xorlab Recognized among CyberTech100 for Helping Financial Institutions Combat Cyber ThreatsBy Diana
Zurich, Switzerland, May 31, 2022 – xorlab today announced it has been selected in the 2022 CyberTech100 list of the world’s most innovative CyberTech companies. Organized by specialist research firm FinTech Global, the list recognizes the most innovative tech companies helping financial institutions combat cyber threats, protect their data, and mitigate digital risks.
The CyberTech industry for financial services has grown dramatically over the last couple of years as operations are increasingly moving to the cloud and organizations expand their spending on securing their digital infrastructure. With an average cost of $5.72m per data breach, the majority of financial institutions are projected to increase their security budgets even further.
As a result, this year’s process to identify the leading 100 companies in the CyberTech space was more competitive than ever. A panel of analysts and industry experts voted from a list of over 1,000 businesses. The finalists were awarded a place on the list 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.
“Financial institutions are 300 times more likely to be the target of a cyber attack compared to other companies. As such, security executives in financial services must stay on top of the latest innovation and threats in the market to proactively prevent data breaches and avoid reputational damage,” said Richard Sachar, director at FinTech Global. “The CyberTech100 list helps them do just that by identifying the top new technologies which can be part of an integrated cybersecurity risk management strategy.”
This is the second consecutive year xorlab has made the prestigious list. “We’re honored to be featured in the CyberTech100 list two years in a row,” Antonio Barresi, CEO and co-founder of xorlab, said. “The financial sector is among the primary targets of cyber attacks and this recognition demonstrates the continued importance of our solution in the fight against cybercrime. We are focused on constantly improving our product’s capabilities to match the threat landscape and helping financial institutions enhance their cyber resilience.”
A full list of the CyberTech100 and detailed information about each company is available to download at www.CyberTech100.com.
Previously, xorlab announced that it has been awarded the Innosuisse Certificate, which reflects remarkable progress achieved during the Innosuisse Core Coaching program and that the company is now ready for sustainable growth.
The company also announced recently the appointment of two new Board members, effective May 19, 2022: Roland Schönholzer, Independent Board Member and Angel Investor, and Mark Stäheli, Co-CEO of AVANTEC AG. The board now comprises five members who will leverage their skills and expertise to provide strategic guidance and insight to xorlab for its continued growth as a cybersecurity leader. The press release can be found here.
xorlab helps build a more cyber resilient world by defending organizations against never-been-seen-before cyber threats in Microsoft 365, Slack, or Confluence. Designed to scale, its machine-intelligent software understands human communication behavior and relationships to uncover even the most sophisticated attacks. With xorlab, security leaders can control the attack surface across tens of thousands of individual relationships in real-time, and ultimately restore confidence in digital communication channels. Major global banking, tech, and healthcare organizations rely on xorlab to protect their employees against ransomware, phishing, and fraud. xorlab is a European security company headquartered in Zurich, Switzerland. For more information, visit https://www.xorlab.com