HalcyonFT Quarterly Newsletter - Q3 2024 - Updates and Recommendations
It has been a busy summer for HalcyonFT! Below you’ll learn about our recent Midwest expansion, the changing AI landscape, new developments at Apple and Microsoft, and more!
In this issue:
Midwest Expansion with Director Jeffrey Stene
Legato Security Becomes HalcyonFT’s Preferred MSSP
CrowdStrike Update
The AI Landscape: Open AI and Microsoft Copilot
Apple’s Latest Launches: iOS 18, iPhone 16, and Apple Intelligence
Global Relay: Archiving AI prompts and Text Messages
Changes in Microsoft Teams Licenses
Midwest Expansion with Director Jeffrey Stene
Newly hired Midwest Director Jeffrey Stene is leading HalcyonFT’s continued expansion in the Midwest.
Over the past year, HalcyonFT has continued to grow and acquire clients across the country. We’ve recently launched our new Midwest Region, which covers clients in Colorado, Illinois, Minnesota, Texas, and Wisconsin. Opening this new region better positions us to ensure these clients experience the same exceptional service as our clients in the East Coast and West Coast Regions.
Last month, Jeffrey Stene joined HalcyonFT as Midwest Director. He has more than 20 years of experience in IT leadership at Wells Fargo, where he was responsible for risk management, IT compliance, and security governance. In his free time, he enjoys photography and spending time with his family.
Jeffrey’s commitment to client satisfaction and demonstrated team leadership will help us continue to develop our Midwest service. If you happen to be in the Greater Minneapolis-St. Paul area, please reach out and help us welcome him to the HalcyonFT team!
Legato Security Becomes HalcyonFT’s Preferred MSSP
HalcyonFT has partnered with Legato Security as our preferred Managed Security Services Partner (“MSSP”).
Modern cyberthreats have shifted from exploiting vulnerable devices to targeting identities (emails) and credentials (passwords). Phishing, credential stuffing, and social engineering have become common tactics, given that compromising a single identity can grant bad actors access to a broad range of critical systems and sensitive data. In response, HalcyonFT has adopted a “defense in depth” approach that emphasizes the importance of having a multi-layered cybersecurity strategy.
HalcyonFT recommends partnering with a reputable MSSP that provides managed detection and response (MDR) services with continuous 24/7 monitoring of security events on end points, networks, and SaaS applications. Leveraging an MSSP allows firms to identify and mitigate threats in real time, significantly reducing the risk of undetected attacks.
HalcyonFT recommends Legato Security as our preferred MSSP. Legato Security’s technology aggregates and analyzes data from multiple parts of our technology infrastructure in order to correlate activities and neutralize threats. Legato Security is SOC 2 Type 2 certified, which signifies that its internal information security practices meet the highest regulatory standards.
Over the past six months, more than 25% of our clients have transitioned to Legato Security as their MSSP. If you’re not yet utilizing this service, we’ll discuss it in more detail during your next IT Steering Meeting.
CrowdStrike Update
Following its outage misstep in July, CrowdStrike’s response is “so far, so good.”
On July 19, a significant incident at CrowdStrike resulted in short-term, worldwide technical pandemonium—yet CrowdStrike remains a leader in the cybersecurity industry. HalcyonFT first recommended CrowdStrike in early 2024 as our preferred endpoint security product. After the July incident, we carefully evaluated CrowdStrike’s response as well as market alternatives, and we continue to recommend CrowdStrike for endpoint security. We are continuing to monitor this situation carefully.
Over the past two months, CrowdStrike has focused on restoring client confidence with more stringent testing protocols, enhanced monitoring capabilities, and transparent communication about what happened. Despite the short-term challenges resulting from the incident, financial industry analysts have maintained a positive outlook on CrowdStrike’s future, citing its leadership in cybersecurity and its ability to adapt swiftly in the face of adversity. Additionally, CrowdStrike has been recognized as a Leader once again in the 2024 Gartner Magic Quadrant for Endpoint Protection Platforms, marking its fifth consecutive year in this top position.
The AI Landscape: Open AI and Microsoft Copilot
A new feature promises to enhance your productivity and memory, but it also raises some concerns.
Open AI and Microsoft Copilot continue to introduce new features that aim to improve the user experience through the power of AI.
As AI continues to reshape cybersecurity, data science, and consumer apps, the HalcyonFT team is working hard to keep you abreast of the latest changes. Below we summarize recent developments with Open AI and Microsoft Copilot.
