RiskXchange Cyber & Third Party Risk Management

The global standard for enterprise and third-party cyber risk score ratings and cyber risk analysis. Map your partner and client ecosystem to determine and manage your 360° cyber risk rating.

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RiskXchange overview

RiskXchange is the global standard for enterprise and third-party cyber risk score ratings and cyber risk analysis. RiskXchange provides a simple, automated and centralised risk management solution that enables organisations to manage their own cyber risk score as well as ensuring their suppliers and third-party partners meet your GDPR requirements.

RiskXchange provides a 360° view of the Enterprise Cyber Risk Posture using AI Machine Learning. A simple, clear and informative dashboard enables senior executives to see in real time their Enterprise and Third-Party Cyber Risk Score position, helping them to make informed and measureable business risk decisions.

The RiskXchange platform enables the centralised sharing of risk score data upstream and downstream for simple, one‑to-many exchange of cyber risk data.

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What is the value of RiskXchange?

  1. Represents industry de facto standard for cyber risk score ratings
  2. Enables enterprises to securely adopt an open collaborative supplier digital ecosystem
  3. Provides 360° view of enterprise and third-party cyber risk management and forensics
  4. Simplifies and streamlines processes for GDPR compliance for your suppliers and third parties
  5. Delivers consistent, real-time and accurate view of enterprise cyber risk and GDPR posture.

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Read more about Cyber and Third-Party Risk Management

Key challenges that enterprises face today

  • Cybercrime losses are expected to reach $6 trillion by 2021
  • 75% of enterprises consider the cyber risk associated with third parties as serious and increasing
  • 26% of enterprises consider today’s cyber risk measurements to be ineffective
  • 72% of enterprises are estimated to have a cyber skills shortage
  • Today’s manual cyber risk assessments are slow, error-prone, inconsistent, time-consuming, and leave the enterprise unable to enjoy the crucial benefit of making real-time business decisions
  • There is insufficient scalability to assess the 360° cyber risk view of an enterprise’s third- and fourth-party network of partners and suppliers
  • Compliance requirements (GDPR, PCI DSS, PSD2, ISO27001) continue to raise the need for having simple, shareable access to cyber risk information.

How does RiskXchange work?

RiskXchange uses powerful machine learning capabilities to map an enterprise’s ecosystem and determine the 360° cyber risk rating score and posture of multiple degrees of relationships to the prime enterprise.

This information is also very beneficial in providing visibility of the industry average cyber risk score and peer benchmarking for competitive advantage.

RiskXchange AI RiskXchange Cyber & Third Party Risk Management - diagram how it works

Rail Delivery Group (RDG) deployed RiskXchange from Northdoor to gain a clear view of both internal and third-party cyber security risks.

“RiskXchange enables us to gain enterprise-level insight into our cyber security risk and identify areas for remediation. Working with Northdoor we were able to rapidly implement and configure RiskXchange and establish essential policies and procedures as the foundation of a greatly improved cyber security posture.”

Alain Cain, Head of Information Security, Rail Delivery Group.

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Northdoor’s RiskXchange solution enables the Salvation Army to reduce third-party cyber risk across its entire supply chain.

Miguel Fiallos, CIO of the Salvation Army, says: “We are thrilled with the RiskXchange solution that has been provided to us by Northdoor.

Ensuring that our third-party supply chain is secure is of paramount importance to us and whereas it used to take weeks and in some cases months to complete lengthy third-party vendor assessments, it now takes us hours. Northdoor has helped us to streamline the process, saving valuable time and money, which we can re-invest into helping people in need.

The Automated Security Ratings and Assessments solution that RiskXchange provides helps us facilitate sometimes tricky security analysis with our suppliers, making it an integral part of our vendor risk management program.” 

Read the case study

Videos

RiskXchange - 3rd Party Cyber Risk Management

Understanding your exposure to Third Party Risk

Webinar: Cyber Security - Latest Trends, Threats and Risks June 2020

Understanding the risk of cyber threats with Pret A Manger

Delivering GDPR Third Party risk assessments through the RiskXchange platform

Under the GDPR and UK-specific data protection regulations, companies are responsible for personal data shared with their third-party providers and suppliers.

Typically, auditing third-party risk involves sending individual spreadsheets to multiple third parties, collating their feedback, manually assessing their GDPR status, and trying to determine your risk of corporate exposure.

