Banks planning anti-hacking tool

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A group of cybersecurity firms funded by big banks plans to launch a platform that will allow financial companies to communicate faster about potential cyberbreaches, The Wall Street Journal reported.

The move follows cybersecurity attacks on some big banks last month, in which JPMorgan Chase & Co.’s computer systems were hacked, exposing the contact details of 73 million households and 7 million small businesses.

Banks planning anti-hacking tool

The group gathered funds from 16 banks including JPMorgan, Citigroup Inc., BB&T Corp. and U.S. Bancorp to help lead the effort, the newspaper said.

The product, called Soltra Edge, is being launched by the Financial Services Information Sharing Analysis Center and the Depository Trust & Clearing Corp. It has been in the works for more than a year and is expected to be out next month, the report said.