After cybercriminals hacked into some of the world’s biggest banks, a group of cybersecurity firms plan to launch software which will facilitate faster communication between companies about any potential cyber threat.
The software, Soltra Edge, gathers information from different sources and converts them into the structured threat information expression (STIX) format. It then prioritises the most important information and sends it to the security service to block the suspected threat.
As the software is designed to allow the flow of threat intelligence between companies, organisations will be able to manage data, set security controls and have sharing capabilities.
The Wall Street Journal reported a Soltra spokeswoman saying: "Overall response time could be reduced to a few seconds from an average of seven hours when a bank analyst has to chase down threat information, such as suspicious IP addresses and forms of malware."
Soltra Edge is a product of Soltra, which is a joint venture between Financial Services Information Sharing and Analysis Centre (FS-ISAC) and Depository Trust and Clearing Corporation (DTCC). 16 banks including JPMorgan, BB&T, Citigroup, and U.S. Bancorp have funded the project.
