Royal Recognition for Risk Management Specialist
London, UK - 21 April 2003 - The Queen's Award for Enterprise in the
Innovation Category has this year been conferred on mi2g, the world
leader in digital risk, for the development of Bespoke
Security Architecture. DK Matai, Executive Chairman of mi2g,
will be present at the announcement of the award on 22nd April at the Queen
Elizabeth II Conference Centre in London.
Bespoke Security Architecture
(BSA) is a highly innovative approach to enterprise-wide security based on
the Digital Risk Management methodology
pioneered at mi2g primarily as a result of its interaction with government
agencies as well as the global banking, insurance and reinsurance industries.
"We are absolutely delighted to receive
such recognition for our Bespoke Security Architecture," said
DK Matai, who founded the firm
in October 1995 while still a PhD student at Imperial College, London. "It
underlines the importance of improving corporate security measures holistically,
paying as much attention to the human, legal and insurance dimensions as to
the technology. This approach has saved time and cut cost in large scale deployments."
mi2g's digital risk management products enable financial institutions
and government agencies to identify operational risk more precisely than has
traditionally been the case, and allocate the necessary resources to mitigate
that risk more efficiently.
BSA tools provide
a comprehensive risk management solution, which bring together firewalls,
other defensive structures, and automated intelligence techniques with legal,
human resource and company policies. The tools consist of five components:
DRM - The Digital
Risk Matrix visualises the risk associated with integrated digital
solutions in a unique way and allows risk interpretation by decision-makers
without any requirement for technical or engineering expertise.
CCR - The Contingency
Capability Radar is an ISO 17799-based online platform, containing
tools and templates to assess and graphically visualize the business continuity
capability of the entire enterprise, including subsidiaries.
SIPS - Security
Intelligence Products and Systems Database has the latest information
on over 7,000 hacker groups and maintains a record of over 180,000 individual
hacking events over the last seven years. SIPS is the world's largest hacker
attack and groupings database cited by the Federal Bureau of Investigation
(FBI) Computer Crime Survey in 2002.
eDFi - The
electronic Data Fort Initiative is a secure data vaulting service
which allows users to access their critical personal and business information
anywhere and at anytime via hand held devices, the internet and interactive
KMODS - The Knowledge Management and Objects Database System
has been designed for configuration management to enable recovery in the event
of a major emergency where human and material assets are irrecoverably scattered
over a large area and severe loss of life has occurred.
DK Matai developed the idea
of "The Creation and Protection of Online Wealth" in
1995 as part of his PhD simulations and software models. By late 1996, after
a number of the early experimental online communities called "Lounges"
had been hacked, the importance of migration to secure, hacker-resistant and
tamper-proof online platforms was recognised. This is in essence the origin
of the Bespoke Security Architecture
range of tools, which extends beyond the existing online protection components
on offer from security product vendors.
Budgeting - Using BSA,
customers can channel digital security expenditure more effectively, taking
into account not just hardware and software but also legal, personnel, training
and insurance considerations, enabling them to work more effectively with
Cost cutting and Time saving - mi2g's own experience demonstrates
that the prevention of problems rather than their cure significantly reduces
inappropriate actions and their consequences. Technological innovation in
the monitoring and continuous surveillance of network traffic including emails
cuts the overall downtime cost and reduces the wastage of management time.
The same policies and practices have delivered similar efficiencies across
different client sets.
Enterprise Relationship Management - BSA
implementation increases clients' awareness of the contribution that customers,
shareholders, employees and suppliers make both to adding value and corporate
risk. BSA profiles all
four categories of value and risk contributors, examining and analysing in-house,
downstream and upstream liabilities and risks. This helps to increase efficiency
of business processes by eliminating interface points and improving response
"We are honoured to receive the Queen's
Award for innovation this year," concludes DK
Matai. "The credit for this award must
go to mi2g personnel and senior consultants as well as our clients, shareholders
and suppliers who have worked together with us as such a close knit team over
the last seven years. Thank you."
For further information please contact mi2g