Symphonic Software

Edinburgh
Seeking investment

Symphonic is a provider of market leading Identity and Access Management
software, specialising in providing intelligence in the authorisation process across a range of different industries.

Symphonic addresses a significant issue in today’s connected world, ensuring
compliant access to data by properly authorised users. Symphonic’s solution
ensures that access is effectively and efficiently controlled by providing context
aware and fine-grained policy driven criteria that meet the needs of both businesses
and regulators. It sits between the user request and the data or service and applies
rules to analyse the context of that request, including user attributes and session
characteristics, to dynamically retrieve data either from inside the organisation or
from cloud-based services. Delivering a nuanced view of whether an access should
be permitted or denied. It also provides a fine-grained solution, with the ability to
protect or open access to individual data elements, essential to manage access
requests in the Open Banking world.

Customers in a number of sectors, including Healthcare and Petroleum, have seized
on the opportunity to use this capability to accelerate their digital service
transformation. In Financial Services, Symphonic is working with a number of large
UK Retail Banks who see Symphonic’s solution as a key component of their Open
Banking and PSD2 projects.

The regulatory initiatives in Europe to open up a Bank’s back-end systems and data
to the API world are driving major re-engineering programmes as they seek to
balance the requirements of enhance security postures with minimising unnecessary
customer friction. The security considerations need to be much more context aware
and Symphonic supports access policies that can analyse multiple attributes
dynamically, to get the balance right between security/regulatory compliance.
Reducing customer friction by allowing the risk to be managed more effectively. It
controls the step-up process, only requesting this after a sophisticated analysis of
the access context.

This legislation is a driving a revolution in banking and Symphonic sees other
geographies looking at following Europe’s lead.

Symphonic was formed in 2014 following as a University spin out, and continues to invest in significant research and development. Initially focused on Financial Services and Health markets, we now have clients in a number of other sectors including multinational FMCG brand owners, Petrochemicals, and Pharmaceuticals. They all face the same challenge – how to open up access to data, but meet ever-growing regulatory compliance pressures such as the GDPR, Open Banking and Payment Services Directive 2, and HIPAA.

Through distribution partnerships with market leading US multinational technology companies we have developed a global reach with clients in the USA, Europe and current late-stage opportunities in the Far East and ANZ.

This growth has been driven by sales success, but also by a supportive partnership with our main funding partners, Par Equity and Scottish Investment Bank. With continued support we seek to build a Scottish based company with a globally relevant security product.

Derick James, CEO

Niall Burns, CEO

David Bowerman, Head of Operations

Ewan Dawson, Head of Software Development

Steven Holmes, Head of Architecture

Overview

  • Funding Stage Series A
  • Trading for 1-5 years
  • Employees 11-50
  • Sector Cyber Security
  • Valuation N/A

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