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Banking technology helps secure defence industry


Cyber security technology developed for banking is being used to protect small defence businesses so they can bid for large contracts.

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Australian company VeroGuard Systems has developed a unique technology that enables online authentication and encrypted transmission across fixed and mobile networks with military and banking level security.

VeroGuard Co-CEO Nic Nuske said the system used anchored ID and multi-factor authentication to be the first and only secure open internet-based login to the cloud and enterprise networks.

“Every single day there’s trillions of dollars being interchanged between the banks using the same security protocols we have in this solution,” Nuske said.

“But it’s the first time ever you can put it into an environment where it’s switching between pretty much any machine or device and guaranteeing the authenticity of the user, which then means you can take almost any device or application onto the Cloud and know that it’s completely protected.”

The Melbourne-based company was lured to Adelaide in November by Investment Attraction South Australia, an agency set up to bring innovative companies to the state, and then introduced to South Australia’s large defence industry by the Defence Teaming Centre (DTC).

South Australia is a key hub for Australia’s defence industry and is home to several major defence companies including the Australian Submarine Corporation, BAE Systems, Raytheon and SAAB.

Defence Teaming Centre CEO Margot Forster said the DTC linked VeroGuard with South Australian company OpSys after recognising the benefit that a collaboration could bring to small businesses wishing to work in the defence sector.

The two companies are now integrating VeroGuard’s identity, cyber security and integration platform into OpSys’ global first cyber defence service built upon FireEye’s Helix platform. It will be monitored from OpSys’ 24×7 Security Operation Centre in Adelaide.

“The development partnership will offer significant value and benefit to businesses pursuing opportunities in the Defence sector, allowing them to meet recommended industry guidelines and certifications with a proven and affordable solution already using military level security”, said DTC’s Forster.

OpSys is a multi-disciplined team built around the core aim of providing an extended IT department, and offers a range of IT solutions for business.

“Companies wanting to protect their business from cyber-crime or position themselves to win work with defence need a defence-grade solution at an affordable price,” OpSys CEO Matt Fabri said.

Nuske said South Australia’s strong defence industry links, skilled workforce, logistics capability and focus on the Internet of Things made Adelaide an “obvious choice” for VeroGuard’s Advanced Manufacturing operations.

“The significant growth of defence and the kinds of people and companies it was attracting were very well aligned to us and the community we want to be a part of,” he said.

VeroGuard is building an advanced manufacturing centre in Adelaide to ramp up hardware production. It initially planned to reach 600 employees in Adelaide within three years but now expects that growth number could be as high as 1500. Nuske said the plan was to have about 60 people in a temporary facility by the middle of this year until the new building in Adelaide’s northern suburbs was opened around the middle of 2019.

“South Australia has now become very core to our business and it’s going to deliver elements that are going to be critical to our success.”

This is a Creative Commons story from The Lead South Australia, a news service providing stories about innovation in South Australia. Please feel free to use the story in any form of media. The story sources are linked in with the copy and all contacts are willing to talk further about the story. Copied to Clipboard

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