The cyber threat facing financial firms is growing by the day, but FinTech Gobal has revealed the 100 cybersecurity companies from around the world that are leading the charge against bad actors and digital threats.
Cybersecurity has never been more important. Not only have the number of hack attacks and ransomware insurrections grown year on year, but the coronavirus has exacerbated the threat. Since the outbreak started at the end of 2019, bad actors around the world have been trying to leverage the pandemic for their own nefarious purposes. Add to that a smattering of new laws around the world that have upped the cost of being breached and having your data compromised, and it’s easy to see why investing in CyberTech matters more and more for businesses.
Finance and insurance firms have stepped up to the challenge and increased their cybersecurity spend by 23% year-on-year in 2019, according to a study by Gov.uk. It is against this background that FinTech Global has unveiled the CyberTech100 list of 2020.
The annual CyberTech100 list is a celebration of the tech companies around the world that are at the forefront of the battle against cyber threats. The businesses to be named on the coveted list are held up as the world’s most innovative providers of digital solutions helping financial services firms to fight off cyber attacks and protect their data.
The companies were selected among 1,000 CyberTech companies judged, reviewed and analysed by a panel of industry experts and analysts. The panel recognised the providers to be named among the leading companies in their sector for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the security value chain.
Being named on the CyberTech100 list is even more impressive given that the sector has grown almost 14 times over since 2014, according to FinTech Global’s research. In the first quarter of 2020 alone, the sector made up 53.4% of the total investment being injected into the RegTech sector.“Established financial institutions need to be aware of the latest security technology in the market to protect their organisations from data leaks and cyber attacks,” says Richard Sachar, director at FinTech Global.
“The CyberTech100 list helps senior management filter through all the vendors in the market by highlighting the leading companies in sectors such as threat management, data governance, cloud security, employee risk and fraud prevention.”
Cobwebs Technologies is one of the companies named on the list. The venture founded in 2015 provides law-enforcement grade automated web intelligence solutions that enable financial institutions to drive safe, compliant business by delivering decision-quality insights
Enveil is another example of a company that has continued to impress industry stakeholders. Having been named on the coveted RegTech100 list in 2019, the cybersecurity startup kicked off 2020 by bagging $10m in a Series A round to fund its global ambitions. Well-deserved, given the company is a pioneering data security company protecting data in use to enable secure search, analytics, sharing and collaboration.
One of the most anticipated paradigm shifts in technology is that of quantum computers. Once they arrive, they are set to cut the processing time of even the most complex computer problem to a close to nothing. However, that also means that a lot of the encryption solutions businesses use today can be breached in a matter of seconds whereas it would have previously taken hundreds of years. And that’s where the next name on the list comes in. PQShield is run by experts in post-quantum cryptography, from theory to deployment, providing quantum-secure cryptographic solutions for software, software/hardware co-design and data in transit
Symphonic is a another name of the list. The Scottish venture empowers organisations to cost-effectively balance customer experience and access security by centralising how business access policies are applied when users access data and services
Think Cyber Security offers the next generation of security awareness, applying behavioural and learning science theory to deliver real-time and context-sensitive guidance, reducing operational risk.
A full list of the CyberTech100 can be found at www.CyberTech100.com. More detailed information about the companies is available to download for free on the website.
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