LONDON, July 21, 2021 /PRNewswire/ -- With the number and
impact of cyber attacks continuing to increase rapidly, BT has
today announced a multi-million pound investment in Safe Security,
an industry-leading cyber risk management firm. Headquartered in
Silicon Valley, their SAFE ('Security Assessment Framework for
Enterprises') platform allows organisations to take a health check
of their existing defences and understand their likelihood of
suffering a major cyber attack.
Industry analysis estimates that the cost of global cyber crime
reached over US$1 trillion in 2020,
as criminals exploited seismic changes in everyday life to target
both individuals and organisations of all sizes. With high-profile
recent incidents impacting critical areas such as energy
infrastructure and medical care, businesses and governments are
under huge pressure to objectively assess how protected they are
against the latest forms of cyber attack.
The investment will allow BT to combine the SAFE platform with
its world-leading managed security services to provide customers
with a real time view of how safe they are against an incredibly
fast-moving cyber threat landscape. SAFE is unique in calculating a
financial cost to customers' risks and giving actionable insight on
the steps that can be taken to address them. The platform
ultimately enables organisations to surgically target gaps in their
defences, and already protects multiple Fortune 500 companies and
governments around the world.
Philip Jansen, Chief Executive of
BT, said: "Cyber security is now at the top of the agenda for
businesses and governments, who need to be able to trust that
they're protected against increasing levels of attack. Adding SAFE
to BT's proactive, predictive security services will give customers
an enhanced view of their threat level, and rapidly pinpoint
specific actions needed to strengthen their defences. Already one
of the world's leading providers in a highly fragmented security
market, this investment is a clear sign of BT's ambition to grow
further."
Saket Modi, Co-founder and CEO of
Safe Security, said: "We're delighted to be working with a proven
global security leader in BT. Their investment and strategic
partnership with Safe Security will further accelerate our vision
of making SAFE scores the industry standard for measuring and
mitigating cyber risks. By aligning BT's global reach and
capabilities with SAFE's ability to provide real-time visibility on
cyber risk posture, we are going to fundamentally change how cyber
security is measured and managed across the
globe."
As part of this investment, BT will be granted exclusive rights
to use and sell SAFE to businesses and public sector bodies in the
UK, and will incorporate the platform within its wider global
portfolio. In recognition of its experience in providing security
solutions to organisations across the world, BT will be designated
as the recommended global partner for improving a customer's SAFE
score. BT will also work collaboratively with Safe Security to
develop future products.
About BT
BT Group is the UK's leading
telecommunications and network provider and a leading provider of
global communications services and solutions, serving customers in
180 countries. Its principal activities in the UK include the
provision of fixed voice, mobile, broadband and TV (including
Sport) and a range of products and services over converged fixed
and mobile networks to consumer, business and public sector
customers. For its global customers, BT provides managed services,
security and network and IT infrastructure services to support
their operations all over the world. BT consists of four
customer-facing units: Consumer, Enterprise, Global and its
wholly-owned subsidiary, Openreach, which provides access network
services to over 650 communications provider customers who sell
phone, broadband and Ethernet services to homes and businesses
across the UK.
For the year ended 31 March 2021,
BT Group's reported revenue was £21,331m with reported profit
before taxation of £1,804m.
British Telecommunications plc is a wholly-owned subsidiary of
BT Group plc and encompasses virtually all businesses and assets of
the BT Group. BT Group plc is listed on the London Stock
Exchange.
For more information, visit www.bt.com/about
About Safe Security
Headquartered in Palo Alto, California, Safe Security is a
pioneer and leader in the "Cyber security and Digital Business Risk
Quantification" (CRQ) space. It helps organizations measure and
mitigate enterprise-wide cyber risk in real-time using its ML
Enabled API-First SAFE Platform by aggregating automated signals
across people, process, and technology, both for first & third
party to dynamically predict the breach likelihood (SAFE Score)
& dollar risk of an organization.
The SAFE scoring model is built as joint research at
MIT that incorporates cyber security
sensors data, external threat intelligence, and business context
and places it together in a Bayesian Network of a Supervised
Machine Learning scoring engine to give out scores and dollar value
risk that the organization faces. The scores are calculated both at
a macro and micro level and can also be measured for particular
Lines of Business / Crown Jewels / Departments.
The SAFE Scores will enable the organization to have a "common
language" across teams, from the board all the way down to an
analyst to be aligned with a consistent risk metric along with
justifying investments in cyber security and purchase of cyber
insurance for the organization.
For more information, visit https://www.safe.security/
BT Contact:
media@bt.com
View original
content:https://www.prnewswire.com/news-releases/bt-invests-in-unique-silicon-valley-technology-to-measure-and-fight-cyber-risk-301338008.html
SOURCE BT