Desjardins Group, National Bank, Deloitte and RHEA Group establish Cybersecurity Collective

To make Québec a global leader in cybersecurity, Desjardins Group, National Bank, Deloitte, and RHEA Group join forces to create CyberEco

Montreal, QC (Sept. 13, 2018) – With cyber threats such as fraud, identity theft and data theft proliferating and the skilled talent pool in computer security diminishing, Desjardins Group, National Bank, Deloitte and RHEA Group are teaming up to support the creation of CyberEco, a new organization that will lead to the establishment in Québec of a talent and expertise collective in cybersecurity.

“Hackers and scammers are always coming up with new schemes. That’s why cybersecurity and innovation are strategically important. CyberEco’s expertise will help us on many fronts in the fight against cybercrime and will enhance our prevention initiatives,” explained Desjardins Group president and CEO Guy Cormier.

CyberEco brings together cybersecurity experts working on common projects intended to serve companies and individuals alike. These experts are applying their knowledge and experience to develop technological solutions that make digital activities more secure, including awareness tools and new protection and detection software, as well as algorithms for identifying malicious behaviour.

“Over the last few years, we have seen demand for cybersecurity products and services literally explode,” notes Marc Perron, Québec Region Managing Partner, Deloitte. “To respond to this, it is vital to develop new solutions that rely on greater collaboration between major industry players. That’s the spirit of CyberEco, and that’s also why we’re proud to associate our teams with it and to be among the founding partners.”

Starting this year, a series of initiatives aimed at preventing cyberattacks and protecting the confidentiality of personal information more effectively will swing into action. Far from being just a centre of expertise in technology, CyberEco will also work on human behaviour, focusing among others on projects intended for the general public such as the Protection app that will be launched this fall. Desjardins Group, National Bank, Deloitte and RHEA Group are joining forces not only to finance the project but also to share their expertise and to facilitate the implementation of solutions.

“A number of economic sectors are currently undergoing a digital revolution. To take full advantage of it, organizations need high-performing cybersecurity solutions. Whether to support business activities or create an environment that’s conducive to business development, the benefits are numerous. Cybersecurity has also become a matter of national security, and this situation could become even more acute in years to come,” stated Louis Vachon, President and Chief Executive Officer of National Bank.

Cybersecurity, a threat and an opportunity for the Québec economy

According to the project’s founding members, Québec needs to show greater concern for cybersecurity, with technology being the keystone of the new economy. It is a matter of interest to all sectors, in particular artificial intelligence, “Industry 4.0” and video games, areas where Montréal already stands out.

Furthermore, identity theft and Internet scams are a threat to the general public and cause substantial financial losses.

The creation of CyberEco seeks to position Québec on the global stage and to create and maintain jobs here as well as to take advantage of a growing market that could top $170 billion worldwide by 2020.[1] Knowing that demand for cybersecurity professionals will reach 8,000 jobs in Canada by 2021,[2] CyberEco intends to speed up workforce development to prepare the next generation in this sector through its various alliances, notably with the academic world. Cybersecurity could rise to become one of the drivers of the Québec economy. Université de Montréal announced today that it is creating a research chair in cybercrime prevention, funded by Desjardins Group and National Bank of Canada.

“Desjardins Group and National Bank of Canada teaming up with Université de Montréal to tackle the cybersecurity challenge sends a clear signal of the urgency to act now,” says Guy Breton, Rector, Université de Montréal. “This sharing of expertise will provide tangible solutions while meeting a critical need for talent in this field.”

Montréal, a preferred location

With its high concentration of companies and researchers in artificial intelligence, Montréal is a superb location for establishing a world-class centre combining cybersecurity and artificial intelligence. Headquartered in the Quartier de l’innovation, in the heart of the Montréal economic ecosystem, the organization will see a surge in affiliations with local and international partners. The presence of universities, start-ups and a skilled workforce also enable Montréal to stand out.

Notes

1. Deloitte, 2016.

2. Deloitte, 2018.

About CyberEco

By pooling specialized resources, CyberEco aims to turn Québec into a world-class talent and expertise collective in cybersecurity. Working on tangible solutions in this rapidly growing field, CyberEco promotes the sharing of knowledge and training for the next generation, along with awareness and prevention, as well as providing specialized cybersecurity products and services. This body brings together first-rate experts and prestigious founding members, including Desjardins Group, National Bank, Deloitte and RHEA Group, to make digital activities more secure for organizations and individuals alike, for a prosperous and secure economy.

About Desjardins Group

Desjardins Group is the leading cooperative financial group in Canada and the sixth largest cooperative financial group in the world, with assets close to $268 billion. It has been rated one of the Best Employers in Canada by Aon Hewitt. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Counted among the world’s strongest banks according to The Banker magazine, Desjardins has one of the highest capital ratios and credit ratings in the industry.

About Deloitte

Deloitte provides audit & assurance, consulting, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights and service to address clients’ most complex business challenges. To learn more about how Deloitte’s approximately 264,000 professionals—9,400 of whom are based in Canada—make an impact that matters, please visit www.deloitte.com.

Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

About National Bank of Canada

With $262 billion in assets as at October 31, 2018, National Bank of Canada, together with its subsidiaries, forms one of Canada’s leading integrated financial groups. It has more than 23,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Learn more at nbc.ca.

National Bank Insurance is a trademark of National Bank of Canada used under license by some of its subsidiaries, including National Bank Life Insurance Company and National Bank Insurance Firm Inc.

About RHEA Group

RHEA Group is a world-leading space system engineering and security organisation delivering security solutions to large enterprises, governments and institutions in Canada and Europe. RHEA Group’s experts are certified security engineers offering a comprehensive security portfolio built on a ‘security by design’ approach.

RHEA Group’s comprehensive security services portfolio includes threats and risk assessments, emission security, vulnerability assessments, penetration testing, security by design analysis and support, network monitoring and scanning, cyber forensics, certification and accreditation, and staff training and augmentation.

SOURCE: CyberEco

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