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updated 3/14/2011 2:14:10 PM ET 2011-03-14T18:14:10

The White House took a significant step this week in increasing national security by facilitating an agreement between several high-profile public and private organizations whose aim is to develop innovative methods for safeguarding the nation’s critical infrastructures.

On Dec. 6, the National Institute of Standards and Technology (NIST), the Department of Homeland Security (DHS) and the Financial Services Sector Coordinating Council (FSSCC) signed a memorandum of understanding designed to "speed the commercialization of cybersecurity research innovations," according to a White House press release.

The parties entered into the agreement with two specific goals: "Facilitating coordination and cooperation among Federal agencies and the financial services sector in the development and delivery of innovative cybersecurity technologies and processes," and to establish efficient guidelines for those joint research projects.

Though the cybersecurity of the financial sector is the top priority of the memorandum, the White House wrote that innovations that result from the multi-organization partnership will "extend beyond financial services," incorporating online health services, transportation, water, and the Smart Grid.

 

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