DefenseStorm Selected by NAFCU as Preferred Cloud-Based Cybersecurity Partner 

A trio of leading credit union CEOs representing the Preferred Partners program for NAFCU Services has selected DefenseStorm as the preferred partner for its cloud-based cybersecurity platform.

“With approximately 20 million cyber events occurring per day per financial institution, the volume and sophistication of today’s cyber threats are definitely challenging credit unions to maintain and prove ‘Cyber Safety and Soundness,’ DefenseStorm CEO Sean Feeney said. “For this reason, we are thrilled to partner with the NAFCU community, an organization that is entirely dedicated to the empowerment and betterment of credit unions.”

DefenseStorm CTO Sean Cassidy demonstrating the PatternScout anomaly detection engine at FinovateSpring 2017.

The combination of cybersecurity and compliance is what helped carry the day for DefenseStorm. The company’s GRID platform is a co-managed, cloud-based, compliance-automated solution that combines technology with human expertise in financial institution security and compliance. Built from the ground-up as a cloud-based solution, DefenseStorm’s platform provides durable, redundant, real-time service, making both analysis and remediation faster and more cost-effective. GRID features built-in FFIEC CAT and ACET compliance elements, and connects compliance policies to real-time alerts to make it easy for FIs to prove their compliance and security processes to regulators and examiners.

“We are proud to partner with DefenseStorm because they are so clearly dedicated to credit unions, and to providing them with real-time cyber safety and soundness,” NAFCU Service Corporation president Randy Salser said. “Their solutions are vital to the success, security, and stability of financial institutions.” A wholly-owned subsidiary of the National Association of Federally-Insured Credit Unions (NAFCU), NAFCU Services fosters relationships between credit unions and industry partners from verticals including payments, risk management, and security.

With offices in Seattle, Washington and Atlanta, Georgia, DefenseStorm was founded in 2015 and has raised nearly $15 million in funding. In addition to demonstrating its PatternScout anomaly detection engine at FinovateSpring last year, the company’s CTO Sean Cassidy presented Cloud Security Fundamentals at our developers conference FinDEVr Silicon Valley 2016.

This spring, DefenseStorm was named a Top 40 Innovative Technology Company by the Technology Association of Georgia (TAG). In February, the company announced a partnership with Florida-based American National Bank ($280 million in assets).

Finovate Alumni News

On Finovate.com

  • Bento for Business Raises $9 Million in New Funding.
  • Sensory’s Biometric Technology Now Powers Security for 24 Banking Apps.
  • DefenseStorm Selected by NAFCU as Preferred Cloud-Based Cybersecurity Partner

Around the web

  • Coventry Building Society to deploy Temenos T24 core banking platform for savings and mortgage servicing.
  • Finastra partners with Indonesian data center to bring IFRS 9 compliance capabilities to regional and medium-sized FIs in the country.
  • Akamai Technologies named a leader in Web Application Firewalls in The Forrester Wave’s Q2 2018 evaluation.
  • Payoneer partners with the Republic of Estonia’s e-Residency program to make cross-border payments easier for e-residents in India.
  • Twilio introduces a new developer-first, API-first partner program, Twilio Build.
  • Ping Identity forges strategic partnership with enterprise identity governance company, SailPoint Technologies.
  • Coinbase CEO follows Ripple’s lead on philanthropy.
  • Quadient teams with Quertum for software distribution in the Nordics and U.K.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

Around the web

  • Leondrino Exchange launches its own digital currency, XLEO.
  • BBVA forges global strategic agreement with Telefónica.
  • Revolut announces plans to build its own in-house processor.
  • Cybersecurity specialist DefenseStorm hires Terrie O’Hanlon as Chief Marketing Officer.
  • Expensify and Wells Fargo ink data exchange agreement.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Stronger Together: Fintechs, Techs, and FIs Collaborating on CyberSecurity

Image Designed by Freepik

Ready for some good news on the cybersecurity front?

