OXIAL, the new generation Governance, Risk & Compliance (GRC) software solutions provider headquartered in Switzerland, and Global Data Sentinel (GDS), a New York-based leading cyber security solutions provider for information protection and data security and Mice360, a cybersecurity think tank and accelerator based in Washington, DC, have signed an agreement to jointly develop the next-generation of GRC solutions for the public and private sector markets.
The new solution will bring together real-time analytics and automation from OXIAL’s full-featured GRC suite and GDS’ cybersecurity and information protection capabilities to deliver an end to end solution for data privacy (GDPR) and cybersecurity that incorporates best-practice standards, enterprise rights management, and numerous regulatory frameworks across multiple risk scenarios (including AML/KYC, fraud, financial, IT, process and business).
“The recent introduction of the EU’s General Data Protection Regulation (GDPR) legislation has brought about the convergence of enterprise policies and technology,” said Eric Berdeaux, CEO and founder of OXIAL. “By partnering with GDS we are bringing together the best-of-breed solutions to solve the increasingly overlapping needs of GRC and cybersecurity. From GDPR in the European Union, to other regulatory frameworks elsewhere in the world, such as the New York State Department for Financial Services (NYDFS) legislation that oversees the majority of U.S. banking and financial services firms, including Wall Street, we’re developing solutions that solve the needs of our customers and bring them peace of mind when it comes to managing complex organisational and regulatory mandates” he added.
“We are extremely pleased to be partnering with the team at OXIAL, who have demonstrated their ability to deliver industry-leading GRC software solutions for customers in highly regulated markets such as banking, insurance, healthcare, and the public sector,” said John-Philip Galinski, CEO and founder of Global Data Sentinel. “With the exponential growth of data breaches from cyberattacks and internal threats, and the resulting legislation we’re seeing as a result, including the precedent of monetary enforcements from HIPAA and others in the U.S., it is logical that organisations will be eager to work with solutions providers that integrate GRC with cybersecurity and mitigate the risk up-front. Recent legislation has changed the needs of the market considerably, and we believe we have a tremendous partner in OXIAL to help meet the demand we are seeing.”
“The current market regulations implemented in Europe and the new cybersecurity initiatives announced by the White House, will require near real time assessment, reporting and compliance. The uniqueness of GDS’ data security solution combined with Oxial’s powerful reporting platform, allows the C-suite to ascertain that they are maintaining a complete level of compliance needed, with a powerful combination not previously available to the market”, said Shahal Khan, Partner of Mice360, Inc.