Dunbar Digital Armor, the cybersecurity services division of Dunbar Companies, announced a partnership on Wednesday with NASDAQ OMX to protect access to FinQloud, a cloud-computing service for the financial industry. Dunbar Digital Armor’s services will help manage FinQloud’s Regulatory Record Retention (R3) storage solution, which allows broker dealers to store and manage trade data in order to comply with “archival and retrieval requirements at substantially reduced cost and complexity,” according to the press release.
The strategic partnership with NASDAQ could eventually be expanded as a service to customers outside the financial industry, said Chris Ensey, chief operating officer at Dunbar Digital Armor, who spoke yesterday at a press event. “The idea behind this is for high-frequency trade organizations in the capital markets,” he said. “This has great applicability because of the fact that while these guys have to have this trade data stored for so many years in most cases, other organizations in our customer base have similar requirements.”
“If you have mortgage documents that you have to keep for x-number of years, and you’re storing them either on paper in a warehouse or you have them on hard drives sitting in your office, there’s great potential for a loss there,” he said.
Alongside the announcement of the partnership with NASDAQ, Dunbar Companies also formally unveiled its new technology center in Hunt Valley, Maryland. Ensey used the unveiling as an opportunity to note some of the other cybersecurity offerings of Dunbar Digital Armor, which was launched in November of last year.
“From a services perspective Digital Armor is going into this space providing a simple-to-understand security service for businesses that are probably underserved in the market today,” he said. “A lot of times these organizations, from a retailer to a bank or healthcare organization, are limited in resources, especially when it comes to very boutique cybsecurity expertise. We have put together a platform essentially that allows us to take care of cybsecurity while they take care of their business.”