Wealth services firm JTC has partnered with UK-based RegTech company Tessian in a move to reduce risk around emails.
JTC said it has an ever-increasing requirement to prevent data loss and its primary risk was sensitive information being inadvertently sent to the wrong recipient or to unauthorised accounts.
After looking around the market, JTC dismissed legacy rule-based solutions, and opted for Tessian’s alternative approach.
London-based Tessian uses machine intelligence to understand normal email communication patterns in order to automatically identify email security threats, without the need for end user behaviour change or pre-defined rules and policies.
“Tessian stands head and shoulders above other providers, it requires no admin and creates zero disruption for employees. The technology directly helps our business in solving critical problems and we were very impressed with this,” says Adam Jeffries, JTC Chief Information Officer.
“We recognised that misaddressed emails were a large risk and went to market to find the best solution. We implemented Tessian before GDPR and hence prevented breaches from occurring. Tessian absolutely solves this problem for us.”
Recently listed on the London Stock Exchange, JTC initially focused on outbound threats like misaddressed and unauthorised emails, and thus selected Tessian Guardian, Enforcer and Constructor modules.
Tessian recently launched Defender, a new machine intelligent solution that automatically prevents strong-form impersonation spear phishing attacks. With spear phishing tactics outsmarting legacy rule-based systems, the RegTech has developed a new email solution to protect enterprises from these inbound threats.
When Tessian launched Defender to prevent against Strong-Form Impersonation attacks, JTC pre-registered for the solution.
“Enterprises must contend with a vast array of scenarios where email can be used or abused to cause severely damaging yet avoidable incidents for the business,” says Tim Sadler, CEO and co-founder at Tessian.
“This is especially true for JTC and other firms that are dealing with highly sensitive financial information. Machine intelligence can give organisations a way to learn normal sending patterns and automatically step in to check or prevent something that appears out of character or breaks policy. This mitigates any interruption to innocuous email use, meaning employees and IT teams won’t have to deal with needless, time-consuming administration.”
Earlier this year, Tessian raised $13m in fresh funding. The Series A round was led by Balderton Capital with participation from existing investors, Accel. Amadeus Capital Partners, Crane, LocalGlobe, Winton Ventures and Walking Ventures also took part in the round. As part of the investment, Balderton partner Suranga Chandratillake and Accel Partner Luciana Lixandru have joined the board.
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