Welcome!

Open Source Cloud Authors: Liz McMillan, Zakia Bouachraoui, William Schmarzo, Elizabeth White, Yeshim Deniz

News Feed Item

80 Percent of the Largest US and European Banks Deploy Sonatype to Address Growing Software Security Threat

Company Continues to Add Top Fortune 500 Customers

FULTON, Md., April 22, 2014 /PRNewswire/ -- Sonatype, a software company that enables developers to easily build software applications while significantly reducing security, compliance, and licensing risks, continues to find its software in high demand.  The company credits this momentum to an increasing awareness of the urgent need to address the risks associated with flawed open source components being used in millions of mission-critical software applications. 

As is often the case when such critical threats emerge, the financial services sector is moving quickly to secure their software applications leveraging Sonatype's Component Lifecycle Management solution.  Many other Fortune 500 companies are following suit.

In addition to 80 percent of the largest US and European banks, leaders in these other key industries have become Sonatype customers:

  • 5 of the top 10 aerospace companies
  • 2 of the top 5 entertainment companies
  • 2 of the top 5 telecommunications companies
  • 2 of the top 5 healthcare insurance companies
  • 2 of the top 5 diversified financials companies
  • 2 of the top 5 network/communications companies
  • 75 percent of the top computer and peripheral companies

"Software runs the world, so it's vital that it runs securely," said Wayne Jackson, CEO of Sonatype.  "The known vulnerabilities in many of the components being employed by software developers are becoming more visible based on the broad damage caused by Struts2 and now the mass awareness of the Heartbleed bug."

"The open source projects continue to do a terrific job quickly addressing newly discovered vulnerabilities, and now more of the enterprises doing component-based development are implementing Component Lifecycle Management to ensure they are using the safest versions," continued Jackson. "Based on the critical risk to the huge number of software applications that make the world's banks and other major corporations work, it's encouraging to see industry leaders tackling this problem head on."

Recognizing this risk, the FS-ISAC (Financial Services Information Sharing and Analysis Center) recently released guidance regarding open source libraries and components.  Specifically, the guidance recommends that financial institutions apply automated policy management and enforcement as well as inventory management for open source libraries used in their application portfolio.

Click here to access the FS-ISAC Third Party Software Security Working Group white paper: Appropriate Software Security Control Types for Third Party Service and Product Providers.

Organizations seeking insight on the component vulnerabilities that may be hidden in their applications can assess their risk with one of Sonatype's complimentary open source assessments at http://www.sonatype.com/resources/risk-assessments.

About Sonatype:

Every day, developers rely on millions of third party and open source building blocks – known as components – to build the software that runs our world.  Sonatype ensures that only the best components are used throughout the software development lifecycle so that organizations don't have to make the tradeoff between going fast and being secure.  Policy automation, ongoing monitoring and proactive alerts makes it easy to have full visibility and control of components throughout the software supply chain so that applications start secure and remain that way over time.  Sonatype is privately held with investments from New Enterprise Associates (NEA), Accel Partners, Bay Partners, Hummer Winblad Venture Partners and Morgenthaler Ventures.   Visit: www.sonatype.com

SOURCE Sonatype

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...