A cybersecurity startup with a new 24-hour monitoring service has launched to provide peace of mind for financial services firms.

bluedog Security Monitoring aims to offer firms of all sizes round-the-clock managed detection services and enable them to check the status of their cybersecurity at any time via a dashboard, as well as produce rapid reports to provide proof of compliance to customers.

The bluedog system uses artificial intelligence to spot unusual activity on a company’s network. It then alerts bluedog’s security operations centre, where the team analyses the activity and can respond if required.

Meanwhile, the dashboard shows its compliance with key standards such as GDPR, Cyber Essentials, ISO 27001 and the payment card standard PCI-DSS.

The system is ideal for lenders, insurance and investment firms, hedge funds and IFA networks – or any organisation which requires greater oversight of its cybersecurity.

The London-based business – launched by entrepreneur Paul Lomax and cybersecurity expert Tim Thurlings – intends to ‘revolutionise the market for 24-hour cybersecurity monitoring’ by making services accessible to all.

“Financial services businesses are key targets for cybercriminals and many face constant attacks,” Tim Thurlings, co-founder of bluedog, says.

“Firewalls and endpoint protection which firms have traditionally relied on are no longer adequate in today’s environment – they need to take their security to the next level.”

He adds: “bluedog gives them 24/7 access to a whole team of cyber experts for less than the cost of a part-time staff member. It helps them to maintain standards, day in day out, and demonstrate they are in control, providing proof of compliance and ultimately, peace of mind.”