Moving beyond its government origins security consultancy firm 90East is making aggressive inroads into the financial services sector securing a number of projects with the big four banks.
Going head to head with the big consulting firms, 90East senior consulting engineer Tim Cranny said the company began a number of small risk assessment projects late last year and negotiations are continuing with the major banks as well as two second-tier banks.
While unwilling to disclose specific details, Cranny said the projects are moving quickly towards the multimillion dollar mark as banks realise the big consulting firms do not have the specific expertise required to maintain top-level security.
90East has spent the last two years providing risk assessment services to 35 Federal Government agencies, but announced earlier this year its intention to establish new offices in Sydney as part of its expansion into the private sector.
The company is recruiting up to a dozen new staff for its Sydney office over the next six months and has poached Unisys e-security director Ajoy Ghosh to play a central role in its new operations.
Cranny said security standards are being driven by insurance and liability issues with companies realising they pay 10 per cent less on rates by implementing best practise.
"Security has moved out of the server room into the boardroom which is why we see a lot of opportunity in the commercial market," he said.