Entreda, a maker of cybersecurity technology for wealth managers, has launched its second-generation Unify platform.
The new platform aims to safeguard independent broker-dealers and registered investment advisor firms from “the widest possible spectrum of digital threats” and to help them stay “multiple steps ahead of hackers, phishing scams and thieves,” according to the firm.
The firm, which introduced the technology at the recent BNY Mellon Albridge Forum, says nearly 75% of financial advisors have been the target of a cyberattack — with the average remediation cost per single lost or stolen record at $141 in direct expenses. Thus, financial firms “could easily face catastrophic million-dollar losses under a full-scale cyber breach,” says Entreda CEO Sid Yenamandra.
“We focus on customized education about the missteps that can compromise client data integrity, the regulatory standing of firms and advisors, and by extension, their continued business viability,” Yenamandra explained in a statement.