Cybersecurity Software in BFSI

The BFSI industry vertical comprises commercial banks, insurance companies, mutual funds, cooperatives, non-banking financial companies, pension funds, and other smaller financial institutions. The sector is an early adopter of cutting-edge cybersecurity solutions due to highly sensitive financial data. It faces different challenges related to stringent regulatory and security requirements providing superior service to customers and others. In addition, the industry is always on the lookout for security products and services that could protect the industry’s employees, customers, assets, offices, branches, and operations and therefore holds a significant share of the total cybersecurity market. The industry frequently introduces new and improved financial products and services to enhance their business operations which makes it attractive for frauds to target sensitive customer information. While facilities such as smart banking, internet banking, and mobile banking the BFSI sector is required to prioritize the adoption of cybersecurity.

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

20 companies offering Cybersecurity Software in BFSI were analyzed, shortlisted and categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies.

IBM, Cisco, HPE, McAfee, Trend Mirco, and Symantec have been identified as visionary leaders as they have established product portfolios and a robust market presence and business strategy.

Check Point Software, Rapid7, Dell, Optiv, Logrhythm, FireEye, Fortinet, Palo Alto, Juniper Networks and Sophos have been identified as innovators as these vendors have a very focused product portfolio. However, they do not have very strong growth strategies for their overall business.

F-Secure, Webroot and Proofpoint have been identified as emerging companies. They do not have very strong business strategies as compared to other established vendors. They might be new entrants and require some more time before gaining significant traction in the market. Trustwave Holdings has been recognized as a dynamic differentiator.

Vendor evaluations are based on two broad categories: product offering and business strategy. Each category carries various criteria, based on which vendors have been evaluated. The evaluation criteria considered under product offerings include breadth of offering, delivery, features/functionality, product quality and reliability, and product differentiation. The evaluation criteria considered under business strategy include geographic footprint (on the basis of geographic presence), channel strategy and fit, vision alignment, and effectiveness of growth (on the basis of innovations, partnerships, collaborations, and acquisitions).

VISIONARY LEADERS

Visionary Leaders generally receive high scores for most evaluation criteria. They provide mature and reputable mobile cybersecurity solutions. They also have strong business strategies. IBM, Cisco, HPE, McAfee, Trend Mirco, and Symantec are the leading players in the cybersecurity software market and are recognized as leaders. These vendors are making their presence felt by offering services that are required by most organizations.

INNOVATORS

Innovators demonstrate substantial product innovation as compared to their competitors. They have a very focused portfolio of cybersecurity software solutions and the potential to build strong business strategies for their business growth to be on par with the leaders. However, they do not have very strong growth strategies for their overall business. Check Point Software, Rapid7, Dell, Optiv, Logrhythm, FireEye, Fortinet, Palo Alto, Juniper Networks and Sophos are recognized as innovators. Innovators have been at the forefront in deploying their services based on the clients’ custom software requirements for the niche market.

DYNAMIC DIFFERENTIATORS

Dynamic Differentiators are established vendors with very strong business strategies. However, they are low in the product portfolio. They generally focus on a specific type of technology related to the product.  In BFSI, Trustwave Holdings is recognized as a dynamic differentiator.

EMERGING COMPANIES

F-Secure, Webroot and Proofpoint are recognized as emerging players in the cybersecurity software market. The emerging players are specialized in offering highly niche and tailor-made solutions and services to their clients. They do not have very strong business strategies as compared to other established vendors. They might be new entrants in the market and require some more time before gaining significant market traction.

Cybersecurity Software

  • 1

    IBM offers category-wise products which include endpoint protection, network protection, mainframe security, application security, data security, security intelligence and operations, advanced fraud detection, cloud, and mobile security and IAM. IBM Identity and access management services help in protecting an organization from breaches, enhances productivity and competitiveness, and achieves and maintains regulatory compliance. It helps in increasing the maturity of the program with identity and access management services from IBM Security. IBM solutions help in detecting and stopping advanced threats. It automates threat detection and response across the enterprise. 

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    • Enterprise
    • New York, USA
    • Founded: 1911
    • $50BN to $100BN
    • 1,00,001 to 5,00,000
  • 2

    HPE security protects digital assets with reassurance from the HPE risk management and digital protection service. HPE offers a different product such as security management, threat, and vulnerability defense. Security Information and Event Management (SIEM), security monitoring, data encryption, and key management, and data protection products included in the security management category. HPE security services provide comprehensive, redundant protection that guides servers and data from threats that exist and threats for the future. Its security risk management workshops, assessments, architecture, design and integration services accelerate digital transformation. HPE addresses vulnerabilities in applications and connection and builds security and compliance into the business.

