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Subject: PER

Banking Visionary Chip Mahan Joins DefenseStorm Board of Directors

A proven visionary who has led successful change in the financial services industry for years, Mahan values DefenseStorm's unique built for banking approach to cyber risk management for financial institutions.

ALPHARETTA, Ga., May 30, 2024 /PRNewswire-PRWeb/ -- DefenseStorm, the leading provider of cyber risk management solutions and co-managed services exclusively to financial institutions, is proud to announce that James S. "Chip" Mahan III joined its Board of Directors in May.

"I am proud to serve on the DefenseStorm board and work with its leaders to bring critically important cyber risk management solutions to the banking industry."

Mahan built his career revolutionizing the banking industry and brings deep expertise to the DefenseStorm board. He founded and currently serves as Chairman and CEO of Live Oak Bancshares, whose commercial banking subsidiary, Live Oak Bank, is the nation's leading SBA lender. He is also a managing director and co-founder of Canapi Ventures, a series of funds focused on providing venture capital to new and emerging financial technology companies. Prior to Live Oak, he founded Security First Network Bank, the world's first internet bank.

He currently serves on several fintech and financial services boards including Apiture, a joint venture between Live Oak and Fiserv, which focuses on creating next-gen technology for financial institutions; and the American Bankers Association. He is also a co-founder of nCino, a cloud-based banking software built on the Salesforce platform; Finxact, the cloud-native core-as-a-service platform founded in part by Mahan and other industry pioneers; and Payrailz, a digital payment company.

"Chip has been a friend and supporter of the company for a long time, so it's an honor that he's taken the step to join the Board," said Steve Soukup, chief executive officer at DefenseStorm. "Our cyber risk management solutions are purposefully 'Built for Banking', addressing all the unique operational requirements banks face. One reason we're able to do this is the 10-year relationship we've had with Live Oak Bank and the incredible experience of innovators like Chip."

"Financial institutions are in the business of protecting their customers and DefenseStorm plays an integral role in making this happen by providing proactive technologies and resources that mitigate cyber risks," said Mahan. "I am proud to serve on the DefenseStorm board and work with its leaders to bring critically important cyber risk management solutions to the banking industry."

About DefenseStorm

DefenseStorm provides an integrated platform of cyber risk assessment, governance, security, and fraud solutions that ensure financial institutions achieve and maintain cyber risk readiness. The only system specifically built for banking, it accounts for all the daunting challenges, regulations, and technology requirements financial institutions face. Their intelligent data engine, GRID ACTIVE, ensures real-time access, analysis, and action on all critical threat data. The Cyber Threat Surveillance Operations (CTS Ops) team provides access to managed resources 24x7x365, delivering the help and expertise needed by financial institutions. For more information visit: https://defensestorm.com/company/about-us/

Media Contact

David Cross, DefenseStorm, 1 404-723-0420, [email protected], www.defensestorm.com

SOURCE DefenseStorm

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