Most of the time cybersecurity appears in the headlines, it is a report of a breach that just occurred or a new threat to guard against in the future. Caught between the hack that caught us unaware and the certainty that it won’t be the last, we can lose sight of the fact that there are hundreds of cybersecurity firms with thousands of security professionals that are working around the clock to make our lives online a lot safer. And many of these companies are Finovate alums specializing in service to the financial industry and its customers.

Ted Ross, founder and CEO of SpyCloud, demonstrating the company’s Best of Show-winning platform at FinovateFall 2017.

Importantly, not only are these companies working 24/7/365 to fight cybercrime, but also many of them are teaming up and partnering with financial institutions, retailers, and each other to test their technologies, make key improvements and enhancements, and ultimately get their fraud-fighting solutions to market.

With that in mind – and in line with our October focus on cybersecurity – here’s a look at the partnerships, agreements, and collaborations forged by our cybersecurity-related alums so far in 2017.

October

Fintech-to-Tech

  • Mitek partners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
  • Avoka extends strategic partnership with Mitek for digital identity verification solutions.
  • ThreatMetrix and ID.me partner to deliver ID verification for government and commercial digital services.
  • Ledger partners with Intel to boost blockchain app security.
  • BioCatch to power behavioral biometrics for Samsung SDS America. 
  • SecureKey collaborates with Intel to enable consumers to access its blockchain-based digital identity technology via traditional web browsers.
  • Zighra launches flagship continuous authentication product.
  • Kony to launch digital banking solution leveraging Daon biometrics. 
  • iSignthis to integrate its Paydentity UBO Service with Web Shield’s InvestiGate platform.
  • TASCET teams with Secured2 to launch Algo5 data security offering.

Fintech-to-FI

  • Latvian Bank Citadele secures mobile and online banking with VASCO’s DIGIPASS for Apps and CRONTO.
  • National Bank of Canada joins SecureKey’s digital identity network.

Fintech-to-ECommerce

  • HooYu to provide ID confirmation for U.K.’s Cars-as-a-Service easyCar Club.

Multiple Best of Show winner EyeVerify demonstrating its Eyeprint ID technology at FinovateEurope 2017 with partner YapiKredi Bank.

September

Fintech-to-Tech

  • Vera to provide data security services for GE.
  • BioCatch to power fraud prevention solutions for HoneyTek Systems.

Fintech-to-FI

  • DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).
  • Open Banking selects Ping Identity to provide the identity and access management to underpin the U.K.’s open banking framework.

Fintech-to-Ecommerce

  • Signifyd guarantees fraud protection for Magento Commerce Merchants.
  • Infosys Finacle partners with ToneTag to leverage sound wave technology to drive contactless authentications and transactions.

August

Fintech-to-Tech

  • Jumio partners with Plynk to bring instant verification to Europe’s first money messaging app.
  • FIS and Equifax partner to offer new identity verification solution, OnlyID.
  • Biometric Signature ID partners with National Fingerprint to provide virtual ID proofing and verification services.
  • BioCatch partners with LexisNexis to leverage data and analytics for better risk management.

Fintech-to-FI

  • Samsung to power biometric authentication pilot for Bank of America.
  • Mexican payment processor chooses fraud fighting technology from Featurespace.

Fintech-to-ECommerce

  • HooYu brings identity confirmation technology to BCRemit.

July

Fintech-to-Tech

  • ID Analytics partners with Acxiom to strengthen risk assessment and combat fraud.
  • HackerOne Powering bug bounty program for Tor browser.

Fintech-to-FI

  • MoneYou integrates Mitek’s identity solutions for real-time digital onboarding.
  • DefenseStorm to serve as cybersecurity partner for Bank of Jackson Hole to enhance security.

Fintech-to-ECommerce

  • International Air Transport Association chooses fraud prevention technology from Featurespace.
  • Signifyd brings its Guaranteed Fraud Protection solution to Authorize.Net’s U.S.-based e-commerce merchants.

