Cyber security standard extended to HUB24 Group

HUB24 Group has achieved international recognition for its cyber security, demonstrating to financial advisers and stockbrokers its capabilities and commitment to information and security when providing market leading financial services.

The international security standard ISO 27001, awarded for its safe management and government of information assets, recognises the HUB24 Group has identified the risks, assessed the implications and put in place systemised controls to limit any damage to the business in relation to cyber security.

While HUB24’s technology partner Agility Applications previously held the standard, it has now been extended across the HUB24 Group to include AgilityCONNECT, HUB24 platform and ConnectHUB.

HUB24’s partnership with Agility Applications enhances its ability to evolve with the financial services industry.

“This is a great achievement for the HUB24 Group and reinforces HUB24’s commitment to maintaining a strong Cyber Security capability and focus as we continue to invest in leading financial technical solutions,” said Paul Biggs, Chief Information Officer, Agility Applications.

With greater reliance on technology in financial services than ever before, cybercrime in Australia is on the rise. BDO Australia recently reported a 74.3% increase in data breaches experienced through third party providers and suppliers between 2017 and 2018*, with the trend expected to continue.

“Advice businesses and clients expect the highest levels of security from their partners, and we’ll continue to innovate and strengthen our products in this space,” said Biggs.

The ISO 27001 security standard specifies the requirements for establishing, implementing, maintaining and improving an Information Security Management System (ISMS) and is adopted by organisations around the world to demonstrate their capabilities and commitment to information and cyber security.

The implementation of the ISMS is an organisation wide project, covering people, process, technologies and the way they interact with each other. To retain the security standard, the HUB24 Group must conduct ongoing audits and the maintenance of the standard. This will consist of six-monthly surveillance audits to confirm ongoing compliance.

*Page 9, BDO Australia 2018 / 2019 Cyber Security Survey.