Breach

Major banks team up to fund Soltra Edge threat sharing tool

November 6, 2014

In the wake of one of the biggest cyber attacks a financial institution has sustained, two trade groups have teamed up to produce a threat sharing tool funded by major banks.

The Financial Services Information Sharing Analysis Center (FS-ISAC) and the Depository Trust & Clearing Corp (DTCC) will launch Soltra Edge, a threat sharing platform that will allow financial companies to collect and communicate information on cyber breaches quickly, according to The Wall Street Journal.

The project was funded by more than 16 banks that include Citigroup Inc., BB&T Corp, U.S. Bancorp, and JPMorgan Chase, which recently fell victim to a breach that impacted 76 million household and seven million small business accounts.

The platform, which has both a free and paid version, was announced in September, it is set to launch on December 2. 

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