Castlepoint named to global CyberTech100 list
Annual list honors next-gen solutions shaping the future of cybersecurity
COMPANY NEWS: Canberra-based artificial intelligence (AI) compliance software specialist Castlepoint Systems has been named to the CyberTech100, an annual list that recognizes 100 of the world’s most innovative cybertech companies.
Those on this year’s list have been evaluated by an advisory board and regulatory analysts and recognized for the innovation of the proposed technology solution, potential cost savings and improved efficiencies for customers, and business growth.
“We are delighted to be named to the CyberTech100 for the second consecutive year,” said Rachael Greaves, CEO and co-founder of Castlepoint.
“With regulated entities increasingly coming under attack from malicious actors trying to access data, if a breach occurs, it is critical to quickly understand what the exposure was.
“Knowing and applying regulatory rules is one of the best ways to reduce cyber risk. The best way to find all this risky data, track it, match it to regulations and rules, and manage it in a compliant way is through AI. »
Castlepoint’s AI registers every system in an environment, in the cloud and on-premises. It logs every record in every system (structured or unstructured) and every file in every record, and uses natural language processing to extract all meaningful topics and entities mentioned in every item, regardless of format. It captures every event on the data, along with all the metadata.
“Last year, after suffering a breach, an Australian university contacted Castlepoint. Within 24 hours, we were managing their data and registering over 50,000 systems containing over seven million items and indexing and classifying approximately 200 affected systems. by the violation.
“This incident illustrates how fast our AI works. Within a day, we coded an ontology of privacy provisions from client-specific laws and regulations, as well as a registration authority to identify spilled data that needed to be disposed of. The University was able to report the impact of the breach to its governance team within 48 hours and has kept Castlepoint in place to help prevent any future spills.
Most organizations focus on immediate priorities and have a short planning horizon for cyber, which doesn’t seem as urgent as the need to meet goals, respond to FOIs, or complete reporting cycles.
But the most serious cyber incidents are slow-burning. Threat actors can sit dormant in systems for months before striking or can slowly exfiltrate data undetected. In this environment, and with the rapid growth of data stores and regulatory obligations, organizations need a low impact, high coverage method to control the risk and value of data.
“We need to do what we can to reduce the likelihood of a breach – but we can never completely prevent it. We need to focus much more on reducing the impact of a breach,” Greaves continues.
“We need to know our own data so that we can focus our efforts on what poses the most risk, which may include national security, sensitive personal information and financial data. Next, we need to understand the risks specific to the organization, whether it’s intellectual property, trade secrets, critical business data or regulated information – Castlepoint makes this possible.
Some of the issues Castlepoint has recently fixed include:
- Find references to potential child abuse in government databases with 99.8% accuracy
- Provide command and control of over 56,000 systems for a single organization
- Reduce the cost of legal discovery for an agency by 97% per year.
Commenting on the chosen companies, Global fintech said, “The CyberTech100 recognizes the next generation of solution providers who are shaping the future of the cybersecurity industry. These are the companies that every financial institution should be aware of when considering and developing their information security and risk management strategies.
A complete list of CyberTech100 can be found here.
About Castlepoint Systems:
castle point is a software solution that manages all information in an organization’s business systems. It automatically saves every digital record, regardless of its location or format, and uses artificial intelligence to classify it against rules and regulations (including privacy provisions, privacy policies and registration authorities, example) and applies the appropriate lifecycle controls. It acts as a single window to find, link, manage and audit every record in an organization’s network, regardless of the system in which it is stored, and it does so without any impact on existing systems or users, and without complex rules. engines. This allows governance teams to finally have a complete view of the entire environment and apply security, discovery, and compliance processes to each system from a single interface.