4 cybersecurity companies tackling cybercrime issues within financial institutions

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 unauthorised changes, access, extort money, or destroy data. Some common 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 $4.7 billion. The global risk management and information security end-user spending is predicted to grow at a 5-year CAGR of 9.2% to reach $174.5 billion in 2022.

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

Below are 4 cybersecurity companies tackling cybercrime issues within financial institutions:

• Aura

Aura is making an all-in-one intelligent safety solution that’s simple to understand and easy to use. They believe that people should be able to live with the peace of mind that their identity, online accounts, and devices will remain safe, private and protected, no matter where they go. With an easy-to-use, integrated suite of services trusted by millions, Aura makes comprehensive digital security accessible to all.

• OneSpan

OneSpan specialises in digital identity and anti-fraud solutions that create exceptional and secure experiences. They are a global leader in providing high-assurance identity verification, transaction signing, authentication, mobile security, simplified e-signature workflows, and secure video collaboration for virtual transactions. Their solutions enable trust that ensures the integrity of the people and artefacts associated with digital agreements and transactions across banking, financial services, healthcare, and professional services.

• Palo Alto Networks

Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology transforming how people and organisations operate. Their mission is to be the cybersecurity partner of choice, protecting the digital way of life. Palo Alto Networks helps address the world’s most significant 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, we are at the forefront of protecting tens of thousands of organisations across clouds, networks, and mobile devices.

• Prove

Prove is the modern way for businesses to enable their customers to prove their identities. Prove offers phone-centric solutions that enable its customers to acquire new consumers and engage with their existing consumers by removing friction while bolstering security and enhancing consumer privacy & consumer choice. Prove’s solutions are used by over 1,000 businesses across diversified industries, including banks, financial services, healthcare, insurance, and e-commerce. With 1 billion+ consumer and small business identity tokens under continuous management, Prove’s Phone-Centric Identity™ platform helps companies mitigate fraud while accelerating revenue and reducing operating costs across all channels.

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