SICO BSC, a regional asset manager, broker, market maker, and investment bank (licensed as a wholesale bank by the CBB) has signed a contract with Beyon Cyber for managed cyber security services.
The partnership, which was signed by SICO CEO Najla Al Shirawi and Beyon Cyber’s CEO, Dr. Shaikh Khalid bin Duaij Al Khalifa, will lead to enhancing the cyber security maturity of SICO’s IT Infrastructure to accelerate its digital transformation journey further.
The banking and finance sector in Bahrain has been transforming digitally through the application of emerging technologies. As a result, the sector has become increasingly vulnerable to cyberattacks, increasing the importance of protecting the enterprise against rising cyber threats and losses. SICO has selected Beyon Cyber with its unique profile and vast experience as a partner on this mission.
Commenting on the partnership, SICO’s CEO Najla Al Shirawi said, “We are pleased to partner with a distinguished national company providing sophisticated and much needed cyber security solutions enabling us to manage and mitigate business risk.”
SICO’s Head of Information Technology Mohammed Ibrahim added, “We look forward to benefit from Beyon Cyber’s managed cyber security services to strengthen the bank’s IT Infrastructure and cyber architecture protecting our digital transformation solutions against external cyber threats.”
“The rapid growth of digitization in recent years has led to increased opportunities for potential cyber-attacks and that is the reason we are working side by side on the cyber security enhancements as well as the digitalization strategy ensuring the strongest cyber security measures are in place. We are very confident that Beyon Cyber will provide the expertise and solutions we need to achieve our cyber security plans & targets.”
Beyon Cyber’s CEO, Dr. Shaikh Khalid bin Duaij Al Khalifa commented, “We are delighted to have been selected as the security services provider for SICO, as it enables us to support their exciting innovation strategy towards digital transformation. We believe that a strong digital strategy needs to be built on secure foundations with embedded principles of security by design. This partnership allows us to bring our years of experience in cyber threat monitoring and response to SICO to help protect them against advanced cyber threats,” Dr. Khalid said.
Dr. Khalid added, “The contract with SICO falls under Beyon Cyber’s strategic plans to offer world class and affordable cyber security services to financial institutions across the country in compliance with the Central Bank of Bahrain (CBB) guidelines.”
Beyon Cyber, which launched in January, is a subsidiary of Batelco and is focused on offering advanced end-to-end cyber-security solutions, with managed services and advisory to organizations across Bahrain and across the region. Supported by a team of highly skilled professionals, the company leverages on an exclusive network of global partnerships to deliver simple, cost-effective, world-class security services to customers, and enable them to accelerate their digital potential.