Lloyds Banking Group secures patent for cybersecurity tool
Lloyds Banking Group has secured a patent for it’s new cybersecurity tool Global Correlation Engine (GCE) , this tool uses algorithms to sport genuine threats rather than false positives.
Since implementing the GCE, Lloyds Banking Group has significantly reduced false positive investigations while minimizing the risk of overlooking genuine attacks.
The company is continuing to develop the GCE, incorporating multiple layers of algorithms, including artificial intelligence, to further enhance its capabilities.
Lloyds has received its first-ever patent from the Intellectual Property Office for an innovative GCE methodology that utilizes intelligent algorithms to analyze cybersecurity alerts and identify potential genuine threats. Granted in both the UK and the US, this patent will enhance the system further, enabling the Group to concentrate its resources on investigating and addressing real cyber threats.
Matt Rowe, chief security officer at Lloyds Banking Group, said: “Our Global Correlation Engine is an exciting innovation that will allow us to identify genuine threats more quickly and efficiently, ensuring customers are protected. We’re working to develop the Engine further, using artificial intelligence to supercharge its capabilities. This innovation, developed by our world-class cyber experts, demonstrates our commitment to advancing cybersecurity and protecting our customers with cutting-edge technology.”
I am one of the editors here at www.systemtek.co.uk I am a UK based technology professional, with an interest in computer security and telecoms.