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    • Enterprise
    • California, USA
    • Founded: 2015
    • $10BN to $50BN
    • 1,00,001 to 5,00,000
  • 3

    McAfee’s strong portfolio of solutions and services, and the ability to serve a wide customer base has helped the company build a strong customer base across multiple regions. McAfee’s innovative offerings make it one of the most trusted and deployed solution providers in the market. The company plans to develop new business models and integrate multi-application solutions as a part of its future strategy. Furthermore, the company plans to expand its presence and strengthen its market position by adopting effective partnership strategies.

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    • Enterprise
    • California, USA
    • Founded: 1968
    • $50BN to $100BN
    • 1,00,001 to 5,00,000
  • 4

    Cisco offers products for a different category such as networking, wireless and mobility, security, collaboration, data center, analytics, video, IoT, and software. Security technology helps IT by simplifying security complexity. Small and mid-sized businesses use networking products of Cisco that secure the organization network architecture, manage connected devices, and make business decisions faster.

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    • Enterprise
    • California, USA
    • Founded: 1984
    • $10BN to $50BN
    • 50,001 to 75,000
  • 5

    Through Cloud Migration, Trend Micro provides businesses with flexibility in protecting their cloud throughout the migration and expansion process. It facilitates businesses to gain better visibility and provides constant security throughout their cloud environments. The company's cybersecurity solution has the ability to collaborate with leading SIEM platforms to analyze telemetry data for advanced threat detection.

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    • Enterprise
    • Tokyo, Japan
    • Founded: 1988
    • $1BN to $5BN
    • 5,001 to 10,000
  • 6

    Check Point is one of the renowned security software solution vendors. The company is actively focused on providing advanced security solutions for web, data, endpoints, and mobile devices. The cybersecurity solutions offered by Check Point help customers enhance the security layers of external and internal networks. The company provides security offerings that include security management, cloud security, endpoint security, data security, Unified Threat Management (UTM), mobile threat prevention, and network security. The company delivers IT services and security solutions, globally. Moreover, it is a provider of complete security architecture for protecting SMEs and large enterprises from ransomware, malware, and other types of sophisticated fifth generation cyber-attacks.

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    • Enterprise
    • Tel Aviv, Israel
    • Founded: 1993
    • $1BN to $5BN
    • 1,001 to 5,000
  • 7

    Symantec offers category-wise products offerings, which include endpoint and hybrid cloud security, information protection, messaging security, website security, small and mid-sized Business Security Solutions (SMB). Symantec's Website Security offers SSL, Code Signing, and Complete Website Security. SMB offers products such as Endpoint Protection Cloud and Encryption. It protects SMB by securing their website and products.

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    • Enterprise
    • California, USA
    • Founded: 1982
    • $1BN to $5BN
    • 10,001 to 15,000
  • 8

    Trustwave Managed Detection services analyses the log and event information coming from devices and applications. It helps fast and efficiently make sense of data by providing the platform, processes and people to monitor, detect and alert on threats. It also develop and maintain threat indicators and use cases focused on up-to-the-minute intelligence for both regional and global threats, all delivered by elite SpiderLabs team.

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    • SME
    • Illinois, USA
    • Founded: 1995
    • $101MN to $500MN
    • 1,001 to 5,000
  • 9

    FireEye has a strong portfolio of cybersecurity solutions, which include network, email, mobile, endpoint, forensics, file management and storage, and security management. . FireEye Helix, FireEye as a service, and threat intelligence come under the category of security operations. FireEye Helix is a unified security platform that simplifies, integrates, and automates security operations.

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    • SME
    • California, USA
    • Founded: 2004
    • $500MN to $1BN
    • 1,001 to 5,000
  • 10

    Palo Alto Networks offers category-wise products such as Next-Generation Firewalls, Virtualized Next-Generation Firewalls, Management (Panorama), Advanced Endpoint Protection, and SaaS Security. Next-Generation Firewalls include encrypted traffic, application function, based on application, user, and content. The company helps users in  reducing incident response time. It also monitors the firewall traffic, applies global policies, generates reports on patterns, and manages device configuration. 

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    • Enterprise
    • California, US
    • Founded: 2005
    • $1BN to $5BN
    • 1,001 to 5,000
  • 11

    Rapid7’s offers on-premise cybersecurity management solution called Nexpose, which helps in reducing the threat exposure by allowing the assessment and response to be able change in the real time environment and listing risk factors across vulnerabilities, configurations, and controls. Cyber attacks breaches the data at an alarming rate, the attack surface is constantly changing, the adversary is becoming quicker than security teams. Nexpose helps in understanding the attack surface and better security outcomes.

