall into the wrong hands.”

“Cutter’s leadership team has taken the time to understand the business’s cybersecurity risk,” said Chris Bucolo, SVP Market Strategy, ControlScan. “Through this up-front investment, as well as implementing 24x7 threat detection and response, Cutter has proactively taken control of its security posture.”

The ControlScan MDR service leverages the company’s security operations center (SOC) and its proprietary SIEM platform, Cyphon, which captures and compiles data from both physical and digital sources. This elite combination of people, processes and technology provides Cutter with a managed security partnership they can rely on.

ControlScan is also a longtime PCI program partner for Cutter. Since 2010, ControlScan has helped thousands of merchants within Cutter’s portfolios achieve and maintain compliance with the Payment Card Industry Data Security Standard (PCI DSS).

For more information about ControlScan and its range of managed security services, please visit ControlScan.com/MSS.

About ControlScan
ControlScan managed security and compliance solutions help secure IT networks and protect payment card data. Thousands of businesses throughout the U.S. and Canada partner with us for easy, cost-effective access to the expertise, technologies and services that keep cyber criminals and data thieves at bay. With highly credentialed cybersecurity and compliance experts; 24x7 managed detection and response; managed UTM firewall services; ASV vulnerability scanning; security penetration testing; PCI compliance programs; QSA, QSA(P2PE), QPA and HIPAA assessments; and more, we’ve got your back. For more information visit ControlScan.com.

About Cutter, LLC
David Daily, CEO of Cutter, founded the company in 2006 with a primary focus of helping ISOs and merchant level sales (MLSs) leverage the value of their residual income streams. At the time, he saw an increased need to provide them with an avenue to sell their residuals. Originally based in Franklin, Tenn., Cutter has grown to 22 employees and is now headquartered in Wyomissing Pa., with branches in Birmingham, Ala., and Franklin. Since its inception, Cutter has completed hundreds of portfolio acquisitions and is now actively pursuing other types of purchases to include software companies with SaaS revenues and ISVs. For more information, visit Cutterfinancial.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/90403c8c-a924-4e0b-93ab-0d64affa2338

ControlScan Press Contact
Stacey Holleran
Director, Corporate Communications
678-694-0654