Cipherpoint Ltd, through its subsidiary Brace168, has partnered with Sandstone Technology to provide cybersecurity services to the Australian software and technology company.
Brace168 has been engaged to provide various cybersecurity services to Sandstone, which delivers digital lending, banking and customer acquisition software products and services.
Sandstone will act as a channel to Brace168’s customers across financial service institutions, banking and insurance industries.
To kick off the three-year channel arrangement, Brace168 will conduct a security assessment for a Sandstone client to the value of $13,500 with other opportunities expected to follow.
“At Brace168, we are changing the way companies look at their application security and are pleased to work with leaders in Fintech such as Sandstone,” Brace168 chief operating officer Matt Miller said.
“The Master Services Agreement (MSA) represents our confidence in Brace168’s capacity to provide a vast experience in managed security services to meet the needs of all financial services sectors,” Sandstone chief technology officer Chaitanya Pinnamaneni said.
Agreement with Ingenia
Brace168 has also signed a two-year agreement with Ingenia Communities Group to provide a Managed Detection and Response (MDR) solution, with a total contract value of $720,000.
The contract includes set-up, a monthly managed service and reporting.
Not-for-profit partnership
The Cipherpoint subsidiary also announced it will be providing security services to Guide Dogs NSW and ACT.
Through its MDR Security Operation Centre, Brace168 will manage the cyber security environment for the Guide Dogs with 24-7 monitoring and response services, to identify any gaps and anomalies in the not-for-profit's critical cyber assets.
The two-year contract has an estimated value of $55,000, in addition to pro bono services to the value of $60,000.
This heralds important inroads the company is making into service provision to the not-for-profit community in Australia – Brace168 aspires to target further cyber security opportunities in this sector.