Providing Unique Automated Cyber Posture Management & IT Reporting
NEW YORK CITY, NY, UNITED STATES, November 4, 2022 /EINPresswire.com/ — Steve Francesco, Founder, President & CEO of Cohere Cyber Secure—a firm specializing in Cyber Security, Compliance and Managed IT for the financial services sector—announces the public launch of Cohere’s security information and event management (SIEM) monitoring software that provides unique automated cyber posture & IT remediation audit reporting.
Francesco comments, ‘’Our financial services clients (hedge funds, broker/dealers, securities trading firms, portfolio managers, insurance and a host of Private Equity firms) cannot afford to have their operations compromised by cyber threats. To address these concerns, we architected a Security Information and Event Management (SIEM) System™ which delivers a Cohere Cyber Security Health Report™. This executive-level report summarizes attempted intrusion attempts, and issues by IP, at the device and application layer. Basically, we can now identify vulnerabilities BEFORE there is a problem and provide our clients with the regulatory compliance proof they require.’’
Hamlet Yousef is a Managing Partner at IronGate Capital Advisors, a firm that invests in early-stage companies and venture funds focused on defense, national security, and dual-use applications of advanced technologies. He has extensive global experience in cyber security and IT that dates to his days as a Diplomat/Foreign Service Officer at the U.S. Department of State. Hamlet is sought out by the intelligence community on early-stage technology that enhances the National Defense.
“CEOs and their insurers want to know they are both protected and compliant. What I liked about Cohere’s SIEM application and their Cyber Security Health Reports is that they provide a meaningful and actionable synopsis of a business’ cyber posture—in plain-speak—on demand. This report can then be provided directly to regulators and compliance authorities.’’Hamlet Yousef, Managing Partner at IronGate Capital Advisors
Michael R. Sanders, Chief Investment Officer at 5C Capital Management, LLC, and a Cohere client added, “Until I started working with Cohere, I would have to request for my IT provider to give me a status update on my environment. But by then, there was often an issue we had not expected. Something as small as someone’s home laptop being compromised can quickly escalate into a firm-wide crisis when you deal in the kinds of highly sensitive client data we do. I also must comply with all relevant regulations and reporting schedules like NY DFS, NY Shield Act, SEC, FINRA, and others—so I outsource that CISO role to Cohere. It’s way more effective—as we don’t have a single in-house person, but an entire outsourced team.’’
Manita Lane, Chief Client Experience Officer responded with, ‘’What we developed is an active review of a firm’s Cyber posture, inclusive of SIEM (Security Information and Event Management) metrics, correlated against outside scans and integrating with endpoint detection and response software. In the past, the effort to put a seamless report together would take 2 to 3 people, and about 3 to 4 weeks to complete. We now offer a more comprehensive report that is cleaner, crisper, more targeted, easier to read and more useful in less than 5 minutes. We recently obtained a provisional patent for the developed software….it’s been a game-changer for us, and for our clients!’’
Hassen Usman Ahmed, Chief Information Security Officer (CISO)at Cohere Cyber concluded with, ‘’Organizations today are looking to secure their critical data, streamline their IT operations, and mitigate their cyber exposure, and they cannot afford to wait weeks or months to be notified that they have an issue—with regulators or with hackers. During 2022, the average total cost of a data breach in the financial industry has risen to $5.97M. Additionally, clients are now being asked by their insurance providers to prove they have taken adequate steps to be compliant. Those are the issues we solve for.’’
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About Cohere Cyber Secure
Cohere owns and operates its own SNOC and 3 data centers supported by a 10 GB Private Fiber Ring Network. Its unique service offering includes cyber security, consulting and advisory, compliance, remediation–as well as managed IT, with the ability to support clients globally through its FCC 214 license.
Cohere has developed a proprietary “P3” security strategy (Predictive, Proactive, Preventative) with unique real-time access to U.S. Department of Defense (DOD), FBI, and Department of Homeland Security threat feeds. Their real-time proprietary security information and event management software (SIEM)™ was built by engineers who worked for the US Army Cyber Command and US DoD. They combine this technology with machine learning and AI to quickly identify vulnerabilities and employ protections to thwart attacks before they happen. As a result, no Cohere client has ever had to pay for ransomware.
1) Cost of a Data Breach Report 2022, IBM, 2022
2) “How financial services boards are addressing top cyber risks”, Ernst & Young, Aug. 30, 2021.