Inside the FinTech & CyberSecurity Class of 2019 – Swascan

Inside the FinTech & CyberSecurity Class of 2019 – Swascan

12-Feb-2019 by Tasneem Hooghart

Next up, our “inside” look into Italian startup Swascan. Their solution is the first all-in-one, Cloud & On-Premise cybersecurity suite and GDPR risk assessment platform that allows users to identify, analyse and solve vulnerabilities and security issues related to websites, mobile apps and web applications, networks and source code.

Interestingly enough, the conception of the idea behind this startup (right down to the actual logo, drawn on a napkin!) sprouted about 2.5 years ago, when four great minds: Raoul Chiesa (the biggest cybersecurity expert in Italy), Riccardo Paglia, Sara Colnago and Pierguido Iezzi were enjoying some Italian food, in a tavern somewhere in Milan. Today, Swascan is a CISCO awarded cybersecurity startup that has gained significant traction in the recent year. Curious to find out more? Read their story here.

The threat of CyberSecurity

State of Technology predictions reveals that cybersecurity will remain a critical threat and issue of importance in the coming years. From big to small, companies of all sizes have begun to take an enterprise approach towards securing their organisations against cybercriminals. More so, as businesses demand cybersecurity threats to be met, before agreeing to collaborate.

“300 data records are being breached every second – this is a huge concern for security. 2019 is going to be a significant year for CyberSecurity. Already last year, we saw the introduction of GDPR and other important changes. Swascan has understood and intercepted the needs of companies, in the face of these changes. Right now our solution allows companies to cut the risk of data breaches by 80%. Moreover, Swascan allows companies to successfully manage security governance & law compliance since the technologic risk assessment is something mandatory (Art. 32 GDPR). – Sara Colnago, Swascan Co-Founder

Meet Swascan: a solution that empowers companies to assess their security posture, quickly.

Backed by Cisco (the worldwide leader in IT, networking and cybersecurity solutions), Swascan solves cybersecurity issues with a single, centralised platform – something especially useful for organisations with complex supply chains.

Keeping it comprehensive yet simple, this cloud-security service allows companies to administer a ‘preventive’  security analysis of their system through a vulnerability assessment, network scan and code review. Additionally, Swascan’s GDPR Assessment platform supports organisations in verifying and measuring their GDPR Compliance levels and provides subsequent guidelines and corrective actions to be implemented post-assessment.

Level of GDPR Compliance – Swascan report

“GDPR requires preventive security in order for companies to protect their data. As far as proactive or predictive security goes, Swascan caters this towards its larger accounts. We help corporations fulfil gaps in their security with services such as MSSP and light SOCs. But in terms of preventive security measure, one of the biggest threats to a company is human-risk related. Companies need to train all employees to be vigilant to things like phishing attacks. To this end, we developed Swascan in order to be compliant with all of our customers’ needs: a cloud solution addressed to SMEs, a White-Label proposal for MSPs and an On-Premise platform for large accounts.” – Sara Colnago, Swascan Co-Founder

Standing out in a saturated industry

Swascan’s expertise, know-how and affinity with the topic of cybersecurity runs deep – not only are they in collaboration with CISCO, but they also have one of the biggest CyberSecurity experts, Raoul Chiesa (listed as the top 10 worldwide experts) in the team. Credibility is key in this industry and in recent months, Swascan has gained commendable recognition: they’ve been sighted by MarketsandMarkets™ (alongside industry heavyweights like Oracle) as the Top 20 GDPR providers around the world. They were the only Italian company listed in the report, and one of the few European companies mentioned.

“When dealing with security – both cyber and physical – you need to have credibility. If I have to give my cybersecurity framework to a provider, I need to be certain that this provider is able to manage my company, framework, and security issues easily, effectively and safely. One of the biggest challenges for Swascan was standing out in the field of CyberSecurity. If you’re operating in this area – credibility is the most important factor that determines how significantly you’re able to stand out from the crowd as a solution. We managed to do so with our expertise and platform, which has been designed to perfectly fit the needs of our customers. Swascan’s solution is something pretty unique in that sense.” – Sara Colnago, Swascan Co-Founder

Last year, Swascan also began collaborations with 2 of the biggest telco players in Italy – Telecom Italia and Fastweb. Both corporations are selling Swascan services to clients through their commercial networks and online marketplaces – a big win for the startup, in terms of traction. Further, the team recently closed a 3rd partnership with Swisscom, the biggest telco in Switzerland, thus boosting their visibility globally.

Keeping the momentum: Rolling out new additions

Taking a leap forward to improve awareness on issues surrounding Cybersecurity, Swascan has established the Swascan Academy – something completely new in this sector –  offering CyberSecurity awareness to companies.

“We offer different lectures and courses regarding Cybersecurity. We have 5 different classrooms: ICT security, ethical hacking, digital forensics, GRC (government risk management and compliance), crisis management. We have now a total of about almost 100 courses. Awareness is important – if you have trained employees, you minimise the human risk. Our courses are another important step towards this awareness generation, around the topic of cybersecurity. These courses are available to anyone who wishes to increase their knowledge of security. We are highly customisable, even with these courses.” – Sara Colnago, Swascan Co-Founder

In the works: global expansion

Having established themselves really well (with over 50 partners) in their home-base of Italy, the team joined the SBC FinTech & CyberSecurity program, with the main motivation of growing their business in the European market. The Netherlands has been a great springboard for that aspiration.

“I recognise the importance of being in a program such as Startupbootcamp. Such a program introduces your company to a broader audience and a wider network. It also helps you navigate the nuances of operating in a new market. Without SBC we wouldn’t be able to operate the ‘Dutch’ way. We learnt very quickly that the Dutch prefer face to face meetings over brochures/calls and now, that’s how we’ve been operating here.

We’ve also gained a lot from the mentorship and the accessibility to key, decision-making people – we wouldn’t have been able to be in touch with the people in Rabobank otherwise. Of course, the fellow startups who are in the program with us, and the team in Startupbootcamp have really played a part in our growth and improvement in the last few months.” – Sara Colnago, Swascan Co-Founder

Demo Day for the FinTech & CyberSecurity Class of 2019 is on 14th February. Tune in to the livestream at 14:15CET, to catch Sara Colnago from Swascan (together with 11 other companies) pitching on stage at the Rabobank HQ in Utrecht!

Marketing & Content Lead