Behavioral biometric innovator BehavioSec, shown here demonstrating BehavioSec on Demand at FinovateFall 2015, has won three Best of Show awards.

June

Fintech-to-Tech

  • Daon adds EyePrint ID to IdentityX platform courtesy of new partnership with EyeVerify.
  • IdentityMind Global to offer Confirm.io’s document authentication technology to its financial services customers.
  • Jumio partners with Monzo for strong identity verification.
  • iovation to integrate its device-based authentication technology with PingFederate from Ping Identity.
  • TSYS partners with Featurespace to deliver real-time decision capabilities.

Fintech-to-FI

  • Leumi Card to use Feedzai’s artificial intelligence platform to fight fraud.
  • Ghana-based Premium Bank selects NetGuardians’ anti-fraud solution – FraudGuardian.

May

Fintech-to-Tech

  • Cisco and IBM team up on security.
  • BehavioSec partners with Kount.
  • Trulioo partners with Mitek to add facial recognition functionality to its ID verification platform.
  • Daon to integrate IdentityX platform with Experian’s fraud and identity platform, CrossCore.

Fintech-to-FI

  • Australia-based forex broker Pepperstone to deploy Paydentity verification services from iSignthis.

April

Fintech-to-Tech

  • Fraud prevention innovator Featurespace partners with U.K. digital family banking solution, goHenry.
  • Payment solutions provider Buckaroo chooses AML solution from Fiserv.

Fintech-to-FI

  • Global financial services firm chooses Mobile Verify and Mobile Fill from Mitek.

Fintech-to-ECommerce

  • Braspag announces integration of e-commerce and anti-fraud technology from ACI Worldwide.

A FinDEVr favorite, HackerOne and its bug bounty and vulnerability disclosure platform leverage white hat hackers to find critical security gaps before criminals do.

March

Fintech-to-Tech

  • Mastercard adds to authentication arsenal with acquisition of NuData Security.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.

Fintech-to-FI

  • Daon brings mobile biometric authentication to UnionBank.
  • Co-op Financial Services to leverage machine learning-based fraud fighting technology from Feedzai.
  • Pindrop to mitigate call center fraud for credit union service organization PSCU.

Fintech-to-ECommerce

  • Saltrex to use Jumio’s Netverify Trusted-Identity-as-a-Service.
  • Featurespace to provide machine learning fraud and risk management solution to CashFlows.

February

Fintech-to-Tech

  • BioCatch brings continuous online and mobile authentication to Nuance Communications’ Security Suite solution.
  • Icon Solutions joins forces with Featurespace to bring anti-fraud protection to instant payments.

Fintech-to-FI

  • Affinity CU becomes “trusted sign-in” partner in SecureKey Concierge.
  • First national private bank of Turkey, Yapi Kredi to deploy Eyeprint ID from EyeVerify for mobile logins.

Fintech-to-ECommerce

  • Feedzai and Merchant Risk Council (MRC) team up to leverage AI and machine learning to fight fraud.
  • MoneyGram using Mobile Verify from Mitek to meet AML requirements.

January

Fintech-to-Tech

  • Arxan Technologies partners with Cisco as to protect connected medical devices.
  • WISeKey and Stratumn partner to provide enterprise-grade process security software based on blockchain technologies.
  • FICO and Ethoca partner to improve card acceptance rates, fight CNP fraud, and reduce disputes.

Fintech-to-FI

  • ACI Worldwide to provide fraud protection for Kuwait’s Shared Electronic Banking Services Company (KNET).
  • NetGuardians brings real-time fraud protection to Nigeria’s Keystone Bank.

 

Finovate Alumni News

On Finovate.com

  •  Luxoft Acquires UNAFORTIS to Broaden Client Base within Financial Services.
  • EVRY Announces Five-Year, $18.7 Million Deal with Finland’s Aktia Bank.
  • OurCrowd Opens Office in Spain, Lays Down Roots with Strategic Partnership.

