Financial IT co Fiducia picks AlgoSec security solution

AlgoSec said that Fiducia Group is one of the top ten IT providers for financial organizations in Germany.

Information security company AlgoSec will provide advanced security, operational efficiency and change management solutions to Fiducia Group. AlgoSec called Fiducia one of the top ten IT providers for financial organizations in Germany.

Fiducia serves the IT networks of nearly 800 banks managing 66 million accounts and processing more than 16 billion transactions per year.

AlgoSec will provide its Firewall Analyzer and FireFlow technology. The systems will allow Fiducia Group to provide customers with cost-effective security and compliance, through intelligent automation technology that streamlines firewall risk management processes.

AlgoSec CEO Yuval Baron said that for Fiducia, “proper management of firewall rules and security policies is essential to eliminate potential security risks and uphold proper compliance standards, not to mention maintain customer confidence. The challenge it faced was that the traditional processes for performing vulnerability assessments of very large and complex firewall environments can be extremely time- and labor-intensive and subject to potential human error.”

AlgoSec has its R&D center in Petah Tikva. The company provides advanced firewall operations and security risk management solutions for enterprises.

Published by Globes [online], Israel business news - - on June 29, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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