Cybersecurity Solution For Asset Managers

09 Dec 2020 | 01.01 pm

Cybersecurity Solution For Asset Managers

Prism Secure developed by OpenSky, Typetec and Stryve

09 Dec 2020 | 01.01 pm

Automation specialist OpenSky has created a new cybersecurity solution in collaboration with Typetec and Stryve that will help asset management firms fend off cyberattacks.

Prism Secure is designed to help asset management companies prevent the organisational disruption, reputational damage and loss of earnings associated with a cyberattack or breach. 

The partners say it is a robust solution that can be introduced independently of existing IT services and works by identifying and rectifying any gaps in the existing IT security infrastructure.

The service also provides customers with a cyberactivity monitoring platform to deliver real-time insights, and independent penetration testing to ensure the effectiveness of the measures taken in terms of dealing with cyberattacks, according to OpenSky.

The company’s automation skillset worked with solutions provider Typetec and cybersecurity experts Stryve to create the platform. It includes analysis, repair, monitoring and testing, and can be installed within four weeks by the partners.

Prism Secure ensures that companies using it adhere to best practices set by the Central Bank of Ireland. In guidelines published in March, the bank advised asset management companies to have a proactive approach to data security within their environment and a cohesive cybersecurity strategy as part of their overall business plan. Its six-pillar approach on managing cybersecurity included guidance around risk governance, incident response and IT asset inventories, all of which are covered by Prism Secure.

OpenSky business manager Michelle McKenna (pictured) commented: “This joint venture will help to solve the vulnerabilities that exist within the asset management industry and minimise the potential damage to business reputation and operations if a cybersecurity incident occurs.”

Typetec sales manager Finbarr O’Riordan added: “When we heard about thematic testing for financial institutions, we knew we needed to take action to support these businesses and ensure they have covered all vulnerabilities. We know the Prism Secure solution will do just that.”

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