Story image

Raiz chooses AI-powered cybersecurity solution for financial security and compliance

14 Aug 2018

AI-based cybersecurity company Versive has announced that Raiz Invest, 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 with 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% each quarter.

As an expanding financial company, Raiz wanted to increase its level of security.

The company 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 implementing VSE is a critical component of their compliance with financial regulations.

Partnering with Versive was a key step in achieving these goals.

Raiz CEO and managing George Lucas says, “As our company grows, 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 to protect our customers and investors from data breaches.”

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 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.
Security professionals want to return fire – Venafi
Seventy-two percent of professionals surveyed believe nation-states have the right to ‘hack back’ cybercriminals.
Alcatraz AI to replace corporate badges with AI security
The Palo Alto-based startup supposedly leverages facial recognition, 3D sensing, and machine learning to enable secure access control.
NZ ISPs issue open letter to social media giants to discuss censorship
Content sharing platforms have a duty of care to proactively monitor for harmful content, act expeditiously to remove content which is flagged to them as illegal.
Unencrypted Gearbest database leaves over 1.5mil shoppers’ records exposed
Depending on the countries and information requirements, the data could give hackers access to online government portals, banking apps, and health insurance records.
Bitdefender invests in A/NZ with new offices and regional director
Bitdefender has opened its Partner Advantage Network (PAN) programme with the aim of recruiting and supporting its over 500 local resellers.
Mozilla launches Firefox Send, an encrypted file transfer service
Mozille Firefox has launched a free encrypted file transfer service that allows people to securely share files from any web browser – not just Firefox.
Online attackers abusing Kiwis' generosity in wake of Chch tragedy
It doesn’t take some people long to abuse people’s kindness and generosity in a time of mourning.
Ransomware’s decline equals cryptomining’s rise
ESET’s Security Days Conference recently took place to go over the current threat environment and what to look out for next.