KYND Limited announced the launch of its cyber risk management services into the investment management sector, helping them see, understand and manage cyber risks that have cost the industry billions.
The sector, which includes private equity and venture capital organisations, will have full access to KYND’s innovative risk management technology and expert advisory support – designed to help these businesses quickly gain greater visibility and easily reduce complex cyber risks that affect investments across the globe.
Cyber risk in investment management has quickly changed from a threat on the horizon to a clear and present danger. These risks now present themselves as one of the biggest perils to investments of all sizes. In a recent survey by PWC, 52% of respondents indicated a drop in share value as a result of a cyber-attack, while more worryingly IBM’s 2021 report has estimated the cost of a single data breach sitting at around $5.7 million.
With all this in mind, managing cyber risk is essential to protecting vital investment capital and tackling threats that can potentially derail a business.
The launch into this sector is a result of the success already experienced by KYND in working with sector players across the EMEA, APAC and Americas regions. KYND, and the growing number of businesses it helps, are creating a safer environment for investments even as threats evolve, with support for every step of the investment cycle – including due diligence and portfolio management.
Championing a quicker and simpler approach to reducing portfolio exposure to threats, KYND was recently named “Most Innovative Cyber Risk Management Solutions Provider” by Wealth & Finance International in 2022. By enabling investment managers to see risk at a glance, for each individual investment and at a portfolio level, while at the same time providing clear and prioritised recommendations on fixes; KYND makes identifying and reducing risk simpler.
Andy Thomas, KYND’s CEO, comments: “We’re excited for the opportunity to further leverage our expertise and offer the support the sector clearly needs. In the face of an evolving threat landscape, being able to get a handle on risk and ensure an asset retains a good cyber posture is more important than ever. Offering the right tools and advice to every organisation regardless of size or location has allowed us to make a global impact. With the latest award win, we’ve received that all-important recognition that we’re helping protect investment capital through our innovative cyber risk management technology.”