RiskRecon Solutions for Financial Services

Learn how RiskRecon helps financial services industry leaders manage cybersecurity risk.

finance

Trust between the customer and the bank

is at the heart of financial services. People trust their financial institutions to protect their hard-earned financial interests through sound financial products and services. People also trust their financial service providers to protect their personal identity and financial information.

Because of the sensitivity of the data they hold and the services they provide, the financial services industry has long been the focus of cybersecurity regulations and audits. Those regulations mandate strong protections to ensure the confidentiality and integrity of data and transactions and the availability of their services.

In the United States, the FFIEC IT Examination Handbook lays out the expectations for cybersecurity risk management, both for the internal enterprise and in third-party relationships. In Europe, the European Central Bank mandates that financial institutions meet the requirements set forth in the ECB cyber resilience oversight regulation.

Just as financial institutions require good data to provide financial services, they also require good data to manage cybersecurity risk. RiskRecon provides essential data, analytics, and workflow necessary to easily understand and act on cybersecurity risk.

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Assess and benchmark your own cybersecurity risk performance

Financial companies and their boards need the ready ability to continuously assess and benchmark the cybersecurity risk performance of their business. Count on RiskRecon to continuously monitor the cybersecurity of your enterprise, providing deep visibility into your current state and providing you the risk-based guidance to identify and prioritize remediation of the most impactful risks.

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Collaborate with vendors to address issues and improve security

RiskRecon customers can easily share their RiskRecon action plans with vendors, providing them access to the security issues and tools necessary to address the items that are important to you and to improve their security risk performance. RiskRecon’s Customer Success team will provide your vendors the support necessary to ensure their success.

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Identify fourth parties and understand concentration risk

You may not do business with a hosting provider, but what about your vendors? RiskRecon’s detailed analytics reveal the vendors employed by your vendors—your fourth parties. RiskRecon reporting makes it easy to identify fourth-party concentration risk. Armed with these insights, you can ensure that your vendors only do business with authorized providers. You’ll also have better awareness of the impact to you of incidents across the larger cybersecurity landscape.

WHAT OUR CUSTOMERS ARE SAYING
“RiskRecon gives us the ability to operationalize scoring across geo-specific industry requirements. This enables continuous vendor monitoring across thousands of third parties worldwide.”
– Global Fortune 1000 Bank
“The accuracy of RiskRecon's data lets us risk-prioritize the action we take to reduce risk across the categories that matter.”
– Large life insurance company
“RiskRecon helps maximize our efficiency with continuous, automated vendor assessment and tracking.”
– National healthcare organization
“With RiskRecon, we know our own cyber risk posture, and the cyber health of our third and fourth-parties with the context we need to act on that risk.”
– Global energy sector organization

Learn how RiskRecon cybersecurity ratings can help scale your third-party risk.

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