Yverdon, a small city in French-speaking Switzerland, is quickly turning into something akin a twin of Zug. Much like the so-called Crypto Valley, the small city on the shores of Lake Neuchâtel has a cluster of firms crucial to the development of the country’s financial-service industry.
Yverdon-les-Bains is Switzerland’s Cyber-les-Bains: what Zug is for the cryptocurrency community, Yverdon is quickly becoming for the anti-hacking industry.
Snap, the Silicon Valley-based tech firm, is the sponsor of «Black Alps», a conference due to begin tomorrow in the small Swiss city. The event centers around a cluster of firms based in Yverdon that aim to provide solutions against attacks by cybercriminals, according to «Le Temps» newspaper (in French).
Competition for Swiss Talents
Netguardians, Sysmosoft and Strong.codes are but three companies at the cryptography center in Yverdon. The cluster receives a steady flow of experts from EPFL, the high-profile tech university in Lausanne and established companies such as Kudelski.
Crypto Valley may already be a household name beyond Swiss borders – and Cyber-les-Bains may soon follow in its wake. And will likely compete for the best talent available in an industry that is still in its infancy.
Swisscom Initiative
Because what companies such as UBS and Credit Suisse need most is watertight protection against theft and manipulation of data – more so than new digital currency and blockchain solutions in any case. The finance industry faces a three times higher risk to get attacked by cyber criminals than any other industry in the country.
There is no shortage of takers for the solutions that the companies in Yverdon come up with. Swisscom, Switzerland’s dominant telecommunications company, last week said it launched a new service against cybercrime, together with Netguardians. Swisscom has 170 banks as clients, which will quickly help technology to spread.
Foreign Takers
International firms are eager to take a share of the goods too. Apparently, Snap last year acquired Strong.codes – but both companies haven’t actually gone public with the deal.
Perhaps there will be more news about the cooperation at the conference on Wednesday. Bern, the Swiss capital, in any case is taking a keen interest in the developments: the Swiss head of cyber, Mauro Vignati, will speak at the conference.
The Swiss government in June 2017 launched a cyber-defense program and decided to work closely with the private sector and universities in its bid to up the country’s defense against the new form of crime.
