Treasury Taking Unexpected Path to Fintech, Cybersecurity Tools
Privacy & Data Security Law
April 15, 2022, 4:27 PM
The Treasury Department is searching for tech to help ward off cyberattacks, following the 2020 SolarWinds breach by Russian hackers.
Industry leaders are excited about the agency’s interest in leveraging cybersecurity and fintech products from a small business innovation program that Treasury does not itself participate in.
Cybersecurity typifies “the kinds of technologies that you want to acquire under rapid acquisition authorities,” Josh Lospinoso, CEO of cybersecurity start-up Shift5, said. “You have a multi-party game where attackers are trying to penetrate networks using novel techniques and defenders have a constantly evolving landscape of technologies that they’re trying to manage. ...
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