Cyberbit to Protect the Bank of Jerusalem From Advanced Cyberattacks With its Endpoint Detection and Response System

 

Bank of Jerusalem: "We evaluated the major endpoint security solutions and Cyberbit achieved the highest detection rates for our testing criteria."

RA'ANANA, Israel, January 29, 2018 /PRNewswire/ --

Cyberbit Ltd., provider of cybersecurity products for detection, response and training across IT and OT systems, announced today it will supply the Bank of Jerusalem with Cyberbit Endpoint Detection and Response (EDR) in order to protect the organization's endpoints from advanced threats. The selection criteria focused on detecting unknown, targeted, and file-less attacks and on ransomware prevention capabilities.

"We evaluated the major endpoint security solutions and Cyberbit achieved the highest detection rates for our testing criteria. Unlike other solutions, Cyberbit EDR operates in an entirely self-contained mode, without relying on indicators of compromise, threat intelligence or Internet connectivity, so sensitive data is never sent outside our secure network," said Sharon Buller, IT Infrastructure Manager at Bank of Jerusalem.

"Financial institutions require advanced endpoint security solutions, while keeping their sensitive data safe and under control," said Adi Dar, CEO of Cyberbit. "This requires self-sufficient detection, based on machine learning, which detects unknown, evasive threats, without relying on web-based feeds and external analysis that may risk customer data," added Dar.

Notes to Editors: 

These days, financial institutions face formidable cyber threats every hour, even minute of the day. The cost of cyber breach for this industry is especially high and includes not only lost funds, but also cost of remediation, cost of notification of affected customers and loss of customers. Since security is a key trait which customers require in the financial institution, any news of cyber breach can lead to costly reputation damage and customer churn.

The 2017 Cost of Data Breach Study by the Ponemon Institute found that failure to quickly identify the data breach increases costs:

"If the MTTI (mean time to identify) was under 100 days, the estimated average total cost of data breach was $2.80 million. If it was over 100 days, the estimated cost was $3.83 million. The significant cost difference between these two subsamples suggests that the failure to quickly identify the data breach leads to higher costs. Having tools that heighten detective or forensic capabilities can significantly reduce data breach cost."

Cyberbit's Endpoint Detection and Response detects unknown threats, including ransomware, in seconds, and provides advanced forensics and threat hunting. By combining machine learning, graph-based malware analysis, behavioral analytics and big-data, Cyberbit EDR is faster to detect threats that outsmart conventional systems and automates the threat hunt saving days to weeks of analyst time.

Additional resources  

About Cyberbit 

Created to protect the most high-risk organizations in the world, Cyberbit secures enterprises and critical infrastructure against advanced cyber threats. The company's battle-hardened cybersecurity solutions detect, analyze and respond to the most advanced, complex and targeted threats across IT and OT (operational technology) networks. Cyberbit employs a diverse team from both the public and private sector, including researchers, mathematicians, former CISOs and SOC managers, as well as seasoned veterans of the intelligence and military communities. With offices in Texas, Singapore, Munich and Israel, and presence worldwide, Cyberbit is a subsidiary of Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT). To learn more about how Cyberbit maximizes protection against today's signature-less threats, visit https://www.cyberbit.com.

Cyberbit Contacts:

Sharon Rosenman
VP Marketing, Cyberbit
Tel: 972-54-4211804
sharon.rosenman@cyberbit.com

Dana Tal-Noyman
Manager Corporate Communications & Digital
Tel: 972-077-2948809  
dana.noyman@elbitsystems.com


SOURCE Cyberbit Ltd.



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