3 Cybersecurity companies fighting against financial crime

By Edlyn Cardoza

Cybersecurity is a set of techniques that are used to protect internet-connected systems. It can protect networks, data, computers, and software. Cyber-attacks are performed to make an unauthorised change, access, extort money, or destroy data. Some of the common types of cyber-attacks are malware, phishing, ransomware, and social engineering. Cybersecurity helps individuals’ and organisations protect their data and systems.

According to Crunchbase’s query, 268 startups in 2020 have raised a sum of $4.7 billion. The global risk management and information security end-user spending are predicted to grow at a 5-year CAGR of 9.2% to reach $174.5 billion in 2022. According to Gartner’s market estimates, new growth in spending is related to regulatory compliance, digital transformation, response capabilities, and increased security threats. 

As every platform is built to go digital, new cybersecurity startups continue to attract investors as cybersecurity investments are viewed as the remedy for breach attempts and uncertainty. Needless to say, sophisticated cybersecurity is more crucial than ever, and fortunately, there are several cybersecurity companies ready to help financial institutions. 

Below are three cybersecurity companies tackling cybercrime issues within financial institutions:

Auriga: Auriga is a software solutions company specialised in end-to-end systems that integrate the various delivery channels used in retail banking. It is the among the main European suppliers of software and solutions for the banking industry and the largest European independent software vendor for ATM applications and one of the leading suppliers of advanced solutions and innovative services dedicated to the management and integration of the different banking channels, namely self-service (ATMs, ASDs, kiosks), Internet banking, mobile banking and bank branch.

The company’s continued investments in research and development have placed Auriga at the forefront of the creation of a flexible and modular approach to interact with the different banking channels. Auriga is focused on revolutionising the way direct banking channels work, by integrating all of them into a single integrated cloud system that boosts efficiencies and time-to-market, whilst becoming the global leader in self-service applications.

Taking this into account, and with a firm belief in shared and integrated architectures as enablers for the implementation of new distribution channels, Auriga has developed a Cloud-based solution to manage all distribution channels coherently and with minimum effort, regardless of the manufacturer of the terminals. Its international expansion aims to bring its expertise and the excellence of Made in Italy technology to the world.

NsKnox: nsKnox is a cybersecurity company focused on Corporate Payment Security, founded and led by Alon Cohen, Founder & former CEO of CyberArk. nsKnox solutions protect corporations and banks against cyber-fraud carried out by insiders or outsiders, preventing significant financial losses and reputational damage. Leveraging its Cooperative Cyber Security™ (CCS) technology to combine the cyber strength of multiple organisations, nsKnox’s solutions detect and prevent finance & ops infrastructure attacks, social engineering, business email compromise (BEC) and other Advanced Persistent Fraud attacks.

Palo Alto Networks: Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organisations operate. Their mission is to be the cybersecurity partner of choice, protecting our digital way of life.

They help address the world’s greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration. By delivering an integrated platform and empowering a growing ecosystem of partners, they are at the forefront of protecting tens of thousands of organisations across clouds, networks, and mobile devices. Their vision is a world where each day is safer and more secure than the one before.