Hilltop Cybersecurity (CSE:CYBX) (OTC:BGGWF) Developing #Blockchain-based Portfolio Management Product; Hires Product Expert
KELOWNA, British Colulmbia - April 30, 2018 (Investorideas.com Newswire) Hilltop Cybersecurity Inc, ("Hilltop" or the "Company") (CSE:CYBX) (OTC:BGGWF), is pleased to announce that it is developing a secure portfolio management product, utilizing blockchain technology, based on work done for the US Government. The new product, called "CYBR-EPM", builds on Hilltop's core cybersecurity competency and addresses an emergent need in the enterprise portfolio management space. The improvements include the creation of an un-hackable ledger for financial transactions, and better digital identity management.
According to Gartner Research, hacking costs the U.S. up to $300 billion per year. Worldwide that figure is closer to $445 billion, or a full one percent of global income. By 2021, cybercrime costs could reach $6 Trillion. By protecting against cyber-attacks that target portfolio management applications, Hilltop's new product will allow organizations to securely manage asset portfolios through the planning, budgeting and execution stages.
To oversee the commercialization and expansion of its portfolio management product, Hilltop has hired proven industry expert, Peter Hartley. Mr. Hartley, now Senior Vice President of Hilltop's Portfolio Management Group, is a recognized expert in portfolio management and the founder of HPS Global Consulting, one of the world's leading Portfolio Management Consultancy organizations.
Corby Marshall, CEO of Hilltop Cybersecurity, said, "This product represents a tremendous opportunity to help companies address the important area of cybersecurity in their project management endeavors. As DevOps, AGILE development and other technologies move companies faster than ever, it is important to remain vigilant about the cybersecurity implications of those and other new paradigms. Without cybersecurity controls baked in, an asset management application could open an organization to exploitation by concentrating valuable information in a way that is vulnerable to a cyber attack. Our new product will address this glaring security gap and we are delighted that Peter Hartley has agreed to join our team. Peter is a pioneer in the portfolio management area and will be instrumental in commercializing this aspect of our cybersecurity technology."
How CYBREPM works
Hilltop's CYBR-EPM is a ground-breaking application that can automatically detect and flag behaviors that deviate from defined business rules, and provides detailed analysis to strengthen the decision-making process and enterprise portfolio governance. Customers can set the parameters that matter to their organization – whether those are Key Performance Indicators, internal policies or regulatory requirements – and catch problems before they grow.
CYBR-EPM's blockchain implementation delivers an immutable digital ledger for recording transactions, including all updates to project and portfolio data or digital approvals by key stakeholders, as well as financial operations. CYBR-EPM'S configurable workflows provide "smart contracts" to evaluate and update the blockchain. CYBR-EPM's memorialization of the data via blockchain provides for non-repudiation through digitally signed transactions and the encrypted, stored results are tamperproof. Because the ledger is replicated across multiple ledger nodes, there is no single source of failure as with standard database records.
Most organizations do not incorporate security guidance or security controls into their general project, contract and portfolio management processes and are often faced with security failures. Meeting security requirements, necessitates the coordinated actions of multiple security devices, applications and supporting infrastructure, end users, and system operations. Reengineering a system to incorporate security is a time-consuming and expensive endeavor. Hilltop addresses this gap by incorporating security policy and risk analysis as an integrated component of all stages of the planning, budgeting and execution life-cycle.
While the current market for portfolio management products focuses primarily on project execution and efficiency metrics, there are currently no products which offer continuous monitoring and security assessments that link life-cycle activities and the potential usage environments.
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About Hilltop Cybersecurity
Hilltop Cybersecurity (CSE:CYBX) (OTC:BGGWF) is a cybersecurity and cryptocurrency security specialist. The Company has developed a unique, patented, cybersecurity platform, designed to protect businesses from external and internal cyber attack, and has also patented its biometric security solution for crypto-currencies.
Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management or the negative thereof or similar variations. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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