Open AI has released a new large language model (LLM) named o1. Designed for complex tasks and harder problems, it is trained to spend more time thinking through problems before responding. In testing, it has performed similarly to PhD students on challenging tasks. However, it is still a “preview” release and, although its early responses are impressive, its responses (like those of all AI tools) should be verified.
Microsoft will launch Wave 2 of its Microsoft 365 Copilot updates by the end of September, featuring GPT-4-enhanced orchestration for faster and more accurate responses. In response to user feedback, Microsoft will also release additional Copilot features in its suite of Office applications.
In Outlook, Copilot will help prioritize inboxes and identify key messages with a feature to tag specific email topics as high priority by late 2024. In Excel, Copilot now handles both text and numerical data, supports conditional formatting, and can code in Python for advanced analysis. PowerPoint's Copilot integrates with a narrative builder to draft presentations using company-branded templates. For Teams, Copilot uses meeting transcripts and chat to provide detailed summaries, including questions and action items.
If you have any questions or would like to implement Copilot, please reach out to your HalcyonFT point of contact.
Apple’s Latest Launches: iOS 18, iPhone 16, and Apple Intelligence
Apple continues to make headlines with the release of iOS 18, the iPhone 16, and Apple Intelligence.
On September 16, Apple released its latest operating system, iOS 18, and a new update for iOS 17. Both of these releases include many security updates: iOS 18 includes 33 security fixes, and iOS 17.7 includes 16 security fixes. We recommend that all clients update their systems to iOS 18.0 due to its patches for critical items, such as WebKit, which is essential to Safari and the heart of the operating system.
iOS 18 delivers several new features:
Calendar: An improved interface provides a better overview of the upcoming month.
Messages: Text messages can now be sent with bolding, italics, and other effects, and reactions can use emojis or stickers. Rich communication services (RCS) are now supported, allowing the receipt of higher-resolution photos and video from non-iPhone devices.
Privacy and Security: Users now have more granular controls over what information apps can access.
For details, please read Apple’s summary of the new features available with iOS 18.
Just a few days after the release of iOS 18, Apple also released the new iPhone 16. This largely incremental upgrade primarily focuses on the camera. If you already have the iPhone 15 Pro, the only improvements are increased battery life, a better camera, Wi-Fi 7 support, improved microphones, and an improved screen. There’s also a new, customizable button on the side of the device, but in our opinion these relatively minor improvements don’t justify the higher price tag of the iPhone 16 unless you're due for an upgrade.
Finally, Apple Intelligence, Apple’s new artificial intelligence platform, is being partially released later this year and is scheduled for a full launch in 2025. It will be available only on iPhone 16 and iPhone 15 Pro models. Apple Intelligence has better integration that allows Siri to perform more functions than before, such as helping to curate emails and organize files. As with most of the new AI features that are being introduced at a breathtaking pace, we recommend that users temper their expectations as AI still needs to learn and be trained in best practices.
Global Relay Archive of Chat and Text Messages
SEC fines firms for use of off channel communication such as Text and 3rd Party chat, and Global Relay releases functionality to capture texts from 3rd party messaging apps.
SEC regulated firms face strict recordkeeping requirements (e.g., SEC, FINRA, FCA), but compliance can be challenging when business correspondence occurs via off-channel system such as text messaging and chat applications. Global Relay simplifies compliance by archiving messaging on corporate-owned Android and Apple devices as well as popular messaging apps such as WhatsApp, Zoom Phone, and Telegram.
On September 24, 2024, The SEC announced charges against 12 firms for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications in violation of recordkeeping provisions of the federal securities laws.
*Apple/iOS device support expected Q4 of 2024
If you’d like to learn more about how Global Relay can boost your company’s compliance with recordkeeping requirements, please reach out to your HalcyonFT point of contact.
Changes in Microsoft Teams Licenses
Microsoft Teams can now be purchased separately from Microsoft 365 and Office 365.
Beginning on April 1, 2025, new O365 subscriptions will no longer include Teams. Microsoft will begin offering Teams as its own product. However, if your organization is currently using the bundled product, you may continue to do so.
HalcyonFT will recommend the appropriate level of subscription based on each organization’s specific needs.
We’re here to help.
Please contact your HalcyonFT team if you would like any additional information on any of these items.
— Your HalcyonFT Team
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