Raiz Chooses Versive's AI-powered Cybersecurity Solution to Strengthen Financial Security and Compliance
Versive Security Engine Automatically Exposes the Most Serious Threats to Keep Raiz's Sensitive Data Safe
SEATTLE, Aug. 9, 2018 /PRNewswire/ -- Versive, Inc., an award-winning AI-based cybersecurity company, today announced that Raiz Invest Limited (Raiz), a mobile-first micro-investment platform based in Australia, is using the Versive Security Engine (VSE) to help protect sensitive customer data and comply with financial regulations.
Raiz provides customers an easy way to regularly invest either small or large amounts in one of six portfolios of varying risk levels. The company has 164,000 active customers in Australia, and approximately $200 million in funds under management, growing at over 20 percent each quarter.
As a fast-growing financial company, Raiz wanted to increase its level of security. The company already offers bank-level security to consumers through the app to ensure customer data is held securely. In addition, Raiz recently listed on the Australian Stock Exchange and VSE is a critical component of their compliance with financial regulations. Partnering with Versive was a key step in achieving these goals.
The Versive Security Engine is built on a proprietary machine-learning platform that enables it to identify subtle patterns across massive volumes of data. VSE automatically exposes the activities that all adversaries must engage in to accomplish their mission: internal reconnaissance, collection and exfiltration. This strategic framework significantly reduces false positives so that VSE delivers only a handful of high-fidelity ThreatCases per week so that Raiz's cybersecurity team can focus on defeating the most serious threats before damage is done.
- Continuous situational awareness: Raiz's highest priority is protecting its customers' information, data and money. VSE provides continuous situational awareness inside customer network and detects internal and external adversaries regardless of what new tools, tactics or exploits they use.
- The power of AI: VSE uses AI to automatically uncover the required chain of potential threat activity that separates the signal—the real risks to Raiz's business and customer information—from normal network noise.
- Increasing consumer confidence: With VSE running seamlessly behind the scenes, customers can invest securely with Raiz, knowing the company is proactively hunting for potential threats and shutting them down before damage is done.
Joe Polverari, CEO of Versive, said: "Hackers and other bad actors have the time and resources to successfully find an entry point into your network. Financial services companies like Raiz understand that securing their customers' information is of utmost importance. That's why VSE is the critical missing piece in a company's security portfolio, delivering the most dangerous threats that are already within the network so that security teams know what to focus on to avoid breaches."
George Lucas, CEO and managing director of Raiz, said: "As our company grows quickly, we are tasked with maintaining both our level of service and the sacred trust of safeguarding customers' data and money. The Versive Security Engine ensures that we are on the cutting edge of cybersecurity because it is one the most sophisticated technologies to protect our customers and investors from data breaches."
About Versive
Versive helps organizations focus on the cybersecurity threats that really matter. The Versive Security Engine discovers and makes sense of ongoing adversary campaigns inside corporate networks, instead of filling dashboards with hundreds of alerts. Our less-is-more approach generates about five high-fidelity ThreatCases per week by automating security expertise and understanding normal network behavior through machine learning. Versive has been recognized on CB Insights' prestigious AI 100 list of the most promising, privately held artificial intelligence companies for the past two years, and as a 2017 SINET 16 Innovator, a designation given to innovative and compelling emerging cybersecurity companies. To learn more, please visit www.versive.com.
PR contact:
Shannon Tierney
Nadel Phelan, Inc.
831-440-2409
Shannon.Tierney@nadelphelan.com
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