New York, NY – November 06, 2024 – BforeAI, the world’s fastest and most accurate predictive attack intelligence and digital risk protection solution, announced today the company has been recognized in the 2024 Gartner Cool Vendors for Artificial Intelligence in Banking and Investment Services. The report serves as a guide to help chief information security officers (CISO), chief information officers (CIO), and chief data officers (CDO) in financial services and cyber fraud fusion centers identify solution partners for quick detection of risks and preemptive action before a fraud attempt even happens.
The report states “AI remains one of the most dominant emerging technologies in the banking and investment services industry with 77% of CIOs reporting that their enterprise has deployed or is planning to deploy AI in the next 12 months.” According to Gartner, “this research does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services.” It provides recommendations for banking and investment CIOs to take their AI strategies forward, including:
■ “When assessing an AI solution for improving risk, fraud and compliance, evaluate the quality and reliability of its outputs, as well as the processes in place to maintain accuracy over time. Ensure these solutions can integrate with your existing workflows to maximize value and minimize disruption.
■ Start evaluating preemptive cybersecurity solutions to detect and mitigate cyberthreats before they occur, protecting sensitive financial data and preventing fraud.
■ Integrate AI governance solutions to identify and reduce bias, and improve explainability and transparency of AI/ML models. This will ensure fairness and regulatory compliance in areas like credit underwriting and fraud detection.”
“We believe that being recognized by Gartner as one of the Cool Vendors for banking and investment services further validates our mission to innovate and develop cybersecurity to a preventive posture,” said Luigi Lenguito, Chief Executive Officer (CEO) of BforeAI. “Our platform is built so that financial institutions can understand the threats, and identify and block fraudsters before they can cause financial or reputational damage. We are harnessing the power of behavioral artificial intelligence to reshape the future of online fraud detection so that organizations can predict and eliminate threats before they emerge.”
Finance is the world’s most targeted industry for cyber attacks. BforeAI addresses this critical challenge by predicting and preempting cyber crimes before they happen, protecting organizations from damaging cyberattacks. Its patented AI technology, combined with hyperscale observation infrastructure and modern APIs, serves to augment banking and investment services’ security postures by delivering fast, internet-wide observation capabilities, no-touch automated AI threat analysis, and instant remediation through built-in capabilities.
For more information, visit: https://bfore.ai/cool-vendor.
About Gartner
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and COOL VENDORS is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner, Cool Vendors for Artificial Intelligence in Banking and Investment Services by Jasleen Kaur Sindhu, Uri Lerner, and Pete Redshaw, November 6, 2024.
About BforeAI
BforeAI is a pioneer in Predictive Attack Intelligence, Preemptive Cyber Defense and Digital Risk Detection. Our PreCrime™ platform uses behavioral AI to predict and automatically preempt malicious campaigns, resulting in the fastest, most accurate solution to stop attacks weeks before they happen. BforeAI was recently named one of Gartner’s Cool Vendors for Artificial Intelligence in Banking and Investment Services, 2024. To learn more, visit bfore.ai.
Media Contact:
Andy Tzortzinis
Director of Brand and Product Marketing
BforeAI
[email protected]
