CyberTech is one of the fastest growing sectors within the FinTech industry, with FinTech Global data showing investment in the space has grown 14x since 2014 to reach $3.4bn last year.
That surge in activity comes as financial services firms are increasingly moving towards digital operations and expanding their security budgets. According to a study by Gov.uk, finance and insurance firms increased their spending on cybersecurity by 23% YoY in 2019.
Given the huge rise in appetite for the sector, the CyberTech100 was produced to identify the 100 innovative companies that every financial institution needs to know about when they consider and develop their information security and financial crime fighting strategies.
The standout companies were chosen by a panel of industry experts and analysts who reviewed a study of over 1,000 CyberTech companies undertaken by FinTech Global, a data and research firm. The solution providers making the final list were recognized 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.
FinTech Global director Richard Sachar said, “Now, more than ever, established financial institutions need to be aware of the latest security technology solutions in the market to protect their organizations from data leaks and cyber attacks.”
“The CyberTech100 list helps senior management filter through all the vendors in the market by highlighting the most innovative CyberTech companies in sectors such as Threat Management, Data Governance, Cloud Security, Employee Risk and Fraud Prevention,” he added.
The leading companies that were awarded a place on the list include:
Cobwebs Technologies: provides law-enforcement grade automated web intelligence solutions that enable financial institutions to drive safe, compliant business by delivering decision-quality insights
Enveil: pioneering data security company protecting Data in Use to enable secure search, analytics, sharing, and collaboration
PQShield: the leading 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: allows 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.