WeSecureApp, a new entrant in the BFSI vertical believes that Risk based Vulnerability Management apart from Threat Simulation that includes Red Team Assessment, Red Team Vs Blue Team assessments are the areas that have ample scope for collaboration and innovation. A start-up that began its operations in 2016, aims at both large companies as well as SMB’s not just in India but also internationally. In a recent interaction with Elets News Network (ENN), Venu Rao, Co-Founder and Chief Executive Officer (CEO), WeSecureApp talks about Strobes, awareness plans for Indian start-ups and focus areas for 2021.
1. What led to the inception of WeSecureApp?
2. With the robust digital inclination post covid, how helpful can be the offerings of WeSecureApp for the BFSI sector?
As employees work-from-home, utilization of multiple devices, surge in cloud adoption, the threat landscape has increased exponentially. Not just doing the security assessments but proper cyber hygiene training to employees is equally important. Our services in cloud security, advance threat simulation and social engineering including training were in great demand.
3. Since your inception in 2016, what major challenges and accomplishments did you come across, especially in the BFSI sector?
Being a new entrant in the market it was very tough for us to get inroads in the BFSI vertical. Because of our amazing team, hybrid methodology that helped in finding business logic vulnerabilities and great mitigation support, we were able to compete against the biggies in the market. Today our clients include Mutual Fund companies, Larger Enterprises and even funded start-ups.
The other challenge was that our solutions were pricy when compared to our competitors, but still we could compete because of our quality deliverables. Our clients still believe that we charge premium but they also acknowledge the value we bring.
4. What opportunities do you see in terms of collaborations with the banks, keeping the current scenario in mind?
We think Risk based Vulnerability Management apart from Threat Simulation that include Red Team Assessment, Red Team Vs Blue Team assessments are the areas we could collaborate with the Banks.
With such huge infrastructure, different kinds of assets and multiple vulnerability scanners, prioritization and vulnerability management is the need of the hour. Our product Strobes helps in security automation, and improves the vulnerability management by over 10 times.
Threat simulation is equally important as a measure to check the security posture of banks. Most importantly, we believe that Banks should check the efficiency of their SOC team by conducting Red Team Vs Blue Team exercises.
5. What are your growth plans for 2021?
We are hoping that the global markets would bounce back and there would be huge demand for new, innovative and cost-effective cybersecurity solutions. For 2021, we would like to market our product Strobes which is a Threat & Vulnerability Management Platform especially in the BFSI space. Our platform not only helps in improving the security posture but also helps in reducing the cybersecurity budgets by over 36%.
Apart from Strobes, we are keen to market our DevSecOps & Cloud Monitoring solutions to emerging tech companies which helps them to manage their application & cloud security without having a security team.
Our product & solutions cater to both large companies as well as SMB’s which gives us a great advantage to penetrate the market not just in India but also internationally.
6. How do you wish to make an impact on society?
With the increase in digital transformation, adoption of new technologies like IoT, Drones, Connected Cars etc, there has been a rampant surge in cyber-attacks.
We being the guardians of technology, our objective is to provide necessary awareness especially to Indian start-ups that don’t have deep pockets to invest in security. We wish to help them as a Security Advisor and also be a strategic security partner to achieve their security goals that help in enhancing their business and also adhere to global compliances & regulatory frameworks.