UK-based cyber-intelligence company Snode has launched in South Africa, aiming to use its advanced technology to secure businesses, especially in the banking sector.
Snode uses advanced mathematical algorithms, the processing power of learning machines, and predictive analytics to provide businesses with real-time intelligence and insights into behavioural patterns that help identify and combat cyber-threats before they occur.
The company's cyber-intelligence solution looks to help clients proactively manage their cybersecurity posture, with Snode saying this empowers businesses to be driven forward through embracing emerging technologies.
A team of 12 consultants with extensive cybersecurity expertise and experience is spread across Snode's offices in Johannesburg and London, with the company advising on cybersecurity matters across various sectors, particularly financial services but also mining, professional services and aerospace.
"Snode's application in cybersecurity leverages years of expertise in cyber-intelligence and mathematics," said Nithen Naidoo, CIO at Snode.
"The company believes it provides a much needed service in South Africa; cybercriminals are now, more than ever, turning their attention to emerging markets which they perceive to be easy, yet lucrative, targets."
Snode uses Intelligence Amplification (IA), combining machine learning with human experience and insight. This differs from Artificial Intelligence AI), which aspires to replace human involvement altogether.
The company's focus in South Africa will be the banking sector, which it says is particularly vulnerable in emerging markets, as evidenced by the recent increase in SWIFT attacks. Cyberattacks frequently come from advanced and highly motivated crime syndicates which are dispersed globally, with the company saying equally sophisticated methods are needed to combat it.
"Snode believes that a more proactive and innovative approach to cybersecurity is needed. South Africa is already in the midst of a cybersecurity storm," Naidoo said. "Snode brings existing security controls into a next-generation cyber-defence, capable of defeating today's sophisticated and dynamic attackers."
He said data is the core of any business, and therefore it is of the utmost importance to effectively secure information and protect it against cyber-threats.
"Snode tips the balance in cyber-warfare, to favour the defenders and root-out the attackers. Passively monitoring massive amounts of data traversing client networks, giving Snode a comprehensive view of all activities. It detects and reports suspicious behavioural patterns, as well as various anomalies, in real-time. No conventional solution does this," said Naidoo.