Cobalt Iron Inc., a leading provider of SaaS-based enterprise data protection, today announced that it has joined the financial sector not-for-profit initiative Sheltered Harbor as a technology Solution Provider Alliance Partner. Cobalt Iron's Compass® platform delivers SaaS data protection with on-prem and cloud deployment options.
Sheltered Harbor's purpose is to protect customers, financial institutions, and public confidence in the financial system if a catastrophic event such as a cyberattack causes an institution's critical systems and backups to fail. Compass for Sheltered Harbor will protect critical account data for both on-premises and in-the-cloud implementations.
Cobalt Iron is part of a select group of solution providers that Sheltered Harbor engages with in the development of Sheltered Harbor-compliant turnkey solutions that would assist its participants in implementation of the sector's resiliency standard. Once Cobalt Iron's Compass for Sheltered Harbor solution attains full endorsement, Sheltered Harbor Participants can take advantage of a ready-to-deploy, fully endorsed solution that meets Sheltered Harbor requirements without having to develop, manage, and maintain a proprietary data vault. Instead, they can work with Cobalt Iron to deploy Compass for Sheltered Harbor quickly and comprehensively as the data vault technology of choice.
Compass for Sheltered Harbor will enable financial institutions to back up critical customer account data each night in the Sheltered Harbor standard format. The data in the vault is encrypted, unchangeable, and completely separated from the institution's infrastructure, including all backups.
"Cyberthreats are compounding on a daily basis, and the financial industry is a ripe target. That's what makes this partnership with Sheltered Harbor so important," said Andy Hurt, chief marketing officer, Cobalt Iron. "Participants will have a data vault option with flexible, hybrid-cloud implementation, so they don't have to spend time and money developing and getting approval for a complex, difficult-to-manage, homegrown solution."
"We are thrilled to work with Cobalt Iron as a Solution Provider in our growing Alliance Partner Program," said Carlos Recalde, president and CEO of Sheltered Harbor. "As we continue our mission of protecting the U.S. financial system from the impact of a devastating cyberattack, we wanted a partner that could address the breadth of the diverse financial sector market — particularly as a service. We are impressed with how close Cobalt Iron's current product is to meeting our requirements and with the diligence and agility that they are demonstrating in getting it fully compliant."