Linedata Partners with Conduit Security to Enhance Cybersecurity Protection for Investment Managers
· Linedata and Conduit Security team up to safeguard the investment management community from evolving cyber threats
· This partnership will enhance the Linedata Protect offering with advanced capabilities to detect, prevent and mitigate threats such as wire fraud and deep fakes
Paris, New York, Boston, Charlotte, London, Hong Kong, February 20, 2024 – Linedata, (Euronext Paris: LIN), a global provider of asset management and credit technology data and services, announced today that is partnering with Conduit Security, a leading independent cybersecurity technology firm headquartered in Baton Rouge, LA, to further protect Linedata’s investment management clients. This strategic collaboration aims to enhance Linedata’s current Linedata Protect offering by incorporating advanced capabilities for detecting wire fraud.
As the SEC enacts new compliance rules on cybersecurity incident disclosures amidst a rapidly evolving cyber threat landscape, particularly with the advancements of artificial intelligence, detecting and countering threats has become more vital than ever for investment firms. By incorporating Conduit’s advanced detection technology into the Linedata Protect offering, investment management clients will benefit from a comprehensive solution that addresses not only existing cybersecurity threats, but also emerging and evolving threats such as wire fraud and deep fakes.
“Investment managers need to be seeing around the corners of cybersecurity to stay ahead of ever-evolving threats,” said Anup Kumar, Head of Linedata Global Services. “This collaboration with Conduit underscores our commitment to providing comprehensive cyber solutions for our investment clients by addressing wire fraud and other emerging threats in a way that is tailored to the intricacies of the financial industry.”
Conduit brings expertise in proactively managing the risks of wire fraud. Conduit’s software provides codified best practices and procedures, smart risk intelligence, transparency and accountability that allows Linedata clients to detect and prevent wire fraud attempts in real time.
“As the threat landscape continues to advance, so does our dedication to staying at the forefront of cybersecurity innovation,” said Ryan Castle, Chief Executive Officer at Conduit Security. “Our partnership is a significant step in addressing the complex challenges that investment firms face as it relates to wire fraud threats. By combining our expertise in identifying and preventing wire fraud with Linedata’s investment industry leadership, we’re excited to deliver a holistic solution that will safeguard investment firms.”
In an era where cyber threats have become an inherent cost of doing business, asset managers, hedge funds, and private equity firms are particularly vulnerable targets. Linedata’s comprehensive cybersecurity services encompass Linedata Protect Managed Detection, Response, and Remediation (MDRR), along with policy development, training, vulnerability assessment and testing, third-party risk management, and CISO-as-a-Service. Linedata Protect and Linedata Protect Premium are offered on a consumption-based model with no minimums, allowing the benefit of transparent pricing and cost certainty with the ability to scale up or down as needs evolve.
