Source: Cleafy

In the ever-evolving landscape of banking and financial security, new malware variants poses a significant and imminent challenge.

Traditionally, both the identification and classification of these threats only occurred post-attack, leaving banks and financial institutions vulnerable to substantial losses and reputational damage. Today, Cleafy has unveiled groundbreaking technology to proactively classify, detect and respond to new malware variants in real-time, providing an innovative solution to an escalating problem. This product update comes as a result of a recent cash injection powered by Italian blue-chip VC, United Ventures and is the first in a series of feature launches planned in the coming months.

New malware variants often go undetected by traditional security measures, allowing cybercriminals to exploit vulnerabilities and launch attacks that go undetected. These variants are distributed through various channels, including email attachments, compromised websites, and phishing attempts.

Last month's product launch addressed this exact challenge.

Starting today, Cleafy can detect malware in real-time and classify new malware variants within seconds, dramatically accelerating the traditional weeks-to-months-long process. Cleafy's platform detects and combines signals within mobile and web applications or on the device ecosystem and network, offering complete visibility into digital channels. Once a new malware variant is classified, the newly isolated malware signature is immediately propagated to all instances of the Cleafy platform across its entire network. The continuous matching capability, a crucial part of this new product release, ensures that all Cleafy customers can detect the new malware variant in real-time, without the need for time-consuming retro-matching activities.

Current estimates put industrial cybersecurity spending at $20 billion dollars per year and growing. As machinery gets connected to networks, the potential points of failure drastically increase. However, new online banking and fintech solutions are often left in the dark. Cleafy was born out of the need for banks and financial institutions to adopt proactive measures to combat new malware variants. The company employs advanced threat detection and analysis techniques, such as application and device integrity checks, and behavior-based analysis, supported by real-time AI engines.

“We’re excited about today’s launch. When it comes to new threats detection and classification, real time AI capabilities can be game-changing. ” said Matteo Bogana, CEO at Cleafy. “Hiring industrial cybersecurity specialists is hard; the Cleafy platform was built with banking ecosystems in mind, and enables your existing team to watch over these critical environments while preserving uptime, reliability and user experience.”

Cleafy's real-time AI mechanisms provide a swift response to new malware variants, enabling banks to protect their customers automatically without disrupting the service. Furthermore more, the solution equips analysts with the necessary information to understand the nature and capabilities of the detected malware, along with off-the-shelf suggestions for response rules to maintain an optimal security posture.

Trained on 8 years of malware telemetry data, the power behind Cleafy's AI technology lies in its foundation of AI models. The years of collected data provide Cleafy with a deep understanding of malicious behaviors, allowing it to stay ahead of emerging threats and provide robust proactive cybersecurity solutions. The company recently raised a €10 million Series A led by United Ventures.