US cybersecurity solution provider Columbus Collaboratory has launched WatchTower, a new platform that will help users identify and manage cyberattacks.
According to Columbus Collaboratory, the platform was borne out of a collaborated effort and investment from founding members American Electric Power, Battelle, Cardinal Health, LBrands, Huntington Bancshares, Nationwide Insurance and OhioHealth.
Jeff Schmidt, VP and chief cybersecurity innovator for Columbus Collaboratory, said: "Continuous vulnerability management is the first line of cyber defense, but the volume of information and event records associated with this can be immense, and it is not sufficient to merely capture the data.
"Security managers are unsatisfied and frustrated by the vulnerability management solutions that dominate the market, and we believe WatchTower vulnerability management as a service is an accessible and foundational security solution for any business."
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WatchTower will be offered to businesses as a vulnerability management subscription service on a cloud-based platform. The new app will aim to target potential risks, implement strategies for vulnerabilities, interpret scanned results and provide data-driven responses to known or potential threats. Services include scheduled threat scans to monitor threat changes; real-time access to analytics; and data visualizations and up-to-date overview of trending threats.
A 2017 Juniper research report, The Future of Cybercrime & Security: Enterprise Threats & Mitigation 2017–22, forecasted that cybercrime will cost businesses $8 trillion over the forecasted period 2017–22 due to the increase of internet users and lack of cybersecurity solutions businesses have in place to protect their online information and communications.