EAST PALO ALTO, CA -- (Marketwired) -- 11/17/15 -- Finjan Holdings, Inc. (NASDAQ: FNJN) a cybersecurity company, today announced that its wholly owned subsidiary, CybeRisk Security Solutions, LTD., a cybersecurity risk advisory services business, ("CybeRisk") has signed a partnership with RiskLens, the premier provider of cyber risk management software. RiskLens uses an established statistical methodology to assess and quantify the financial risk of a company's exposure in cyber related breaches, called FAIR, the only international standard Value-at-Risk model for information security and operational risk. This methodology looks at risk from three vantage points: the amount of potential loss, the probability of that amount of loss and the time frame. Output from this methodology provides customers an opportunity to be aware of, prepare for, and better protect against cyber related disruptions and loss to their businesses. The implications are many, and range from the SEC paying more attention to breaches and disclosure guidelines to insurance providers transitioning to more specific policies for cyber breach coverage.
"While cybersecurity threats are all too real and the potential consequences severe, quantitative cyber risk assessment is a relatively new concept," said Yoram Golandsky, CEO of CybeRisk. "The importance of customers understanding their risk exposure, prioritizing their risk mitigations and clearly understanding the ROI of their security investments is a crucial step as we go-to-market with our advisory services. Our partnership with RiskLens not only allows us to offer a clear quantification of risk to our customers but also expands our customer reach and global market opportunity."
"Insurance firms began to recognize the issue of cyber risk over a decade ago. As a CISO at a large insurance firm I was faced with the absence of standard cyber risk quanitification methodologies and tools to answer the business question of how to value cyber risk and how to justify my security budget," said Jack Jones, Co-Founder and EVP of R&D for RiskLens. "RiskLens software enables companies across various sectors to quantify and report on cyber risk in an effective and meaningful way. Our partnership with CybeRisk allows us to deepen the relationship with our customers to not just quantify their risk but to help manage and mitigate it across business processes and technology domains."
CybeRisk Security Solutions, a Finjan Company (NASDAQ: FNJN), was founded in 2015 to deliver advanced Cyber Risk and Security Advisory Services. CybeRisk services range from the strategy level down to highly technical and tactical consulting. Services are backed by a suite of advanced Attack & Penetration, Defense Optimization, Risk Management, and Threat Intelligence to customers globally. For more information, please visit www.cyberisk.biz
Established nearly 20 years ago, Finjan is a globally recognized leader in cybersecurity. Finjan's inventions are embedded within a strong portfolio of patents focusing on software and hardware technologies capable of proactively detecting previously unknown and emerging threats on a real-time, behavior-based basis. Finjan continues to grow through investments in innovation, strategic acquisitions, and partnerships promoting economic advancement and job creation. For more information, please visit www.finjan.com.
RiskLens is the premier provider of cyber risk management software. RiskLens empowers large enterprises and government organizations to manage cyber risk from the business perspective by quantifying it in dollars and cents. RiskLens is the only cyber risk management software purpose-built on FAIR, the only international standard Value at Risk (VaR) model for cyber security and operational risk. For more information visit the RiskLens website at www.risklens.com.