New Integration Focuses on Managing Security Risk from Third and Fourth Parties
Overland Park, KS (October 3, 2018) – Lockpath, a leading provider of integrated risk management solutions today announced an integration of its award-winning Keylight Platform with the BitSight Security Rating Platform. Through this partnership and product integration, organizations now have the ability to better address the growing number of cyber security risks posed by third- and fourth-parties.
The integration of BitSight Security Ratings and Keylight, Lockpath’s integrated risk management platform, gives joint customers the ability to quickly identify security risks posed by vendors, suppliers, and other third parties. The use of BitSight’s continuous monitoring capabilities combined with Keylight’s dynamic alerting and workflow tools provides joint customers with a more accurate and actionable view into their third-party risk management programs.
Rick Hedeman, Director of Strategic Partnerships at BitSight, said “The BitSight and Keylight integration gives our customers actionable insight into the cybersecurity posture of their third and fourth parties, enabling them to identify, understand and act on threats facing their supplier ecosystem. BitSight Security Ratings combined with Keylight’s workflow and alerting capabilities enables customers to design and run a comprehensive integrated risk management program, strengthening their company’s overall security posture.”
Additionally, the integration will enhance internally-produced data in Keylight with BitSight’s objective, real-time data on the cybersecurity performance of suppliers, based on externally observable, non-intrusive data and methods. This enriched data set provides a more holistic picture of the security risks posed by the third party, as well as additional context as to how these risks can affect the business. Companies can use this information to determine the frequency and depth of risk assessment needed and better prioritize remediation efforts.
“This integration with BitSight will provide our customers with a more advanced solution for managing third-party security risk,” said Chris Caldwell, Lockpath Chief Executive Officer and Founder. “The combination of Keylight’s management capabilities and analytics with BitSight’s security ratings gives our customers a more efficient and effective approach to third-party risk management.”
Lockpath’s award-winning Keylight Platform integrates the full vendor life cycle into daily processes and includes capabilities for information gathering, due diligence investigation, risk assessments, contract negotiation, ongoing monitoring and termination workflows. By centralizing all this information in one user-friendly solution with advanced reporting capabilities, Keylight allows organizations to better manage vendor risk and to reduce the risk of non-compliance.
To learn more about BitSight, visit bitsighttech.com.
To learn more about Lockpath, visit lockpath.com.
Founded in 2011, BitSight transforms how organizations forecast and manage cybersecurity risk. The BitSight Security Rating Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. BitSight Forecasting enables organizations to improve security performance by identifying areas of focus, determining optimal resource allocation and providing milestones to monitor progress. With over 1,200 global customers and the largest ecosystem of users and information, BitSight is the most widely used Security Ratings Service. For more information, please visit bitsighttech.com, read our blog or follow @BitSight on Twitter.
Lockpath is an enterprise software company that helps organizations understand and manage their risk. The company’s line of integrated risk management solutions provides companies with the means to efficiently and effectively identify, manage and monitor risks, for a more agile and resilient business. Lockpath serves a client base of global organizations ranging from small and midsize companies to Fortune 10 enterprises in more than 15 industries. The company is headquartered in Overland Park, Kansas. For more information on Lockpath and the Keylight Platform, visit lockpath.com. Follow Lockpath on LinkedIn and on Twitter at @Lockpath and @KeylightGRC for the latest in industry, company and product news.