Israeli And UK Firms Team Up To Fight Financial Cyber Attacks

An Israeli startup is joining forces with a UK-based cyber firm to help combat the rising digital finance security threats faced by businesses. 

EverC uses automation and AI to detect online money laundering as well as fake, illegal and dangerous products and services. 

Under its new partnership with Foregenix, which provides cybersecurity solutions for the payment card industry, the two will work to gather comprehensive intelligence on the financial threats businesses experience as they move their operations online, as well as reduce their risk of exposure to them. 

The two companies say that threats such as from online criminal networks are growing due to both businesses and financial institutions increasingly digitizing their operations. 

According to American research and consulting firm Gartner, 89 percent of all companies have already adopted a digital-first business strategy or are planning to do so. 

The International Monetary Fund has warned that even though businesses and financial institutions are relying more on digital infrastructure, there are no clear leaders responsible for protecting their systems against cyberattacks. 

“We are thrilled about this collaboration with Foregenix,” said Ariel Tiger, CEO of EverC. 

“There are great synergies here – both in the customers we serve and in the technologies that we have built. This partnership is an opportunity to further our shared mission to drive security and growth for global payment providers and marketplaces,” he said.  

“I am thrilled to announce the commencement of our strategic alliance with EverC,” said Benjamin Hosack, co-Founder of Foregenix. 

“This partnership represents unprecedented opportunities for growth and innovation. The future is bright, and we are excited to embark on this journey hand in hand with our esteemed partner.”