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All sorts of engines that we use, for example services of cyber rating companies, such as Bitsight, which we cross-reference with intelligence. This an advantage we have over many companies, because good intelligence is expensive and difficult. The organization gets service for free or for a nominal payment, and is told what its level of risk is, and how it will change.
Debbie Umbach is the Vice President of Marketing at Bitsight Technologies, the pioneer of and leader in security ratings, where she is responsible for the Company’s global marketing strategy and corporate communications. Founded in 2011, Bitsight built its Security Ratings Platform to continuously analyze vast amounts of external data on security issues and behaviors in order to help organizations manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk.
Read Bitsight's article, "Auditing and Monitoring Suppliers", in Raconteur's Business Risk Report, published in The Sunday Times on April 28, 2019.
With such a lack of maturity rampant in vendor risk management, it should come as no surprise that only 44% of organizations report on third-party risk to their executives and boards on a regular basis. So says a report by Bitsight, which also found that one in five respondents think boards do not understand their approaches to third-party risk management.
“We still don’t have a clear idea of what cyberwar actually looks like,” said Jake Olcott, vice president at Bitsight, a cyber risk adviser. “That is one of the struggles in this case. No one has said this was an all-out cyberwar by Russia.”
Countless Congressional hearings, 48 state data privacy laws and GDPR and mega breaches like the discovery of data on 500 million Facebook users just keep happening. Why? In this episode of the podcast, Paul is joined by experts from the firm Bitsight and BigID to discuss why we can’t seem to stop the breaches.
A new global study has been conducted by Bitsight and the Centre for Financial Professionals (CeFPro), looking into the financial sector and their views on third-party cyber risks in the industry. The report was officially released early this month.
“Managing third-party cyber risk has rapidly become the No. 1 concern for businesses,” said Jake Olcott, vice president of communications and government affairs, at Bitsight, which produces security ratings.
Some 97% consider cyber risk to be an important or critical issue, and 78% of those surveyed would refuse a partnership with a company that had poor cybersecurity performance, according to a new survey of 129 financial service professionals by security-rating firms Bitsight and the Center for Financial Professionals.
A Bitsight and Center for Financial Professionals (CeFPro) joint study “Third-Party Cyber Risk for Financial Services: Blind Spots, Emerging Issues & Best Practices” sheds light on how financial institutions are addressing challenges associated with third-party cyber risk.
At the core of Entrepreneurs' Organization (EO)'s mission is an unrelenting commitment to helping entrepreneurs learn and grow in every stage of business. Adopting an attitude of gratitude in recognizing employee wins is a critical component of success. We asked Tom Turner, CEO of Bitsight, about the importance of uncovering and recognizing invisible wins. Here's what he shared.
Third-party cyber threats are impacting major business decisions, according to a Bitsight and CeFPro report. Here are some of the biggest challenges.
Bitsight and the Centre for Financial Professionals (CeFPro) have released a joint study shedding light on how financial institutions are addressing challenges associated with third party cyber risk.
Many organizations work with hundreds of third parties, creating new risks that must be actively managed. The financial industry, in particular, has a massive business ecosystem made up of legal organizations, accounting and human resources firms, management consulting and outsourcing firms, and information technology and software providers. A new study into the financial services sector from security ratings company Bitsight finds that 97 percent of respondents say cyber risk affecting third parties is a major issue.
This podcast was recorded with Jake Olcott, VP of Government Affairs at Bitsight. The discussion focused on the recent research that Bitsight carried out with the Center for Financial professionals (CeFPro). The research focused on third party cyber risk and produced some interesting highlights.