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    • SME
    • Massachusetts, USA
    • Founded: 2000
    • $101MN to $500MN
    • 1,001 to 5,000
  • 12

    The company offers products for networking security, routing, switching, application management and orchestration, software defined networking, network management, network edge services, network operating system, identity and policy control, and packet optical. In February 2017, the company partnered with Affirmed Networks to develop solutions.

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    • Enterprise
    • California, USA
    • Founded: 1996
    • $1BN to $5BN
    • 5,001 to 10,000
  • 13

    Fortinet has large category of product offerings such as next-generation Firewall, sandbox, endpoint security, Wi-Fi applications, switching, SIEM, web application firewall, cloud access security, email gateway, DDoS, IAM, and network testing. The company offers high-performance network security solutions to secure organization network, users, and data from threats.

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    • Enterprise
    • California, USA
    • Founded: 2000
    • $1BN to $5BN
    • 45,001 to 50,000
  • 14

    Optiv integrates the deep skills of application security with the knowledge and insight of a broader security solutions. Optiv Security allows organizations to mitigate risk by taking a planned method to cybersecurity. It’s aligned security programs to achieve specific business outcomes with full suite of service abilities from strategy to technology. It reduces security risks by designing an AppSec program that secures growing application environment and meets compliance requirements. It measures development practices and the efficiency of software development lifecycle (SDLC) frameworks to design a complete application security program. The company's Security Architecture and Implementation, navigates complex environments to help clients realize optimal value from their architecture, projects and technology decisions. 

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    • SME
    • Denver, Colorado, US
    • Founded: 2015
    • 1,001 to 5,000
  • 15

    Sophos is a global leader in the network and endpoint security and helps the organization in data security. The company offers product offerings for network, end-user, and server categories with professional services. The company's cyber security solutions are powered by deep learning and Synchronized Security. Sophos Home leverages AI to detect and manage advanced viruses, malware, exploits, and ransomware attacks.

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    • Enterprise
    • Oxfordshire, UK
    • Founded: 1985
    • $500MN to $1BN
    • 1,001 to 5,000
  • 16

    Dell Endpoint Security Suite Enterprise integrates innovative threat prevention with unmatched efficiency against threats and commodity malware. It uses exclusive artificial intelligence (AI) and active mathematical models to analyse files prior to their implementation and determine which are safe and which aren’t, thus restricting malware before it can run. It is built on thousands of indicators derive from careful analyses of millions of real-world activities and known good files. Dell stop threats without cloud connection or frequent updates. The intelligence is built into the endpoint either on physical device or a virtual machine. Dell identify the advanced threat prevention through Dell commercial system BIOS on boot and quickly alert administrators of any possible BIOS tampering.

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    • Enterprise
    • Texas, USA
    • Founded: 1984
    • $50BN to $100BN
    • 1,00,001 to 5,00,000
  • 17

    Proofpoint Targeted Attack Protection (TAP) is advanced software that comes with innovative approach that senses, examines and restrict advanced threats before it reaches inbox. This includes ransomware and other advanced email threats delivered through malicious attachments and URLs polymorphic malware, weaponized documents and phishing attacks. It also detects threats and risks in cloud apps, connecting email attacks related to credential theft or other attacks.

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    • Enterprise
    • California, USA
    • Founded: 2002
    • $500MN to $1BN
    • 1,001 to 5,000
  • 18

    Logrhythm has developed a platform to seamlessly scale with organization and help detect and respond to threats faster. The LogRhythm NextGen SIEM Platform eliminates blind spots across the enterprise, providing visibility into IT and OT environments. Logrhythm Next-generation solutions plots modern security teams need by improving collaboration and effectiveness through automation and defined processes. The company provides a unified user experience that drives highly efficient workflows, offers real-time visibility into endpoints, and produces assessable results. Logrhythm end-to-end platform helps in detecting threats early in the threat lifecycle. 

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    • SME
    • Colorado, USA
    • Founded: 2003
    • $101MN to $500MN
    • 1,001 to 5,000
  • 19

    F-Secure provides a wide range of cyber security solution, which include endpoint protection, cloud protection, advanced threat protection, network protection, email protection, and vulnerability management. The company's solutions enable businesses to be updated with the latest status of threats and incidents by providing customized reports on risk and compliance. F-Secure Protection Service for Business is a cloud-based endpoint protection solution that secures management portals, comupters, mobile devices and servers. 

