Bahrain-based banking institution SICO BSC has signed a contract with the region’s leading advanced end-to-end cyber security solutions provider Beyon Cyber for managed cyber security services.
The partnership will lead to enhancing the cyber security maturity of SICO’s IT Infrastructure to accelerate its digital transformation journey further, as per the statement.
SICO is a leading regional asset manager, broker, and investment bank, with more than $2.1 billion in assets under management (AUM).
Beyon Cyber’s CEO, Dr. Shaikh Khalid bin Duaij Al Khalifa stated that “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. 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.”
Commenting on the partnership, SICO’s CEO Ms. Najla Al Shirawi said that, “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.”
“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,” noted Mr. Mohammed Ibrahim, Head of Information Technology at SICO.
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.