Shoring up security against costly data breaches
Data breaches cost corporations millions of dollars, erode customer confidence and cause irreparable damage to a company’s reputation. It’s a risk that Metrolinx, an Ontario crown agency that services over 13 million passenger trips a year, urgently needed to address and needed a technology partner to quickly provide a solution.
With support from the Cybersecurity Fintech Innovation Pilot Program (CFIPP), managed by Ontario Centres of Excellence (OCE) and Toronto Finance International on behalf of the Government of Ontario, Metrolinx partnered with Ottawa-based Cord3 Innovation to reduce the frequency and impact of data breaches.
Cord3’s UNITY Security Platform helps organizations properly secure information without creating a painful experience for users and customers. The platform has several high-value features that make it simple to use and easy to administer, including its ability to integrate with Metrolinx’s existing user authentication system, which means that people do not need a separate set of credentials to maintain secure their information. Cord3’s technology also ensures that only authorized users can access encrypted documents, meaning that unauthorized users, including IT administrators within an organization, will receive an error message when trying to open a protected email or file.
As part of this development and demonstration project, Cord3 will implement the UNITY Security Platform for mobile devices to fully protect Metrolinx’s sensitive information against internal and external threats. This represents the first time the UNITY platform has been commercially-installed on a large scale.
“There are numerous opportunities in follow-on business with Metrolinx/Presto, in the range of $10-$15 million,” says Kevin Carroll, Vice President, Client Engagement at Cord3 Innovation. “[Developing] the mobility portion of the UNITY Security Platform will fully implement a data-centric, secure email solution at Metrolinx/Presto and set the stage to deploy other modules of [the platform].”
The project is accelerating Cord3’s growth, creating high-quality jobs and acting as a case study for future clients.
“As part of the project, we’ve converted 15 part-time consultants into full-time employees [and] hired six new employees,” says Carroll. “There was great value in working with OCE as it allowed us to accelerate our product development, getting the product to market faster. Metrolinx will serve as a marquee reference customer [in our discussions with] Canada’s major financial institutions.”
Return on Innovation
- Created /retained 25 jobs
- 1 product developed
- 3 patents filed