In a significant advancement for the Spanish technology sector, the company Armatum has launched the first platform that uses artificial intelligence to quantify the economic risk associated with non-compliance with cybersecurity regulations such as DORA and NIS2. This innovative tool, developed entirely in Spain, allows companies to measure and communicate their technological risk in financial terms, offering a crucial solution in a time of increasing cyber threats.
Reponse to New European Regulations
Armatum’s platform arrives at an opportune moment, coinciding with the implementation of new European regulations designed to strengthen cybersecurity throughout the European Union. The DORA regulation, which will mainly affect banking and insurance entities, will come into effect in January 2025. Meanwhile, the NIS2 directive will expand the scope of EU cybersecurity standards starting in October 2024, impacting a broader spectrum of organizations, both industrial and non-industrial.
Key Platform Features
Armatum’s tool stands out for several innovative features:
Quantification of Risk: Uses AI to determine the optimal investment in technological development and quantify potential economic losses in the event of cyber attacks.
Compliance: Evaluates risks associated with non-compliance with the new DORA and NIS2 regulations.
Financial Language: Allows organizations to communicate their technological risk in economic terms understandable to senior management.
Efficient Improvement Plans: Creates optimized investment strategies based on the relationship between vulnerabilities and potential losses.
Benefits for Various Sectors
Armatum’s platform is positioned as an essential tool for various sectors, especially for banking and insurance. It facilitates compliance with requirements established by DORA and NIS2, including risk assessment, staff training, digital operational resilience testing, and third-party risk review.
Additionally, the tool complies with risk analysis standards outlined in regulations such as ISO 27001, 27005, 22301, and PCI-DSS. It provides detailed reports that include a justificative economic reasoning, useful for developing security master plans and justifying investments in cybersecurity.
Future Outlook
Manuel Carpio, Armatum’s cybersecurity director, emphasizes the competitive value of the platform: “This tool provides a differential competitive value, capable of identifying, auditing your security status, and communicating the statistical risks of your organization.” The ease of use and customization options are key aspects that Carpio highlights, indicating the platform’s adaptability to the specific needs of each organization.
With the launch of this platform, Armatum not only strengthens its position in the cybersecurity market but also contributes significantly to Spain’s technological advancement in this crucial field. The tool promises to be a valuable asset for companies seeking to navigate the complex landscape of cybersecurity and regulatory compliance in the digital age.