Veracode Honoured With SC Magazine Excellence Award for “Best Security Solution for Financial Services” in Europe

Veracode Inc., provider of the world’s leading Application Risk Management Platform, announced today that it has won a major SC Magazine Excellence Award. Veracode’s SecurityReview®, the first comprehensive solution for managing application security risk available as a cloud-based service, was the winner in the Best Security Solution for Financial Services category. This is the second time Veracode’s contribution in this sector has been recognized in Europe. Last year it received the award for Information Security Project of the Year in the Banker Technology Awards as well as receiving two SC Awards for Innovation and for Best Vulnerability Assessment.

Now in its fourteenth year, these highly acclaimed and prestigious awards are designed to reward excellence and innovation in the IT security industry. Veracode and its SecurityReview service were among more than 300 entries submitted for the SC Magazine Awards Europe. The panel of judges included chief security officers as well as high level IT security executives. Veracode was presented with these accolades at the SC Magazine Awards gala dinner on Tuesday, 28 April at the Hurlingham Club in London.

“We are honoured to receive this major award from SC Magazine,” said Matt Moynahan, President and CEO of Veracode. “Our success to date in both Europe and the US testifies to our ability to assist global organizations with an easy and cost-effective approach to managing application risk across portfolios consisting internally developed, purchased, outsourced and open source applications. Our innovative cloud-based SecurityReview service is resonating as it empowers businesses to do “more with less”. With Veracode enterprises can march forward with their crucial software assurance initiatives despite the challenging economic climate in a way which traditional on-premise tools simply does not allow.”

Commenting further on the value SecurityReview has delivered within Barclays, Rhonda MacLean, former Global Information Security Officer for Barclays Global Retail and Commercial Bank said:

“We are delighted to see Veracode win this award. Veracode was a quick win for Barclays, for our customers, and also for our third-party vendors,” adds Rhonda MacLean. “Their SecurityReview product has helped Barclays and its software suppliers deal with the difficult task of scanning code in large volumes in a very efficient manner. Rather than trying to change processes within both the bank and our vendors, Veracode’s software-as-a-service model gave us rapid execution and results with minimal resources. Together we have delivered measurable value to our business and our customers, addressing the challenges of a growing and rapidly changing threat environment.”

Veracode’s SecurityReview® is the first solution to enable organizations across all sectors – not just in the financial arena - to discover security flaws in software automatically, without releasing their valuable source code. Whether a company is buying or building software Veracode helps improve the security quality of applications without the need to hand over precious intellectual property by providing comprehensive identification and remediation of the security flaws contained in binary code, the very foundation of today’s software applications.

Recently Veracode has expanded its flagship cloud-based subscription service to simplify the management of security risk and compliance right across the application portfolio for a broad range of applications including those developed in-house, purchased externally, outsourced and open source. The new Application Risk Management Platform enables enterprises and ISVs (independent software vendors) to implement centralized governance and control of their software security across their entire application portfolio. It also provides a continuous skills development model for internal and external development teams.