The technology company Armatum has developed the first platform for the quantification of technological risk in Spain. Launched in 2023, this service uses artificial intelligence developed in our country to determine the optimal investment that a company or institution should make in its technological development, indicating the economic losses that it may suffer if it does not do so if, for example, it suffers a cyber attack.
Now the company, which is part of the Spanish technology group ABAI, ha reinforced its platform to evaluate the damage that may arise from non-compliance with recently implemented regulations, such as DORA and NIS2. The new European legislation aims to improve cybersecurity in all EU member states and its application can lead to significant fines for companies that fail to comply with its guidelines.
The DORA regulation, which mainly affects banks and insurance companies, will become mandatory in January next year, while NIS2 expands the scope of EU cybersecurity regulations to new sectors and entities starting next October. to improve incident response capabilities. It affects all EU organisations, industrial and non-industrial, including their suppliers.
All the risks of non-compliance with this new legislation are now assessed by Armatum’s technological platform, which allows any organization to measure and communicate its technological risk in financial language. Its system indexes potential economic losses with vulnerabilities, creating improvement plans with efficient investments to optimize the company’s profitability.
Banks and insurance
With these new updates, Armatum improves its usability and becomes the ideal tool for compliance with the requirements established by DORA and NIS2 for risk assessment, training and information to executive management, digital operational resilience testing and periodic risk review derived from third parties.
In addition, it meets the Risk Analysis requirements provided for in regulations such as ISO 27001, 27005, 22301, PCI-DSS and includes a results report with a supporting economic report that can accompany the investment proposal of the Security Master Plan, facilitating, among others, :
• Justification of investments in cybersecurity
• Technological ‘due diligence’
• Marketing and subscription of cyber risk policies
“This tool provides a differential competitive value, being able to identify, audit your security status and communicate the statistical risks of your organization,” he points out. Manuel Carpiocybersecurity director at Armatum. “The platform is easy to use and offers customization options to adapt to the specific needs of each organization,” he adds.
Armatum offers comprehensive, customizable reports that provide a clear and detailed view of risk assessment results. They include economic, quantitative and qualitative assessments of the identified risks, as well as specific and practical mitigation recommendations.
