Abacus Group, a provider of hosted cloud IT solutions for hedge funds and other alternative investment funds, has expanded its cybersecurity services with the launch of AbacusFLEX Protect.
FLEX Protect provides auditing and reporting capabilities and leverages Varonis DatAdvantage, a solution that monitors file activity and user behaviour to manage permissions, identify where sensitive data resides and prevent breaches.
The requirements of hedge funds to improve their internal operations to address and protect against cyber security threats continues to increase. Regulatory groups in the US and UK and hedge fund investors globally are proactively looking at individual funds to ensure they are set-up appropriately to address cybersecurity risks.
Abacus developed FLEX Protect to be proprietary and custom tailored to the alternative investment industry and to provide insight into a hedge fund’s systems and services, highlighting patterns, security risks and social connections to monitor and protect sensitive data from insider threats.
Administrators can use the single interface of the Abacus Portal Dashboard to access the FLEX Protect services and manage and visualise permissions and map groups of users to only the data they need to access.
“Abacus’s FLEX Protect provides me with instant visibility into how my users are accessing files and e-mails to ensure that all of our fund’s information is protected. I can now view what is happening to our data in a simple format that I can understand without having the background of a programmer,” says Nasine Dam, director of technology, HealthCor Management.
“Abacus is very pleased to leverage Varonis to provide these leading edge security services to our client base. Abacus continues to be very committed to helping our hedge fund clients address and adhere to new requirements being placed on them by regulators and investors,” says Josh Barons, director of security at Abacus Group.
