Raiz beefs up security with AI

Micro-investing platform Raiz Invest struck a deal with a US-based cyber security firm to help protect the platform from hackers.

Raiz appointed Seattle-based Versive to deploy its security engine in the platform, which grows at over 20% per quarter.

Now with more than $200 million in funds under management, Raiz said it wanted to increase its level of security. According to Versive, its technology is an upgrade on Raiz' current "bank-level" security offering.

According to a release, Versive offers a security engine built on a proprietary machine-learning platform which will allow Raiz to identify subtle patterns across the platform, pointing to potential threats earlier. The platform uses artificial intelligence to separate real threats from standard network "noise", and makes use of continuous situational awareness to detect hacker's attempts on the system, "regardless of what new tools, tactics or exploits they use."

Raiz chief executive and managing director George Lucas said the technology put Raiz at the cutting edge of cybersecurity.

"As our company grows quickly, we are tasked with maintaining both our level of service and the sacred trust of safeguarding customers' data and money," Lucas said.

"The Versive Security Engine ensures that we are on the cutting edge of cybersecurity because it is one the most sophisticated technologies to protect our customers and investors from data breaches."

Versive chief executive Joe Polverari said understanding the need to secure customer data of utmost importance for financial services companies.

"Hackers and other bad actors have the time and resources to successfully find an entry point into your network. Financial services companies like Raiz understand that securing their customer's information is of utmost importance," Polverari said.

"That's why VSE is the critical missing piece in a company's security portfolio, delivering the most dangerous threats that are already within the network so that security teams know what to focus on to avoid breaches."

Read more: Raiz InvestGeorge LucasJoe PolverariVersive Security EngineVSE
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