AI-based cybersecurity company Versive has announced that Raiz Invest, a mobile-first micro-investment platform based in Australia, is using the Versive Security Engine (VSE) to help protect sensitive customer data and comply with financial regulations.
Raiz provides customers with an easy way to regularly invest either small or large amounts in one of six portfolios of varying risk levels.
The company has 164,000 active customers in Australia, and approximately $200 million in funds under management, growing at over 20% each quarter.
As an expanding financial company, Raiz wanted to increase its level of security.
The company offers bank-level security to consumers through the app to ensure customer data is held securely.
In addition, Raiz recently listed on the Australian Stock Exchange and implementing VSE is a critical component of their compliance with financial regulations.
Partnering with Versive was a key step in achieving these goals.
Raiz CEO and managing George Lucas says, “As our company grows, we are tasked with maintaining both our level of service and the sacred trust of safeguarding customers’ data and money.
“The Versive Security Engine ensures that we are on the cutting edge of cybersecurity to protect our customers and investors from data breaches.”
The Versive Security Engine is built on a proprietary machine learning platform that enables it to identify subtle patterns across massive volumes of data.
VSE automatically exposes the activities that all adversaries must engage in to accomplish their mission: internal reconnaissance, collection and exfiltration.
This strategic framework significantly reduces false positives so that VSE delivers only a handful of high-fidelity ThreatCases per week so that Raiz’s cybersecurity team can focus on the most serious threats before damage is done.