Around the web

  • Trulioo launches its Global Business Verification service.
  • Diebold partnership with Transguard to expand service and technology offerings in the UAE.
  • Ethiopia’s Cooperative Bank of Oromia goes live with core banking solution from Temenos.
  • Pindrop Security leverages machine learning and a “customer consortium of shared fraudsters” to introduce Pindrop Protect 4.0.
  • Quovo unveils new account authentication solution, Autoverified Micro-deposits.
  • Xero partners with UK fintech Curve to automate expense management.
  • Zopa searches for new borrowers through Saffron Building Society loan partnership.
  • Sberbank, Russia’s Largest Bank, Announces Payment Solution.
  • DefenseStorm Renews SOC 2 Compliance.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Fenergo Helps Santander Enhance Customer Onboarding Experience.

Around the web

  • Juvo partners with Malaysian mobile virtual network operator (MVNO), Tune Talk. Join Finovate as we return to the Far East for FinovateAsia in November.
  • Alpha Payments Cloud accentuates its end-to-end middleware technology in rebrand to Alpha Fintech.
  • Klarna completes acquisition of German online payment specialist, BillPay.
  • ID.me adds support for FIDO U2F (Universal Second Factor) Security Keys.
  • DefenseStorm wins 2017 IDC FinTech Rankings Real Results Award for Digital Trust and Stewardship.
  • Alpha FinTech (formerly Alpha Payments Cloud) and Market IQ shortlisted for inaugural FinTech Abu Dhabi Innovation Challenge in October. Join our first foray to the Middle East as Finovate comes to Dubai in December.
  • Hip Pocket founder Mark Zmarzly to help promote innovation and provide mentorship to fintech startups in Australia as part of new Queensland-sponsored initiative.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Unison Leverages Institutional Investors to Help Home Buyers Bridge Affordability Gap.
  • Fiserv Wins Trio of New Credit Union Partners.

Around the web

  • Temenos unveils new online learning platform, Temenos Learning Community.
  • Service Credit Union (SCU) with $3 billion in assets to deploy nCino’s Bank Operating System.
  • DefenseStorm to bolster cybersecurity operations for Genesee Regional Bank ($551 million in assets).

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Mexican Payment Processor Chooses Fraud Fighting Technology from Featurespace.
  • Ripple Unveils Expanded Suite of Offerings

Around the web

  • BBVA announces record product sales through digital channels in June.
  • Tennis star Andy Murray revealed to be among 40,000 Revolut users pre-registered for the company’s crowdfunding initiative.
  • DefenseStorm hires Bob Thibodeaux as Chief Information Security Officer.
  • Modo Payments goes dark in Monday “Unnouncement.” Affirms plans to refocus on payments after hiatus.
  • Mashreq deploys Vipera for mobile wallet.
  • NICE inContact introduces CXone cloud customer experience platform.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • SocietyOne Surpasses $300 Million in Loans Issued
  • Fidor Bank’s Digital Marketplace Features Nutmeg as Inaugural Partner

Around the web

  • DefenseStorm to serve as cybersecurity partner for Bank of Jackson Hole to enhance security.
  • Baker Hill NextGen to power consumer loan origination for CapStar Bank.
  • Zenmonics Teams Up With Queen City Fintech To Drive Fintech Innovation in Charlotte
  • Fiserv partners with Vestwell to add digital retirement planning to its wealth management network

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • PayPal Makes Strategic Investment in Online Lender, LendUp.
  • Summit View: Trends and Challenges for Digital Lenders.

Around the web

  • OakNorth Bank is first European FI to deploy nCino’s Bank Operating System.
  • Avoka opens new office in Germany to support German-speaking banks in the DACH region.
  • IDology unveils ExpectID Call Verification to help fight call center fraud.
  • Klarna teams up with Knomo to give new purchase options to Knomo shoppers.
  • Bill.com announces deeper integration with Intuit’s QuickBooks.
  • DefenseStorm readies for July webinar on cybersecurity for financial services.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.