Product: ThetaRay Analytics Platform
ThetaRay, headquartered in Tel Aviv, Israel, with offices in New York City, created a big-data analytics platform that uses machine learning to protect critical infrastructures in financial services and the industrial Internet (which refers to the integration of complex physical machinery with networked sensors and software). The company's core technology uses eight patented algorithms in its proprietary Hyper-Dimensional, Multi-Domain, and Big Data Analytics platform.
ThetaRay was established in 2013 by Prof. Amir Averbuch of Tel Aviv University and Prof. Ronald Coifman of Yale University. The two mathematicians designed the platform to identify zero-day attacks, hidden advanced persistent threats, operational faults, threats and fraudulent activities. The technology uses algorithms and artificial intelligence to assess security and operational data across an enterprise. The platform's responsive design and dynamic structure make it better equipped to handle today's threat environment than rules-based logic, signatures or heuristics, the company stated.
"We built an effective software solution that can be installed anywhere in a customer's premises that can identify any abnormalities without the need for any human touch or understanding," said Mark Gazit, Chief Executive Officer at ThetaRay. "We don't look at specific values because patterns and rules are no longer applicable in the digital world."
Gazit said the main reason the company doesn't try to find viruses is that criminals look for vulnerabilities in a network; firewalls and rules are insufficient protection against attacks. He further noted that ThetaRay solutions are simple to implement, unlike other security systems that may require as much as eight months to implement. ThetaRay's enterprise-scale solutions can be up and running in a matter of weeks, he said.
Financial institutions using the platform have reported that ThetaRay's responsive solutions combined with its lower-than-average false positive rates create a layered, unified approach to security while helping to detect and defeat threats. A ThetaRay client that operates an online lending marketplace experienced a 15-second return on investment, the company noted. The ThetaRay platform identified 12 transactions involving $10 million seconds after being installed. The platform red-flagged the transactions (later found to be fraudulent) due to the less-than-average ages of homeowners applying for mortgages.
ThetaRay listed the following additional attributes to its security and threat detection system:
ThetaRay's financial services solutions employ real-time detection to help financial institutions mitigate an array of operational risks including fraud, insider threats, money laundering and anomalous business processes. The platform can be integrated into existing client frameworks such as data warehouses and risk, fraud and auditing mechanisms.
The company's industrial suite of solutions monitor equipment platforms, promptly notifying clients of malfunctions, misconfigurations and power outages that could potentially impact critical infrastructure. This information can be useful to self-attended kiosk deployers, power plants, transmission and distribution networks, oil and gas facilities, and critical manufacturing sites.
Both platforms include event alerts that provide crucial information such as score, timestamp and transaction data, which can help analysts make informed decisions by determining the root causes of threats and their potential impact on critical infrastructure.
ThetaRay Executive Vice President Kris Robinson looks forward to helping the company expand its presence in the United States. The ThetaRay team is particularly interested in working with financial institutions, acquirers and fintech companies in the United States, she said.
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