FICO Extends Cybersecurity Score to Rate 4th Party Risks
Highlights:
- FICO has enhanced the FICO® Enterprise Security Score in order to identify the 4th party risks of scored organizations — the risks of a vendor's vendors
- Users of the FICO Enterprise Security Score can identify key IT suppliers of any entity, the cybersecurity scores of those suppliers, and can drill down to understand which specific technologies have been deployed
- Breach insurers can now understand aggregate risk concentrations across a portfolio of policies where multiple insureds may be exposed to common IT suppliers and technologies
More information: http://securityscore.fico.com
A report in the
The FICO Enterprise Security Score now helps breach insurers and enterprise vendor management teams identify the vendor dependencies of their clients and business partners, including deployed IT components, and see the Enterprise Security Score of these 4th party relationships. The service also helps users identify common 4th party dependencies across a portfolio of 3rd party relationships.
"You can't really understand your 3rd party risks without also understanding the downstream dependencies those organizations have with their own suppliers," said
"The ability to assess aggregate risks based on real data is becoming increasingly important to insurers," said
The FICO® Enterprise Security Score performs a complex assessment of an organization's network assets, applies advanced predictive algorithms, and then condenses the results down to a three-digit score that rank-orders based on the odds of breach for the organization. Companies can use this score to understand and track their own performance, or evaluate the security risk of their vendors and other business partners. FICO was part of a consortium of industry leaders that developed new guiding principles for cybersecurity ratings.
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SOURCE FICO
Media: Matt Houser for FICO, Voce Communications, +1 510-932-7330, FICOTeam@vocecomm.com; Investors/Analysts: Steven Weber, FICO, +1 800-213-5542, investor@fico.com