Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

Why vendor management is a cornerstone of security

When it comes to building a security program, one of the most frequently overlooked areas is that of vendor management. Organizations focus significant resources on internal security, such as vulnerability scans, centralized log management, or user training, while not extending the same diligence towards their third-parties. Organizations end up trusting the security of their network and data to an unknown and untested third-party. As we all know, a chain is only as strong as its weakest link.

How to Manage Third-Party Risk

Engaging with third-party vendors for the provision of goods and services isn't new. The level of digital transformation, paired with the number of third-party relationships and business partners the average organization has is. Third-party risk management programs need to evolve the manage this ever evolving type of risk exposure. Enterprise-wide organizations rely on third and fourth-party vendors. And many of them have access to sensitive data.

Testimonial Video about Ignyte

Due to the increase in #frequency and volume of new security #threats. Organizations need to conduct a robust assessment to determine their risk and also evaluate their #preparedness. Ignyte's Integrated risk management platform is designed to meet rising expectations of the #compliance function and lay foundations for future success. Ignyte helps teams to look ahead and anticipate and mitigate #uncertainties to enhance business performance.

Vendor Risk Management Best Practices

Vendor risk management is hard. And it's getting harder. But it doesn't have to be. Business units are outsourcing more of their operations to third-party suppliers. In turn, these suppliers outsource to their own service providers. It's undeniable, the average organization's exposure to third-party risk and fourth-party risk has never been higher.

The Importance of Third-Party Vendor Risk Management for the Banking Industry

Today’s banks and financial institutions closely cooperate with various third-party vendors. While such cooperation brings a lot of benefits, it also raises some significant concerns regarding the security of the data and resources these vendors have access to. In fact, according to Verizon’s 2019 Data Breach Investigations Report, the financial sector is among the most targeted, accounting for about 10% of all data breaches across all industries in 2018.

Ignyte UFCU testimonial video

University Federal Credit Union is a #diverse, member-owned cooperative that seeks to bring about #human and social development in full #accordance with International Credit Union Operating Principles. Laura Rea, Senior Manager Assurance Services at UFCU and the #Supervisory Committee were looking for a way to #tie together the #disparate security components and #review them collectively for a better look at the organization’s overall #security posture.

Ignyte Assurance Platform - Genetisis' testimonial

The security governance team at Genetesis is continually challenged to find creative ways to improve the overall security posture without disrupting the culture of learning and discovery. Ignyte Assurance Platform helps them to automate the workflow across the multiple frameworks, provide dashboards for senior leadership to see the current security posture at a glance, and also help them to gain the FDA clearance. Every member of our team is dedicated to providing the best in class customer support to maximize your experience working with us.

Google Cloud Platform compliance & Risk Management

Previously we published an article discussing some of the best practices surrounding cloud security, in this article, we will discuss cloud a little more specifically by focusing on one in particular provider Google. Google offers several different solutions for customers known as GCP or the Google Cloud Platform. GCP is set infrastructure tools and services which customers can utilize to build environments they need in order to facilitate a solution for their business.

Plights of the Round Table - A Tale of Weighing Risk

In an ornate boardroom, a group of executives gathered at a large round table for their annual strategic planning meeting. Morgan, the CEO, was surrounded by Lana, the VP of Sales; Susan, the CISO, Smith, the COO; and Barbara, Chief Compliance Officer. There was much to get done in the next twelve months, so they were passionately debating how best to invest their limited budget to achieve their goals and to address various sources of risk.