This is extremely inefficient, prone to error and could leave your organisation exposed.

RiskXchange can send each of your third parties a GDPR assessment questionnaire – one of our pre-built options or your own bespoke version.

All responses are gathered in the solution, automatically centralising the responses.

RiskXchange completes an external cyber risk assessment of each third party as part of the process.

The solution then scores the assessment and provides an easy-to-understand dashboard to allow you to quickly and easily see any areas of concern.

RiskXchange delivers forensic data insights for security and risk gap analysis, helping to improve your cyber risk posture.

IT Europa Winner Security Solution of the Year Northdoor winner of Security Solution of the Year award

Security Solution of the Year 2021

Award-winning security solution

Northdoor are thrilled to have WON the “Security Solution of the Year” at the 2021 European IT and Software Excellence Awards for our work with the Salvation Army.

Read our blog to find out more

Sign up for a free RiskXchange account today

Why not sign up for a Free Cyber Security risk rating today to understand more about your Cyber Security Posture? screenshot-RiskXchange

Call us on 020 7448 8500

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Read our articles about third party risk and supply chain threats

Security

Supply Chain cyberattacks: The invisible threat organisations must address

In light of the recent supply chain cyberattacks, AJ Thompson highlights the increasing risks organisations of all sizes must address, urging proactive data protection.

Security

British Airways, Boots, and the BBC hit by supply chain attack: a wake-up call for companies

Supply chain attacks highlight the urgent need for comprehensive supply chain security measures.

Security

As the threat from third parties and supply chain increases, more turn to automated solutions to help nullify increasingly sophisticated cyber-criminals

Northdoor helps companies obtain a real-time view of their supply chain vulnerabilities.

Insurance

Dealing effectively with Ransomware and Malware attacks in the real-world

Northdoor comment: 2021 has seen some high-profile breaches such as Serco and British Mensa.

Security

As the deal with Huawei is scrapped, the importance of maintaining a secure supply chain is back in the spotlight

UK Gov has order the removal of Huawei equipment by 2025, the importance of checking your supply chain for security risks is highlighted

Security

Kaseya ransomware attack highlights the risk of supply chains

Keseya ransomware attack highlights the damage done by attacks that come into the organisation through trusted partners and suppliers.

Security

Northdoor comment: Regus and Mitsubishi data breaches show the importance of securing your supply chain

Regus and Mitsubishi Electric data breaches were both caused by a partner having insecure defences of their security practices.

Security

Third-party cyber risks during periods of business disruption

When your suppliers’ business continuity plans kick into action, it’s vital to ensure your data is protected against third-party cyber risks

Solution

Protect Your Business From Third Party Cyber Risks

Discover how hackers, partners, and customers see your organisation’s cyber security posture! Get ahead of the hackers, and see what they see before it’s too late!

GDPR

Key considerations for businesses to safeguard their data - Third Party Risk

A checklist and some key considerations for businesses to secure data against third party risk under the General Data Potection Regulation.

Insurance

Do insurers really understand their own exposure to cyber threats?

While insurers may help their clients prepare for the unexpected, they are not all doing the same when it comes to their own cyber risk strategies.

GDPR

Getting to grips with cyber risk in the insurance industry

By providing insurers with crucial insight & recommendations, Northdoor shed light on how the insurance industry can improve their security posture.

GDPR

Navigating GDPR and third-party risk management:
A quick guide

Is your business at risk of a cybersecurity breach? Are your third-parties putting you at risk of a cyber attack? Northdoor will talk you through your options.

Security

Supply chain attacks: The importance of proactive monitoring

There has been a significant rise in cyber attacks on companies via third parties and partners. NCSC’s recommendations can help improve security and protect companies from these attacks.

Security

Government report highlights an awareness of supply chain risk, but a continued struggle to find a solution.

With a report showing only 12% of organisations formally review risks, we highlight the benefits of automating supply chain risk management.

Security

Can you trust your supply chain with your data?

Is your supply chain putting your organisation at risk? Review gaps in supply chain security with Northdoor 360-degree assessment.

Security

Why supply chain security is crucial for the Insurance sector

Mitigate cyber risk for insurance firms with AI-powered solutions to identify vulnerabilities in supply chains. Learn more.
Interested in seeing RiskXchange in action?

Request a demo or contact sales on: 0207 448 8500

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