ebankIT, a prominent provider of digital banking solutions, has acquired SecuritySide, a Portuguese cybersecurity firm specializing in financial institutions, for an undisclosed amount. This strategic acquisition is set to significantly enhance ebankIT's capabilities in securing digital interactions and protecting financial services platforms.
SecuritySide, established in 2018 as a spinoff of ITSector, was founded by fintech specialists dedicated to developing innovative cybersecurity solutions. Operating globally from its software development hubs in Porto, SecuritySide offers a comprehensive suite of products. These include TrustFactor, a multifactor authentication solution designed for robust user verification; Mobile Protection Shield (MPS) for securing mobile applications; a sophisticated Risk Engine for transaction anomaly detection powered by machine learning; and Digital Documents Signature solutions. Additionally, the company provides expert services such as cloud consulting, DevSecOps consulting, and penetration testing, all aimed at safeguarding financial institutions against fraud and digital threats.
This acquisition represents a strategic move for ebankIT, allowing for the direct integration of SecuritySide’s robust cybersecurity expertise and solutions into its existing digital banking platforms. The combined offering will empower ebankIT to provide its financial institution clients with enhanced security features, including advanced authentication mechanisms, fortified mobile application protection, and real-time fraud detection capabilities. This integration is designed to deliver a more comprehensive and secure end-to-end digital experience, directly addressing the escalating landscape of cyber threats and regulatory demands within the financial sector.
Through this acquisition, the combined entity is positioned to deliver a more secure, resilient, and trusted suite of digital banking solutions. This move aims to strengthen the operational integrity for financial institutions and their customers globally, fostering greater confidence in digital financial interactions.