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    • SME
    • Helsinki, Finland
    • Founded: 1988
    • $101MN to $500MN
    • 1,001 to 5,000
  • 20

    Webroot BrightCloud Threat Intelligence Services protects customers from malicious URLs, IPs, files, and mobile apps by integrating accurate and near real-time threat intelligence into network and endpoint protection. The platform scans billions of IP addresses and billions of URLs across millions of domains, in addition to millions of mobile apps, and leverages machine learning to classify and categorize each according to the threat it represents to business. The company offers tools for protecting data from the most common forms of data loss, including ransomware, accidental deletions, hardware failures, and natural disasters. 

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    • SME
    • Colorado, USA
    • Founded: 1997
    • $101MN to $500MN
    • 101 to 500

Cybersecurity Software in BFSI Quadrant

Comparing 31 vendors in Cybersecurity Software across 130 criteria.

Find the best Cybersecurity Software solution for your business, using ratings and reviews from buyers, analysts, vendors and industry experts

EVALUATION CRITERIA

Below criteria are most commonly used for comparing Cybersecurity Software tools.
  • Breadth and Depth of Product Offerings
    • Licenses
    • Security Type
      • Network 
      • Endpoint 
      • Application 
      • Cloud 
    • Products/Solutions Offered
      • Identity and Access Management (IAM)
      • Risk and Compliance Management 
      • Encryption 
      • Unified Threat Management (UTM)
      • Firewall 
      • Antivirus/Antimalware 
      • Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
      • Security and Vulnerability Management 
      • Disaster Recovery 
      • Distributed Denial of Service (DDoS) Mitigation
      • SIEM
    • Add-on Product/Solutions
      • Others
  • Product Features and Functionality
    • Services
      • Professional Services
      • Managed Services
    • Professional Services
      • Consulting
      • Support and Maintenance
      • Training and Education
      • Risk & Threat Assessment
  • Delivery
    • End Users
      • System Administrator
      • Others, Please Specify
    • Deployment Model
      • On-Premises
      • Cloud
    • Delivery Mode for Client Location
      • Full Time Equivalent
      • Subscription / Licensing
    • Channel of Delivery
      • Directly
  • Support and Services
    • Level of Support
    • Customer Redressal Mechanism/Program
    • Pre Sales Support
      • Software Requirement Specification (SRS)
      • Product Demos
      • Proof of Concept
      • Dedicated Account Manager (DAM)
    • Channel for Delivery of Support Services
      • On-Site Support
      • Remote Support

TOP REVIEWS

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Head - Product Management,Buyer Healthcare
Head - Product Management, Buyer Healthcare
#25 in Cybersecurity Software

“Integrated security platform "

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It is a complete, shared security platform that comprises SecureSphere Web, Database and File Security. It is very well scales to meet the data center security demands of even the largest organizations.
Chief Product Manager,Company Name Classified
Chief Product Manager, Company Name Classified
#25 in Cybersecurity Software

“HTTP Protocol, Platform, and XML Protection"

(*)(*)(*)(*)(*)5
SecureSphere applies HTTP standards compliance to stop protocol exploits and evasion techniques. It protect the entire application infrastructure including applications and web server software. Flexible, automated XML security policies protect web services, SOAP, HTML 5 Web Sockets and Web 2.0 applications.
Head - Product Management,Buyer Healthcare
Head - Product Management, Buyer Healthcare
#25 in Cybersecurity Software

“Granular Correlation Policies Reduce False Positives"

(*)(*)(*)(*)( )4
One of the best feature SecureSphere offers is it differentiates threats from uncommon, but real, behaviour by relating web requests across security layers and over time. SecureSphere relate Attack Validation capability inspects various characteristics such as HTTP protocol conformance, profile violations, signatures, special characters, and user reputation, to exactly alert on or block threat with the lowest rate of false positives in the industry.
Head - Product Management,Buyer Healthcare
Head - Product Management, Buyer Healthcare
#25 in Cybersecurity Software

“Customizable Reports for Compliance and Forensics"

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SecureSphere provides rich graphical reporting capabilities that allow customers to easily understand security status and meet regulatory compliance. SecureSphere offers both pre-defined and fully-customizable reports that rapidly assess security status and streamline demonstration of compliance with PCI, SOX, HIPAA and FISMA and other compliance standards.
Head - Product Management,Buyer Healthcare
Head - Product Management, Buyer Healthcare
#25 in Cybersecurity Software

“Out-of-the-box SIEM Integration"

(*)(*)( )( )( )2
I really liked the integration of SecureSphere WAF with most of the leading Security Information and Event Management (SIEM) systems such as Splunk, ArcSight, RSA enVision and others. SecureSphere WAF events in any SIEM are automatically indexed and are easily searchable for fast incident response. SecureSphere WAF transfers events as syslog messages in Common Event Format (CEF) and JSON format.
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Marie Stelle

Engagement Partner - 360Quadrants.com