QuoScient and Boston Consulting Group (BCG) have entered into a strategic partnership to provide financial institutions with even more comprehensive protection against cyber attacks. “Banks are facing a rapidly increasing number of cyber attacks,” says Gerold Grasshoff, BCG Senior Partner and Head of Consulting in the banking sector for Germany and Austria. For example, 50 British institutes reported such attacks last year – in 2013 there were only five. “Against the backdrop of increasing risk, regulators are tightening conditions for banks. This also increases the pressure to improve IT security,” explains Grasshoff.
The Boston Consulting Group is responding to the growing needs of its clients by expanding its consulting services through a strategic partnership with the tech specialist QuoScient. While BCG advises clients on strategic, organizational and regulatory issues relating to cybersecurity, QuoScient brings technical expertise to the partnership. This also includes its platform solution to support operational security operations.
“Through the partnership with QuoScient, we support customers in cybersecurity along the entire value chain from a single source, from strategy development to day-to-day operations,” says Gerold Grasshoff. Fabien Dombard, CEO and co-founder of QuoScient, is convinced: “In this combination – together with our QuoLab solution – we offer financial institutions closely integrated support without frictional losses, which is a decisive advantage, especially in the sensitive area of cybersecurity”. Both companies have already proven their successful cooperation in several project-related cooperations. One result of this cooperation is the study Banking’s Cybersecurity Blind Spot – and How to Fix It published in August, which shows the current challenges and possible solutions.
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