This summer, SIX has complemented its Cyber Security Services with Network Traffic Analysis as a Service (NTAaaS). An integral part of the new solution is the network detection and response tool ExeonTrace developed by the F10 Startup Exeon Analytics. The partnership was supported by THE HOME OF FINTECH.
F10 Corporate Member SIX is integrating the detection and response software ExeonTrace into its cybersecurity offering. Together, SIX and Exeon Analytics are providing a truly Swiss solution for network analytics. The software developed by the F10 Startup Exeon automatically detects hidden threats such as cyberattacks or misconfigured devices and alerts the security experts. Exeon is able to track down cyberattacks in just one day while it takes companies on average 206 days to detect they have been breached. “A company network is a bit like a fortress. The entrance is heavily guarded as companies invest a lot of effort into prevention such as anti-virus software or strict firewalls. However, once a potential attack is inside the network, it can often move relatively freely. With ExeonTrace, companies can constantly analyse data movements with the help of machine learning and big data algorithms and detect cyber threats instantly”, Carola Hug, COO at Exeon, explains.
F10 as THE HOME OF FINTECH is the place where valuable partnerships start. The F10 Incubation & Acceleration programs bring innovative Startups like Exeon together with established institutions in finance, banking, insurance, consulting, and digitalisation to further innovation in the financial world. Besides partnering with SIX, Exeon has also collaborated with the F10 Corporate Member PostFinance. “The F10 ecosystem offered additional visibility and credibility as it is highly regarded. This gave us a further boost in discussions with potential customers. Further, F10 provided us with access to other larger companies with which we did not have any relation before”, says Carola. Her advice to other Startups looking for strong partners is to “be patient and not underestimate the sales cycles, especially when offering a high-value product in a newly evolving space. The process can be lengthy but is definitely worth it.”