TIDMCCS
Crossword Cybersecurity PLC
04 September 2019
New Rizikon Assurance 2.0 empowers companies to take control
of
third-party risk
Every day new data breaches, CSR embarrassments and regulator
fines are announced due to supplier failings, despite third-party
risk being recognised as a necessary top ten corporate focus for
2019.
Rizikon Assurance 2.0 is designed to address this issue
once-and-for-all - with Creditsafe integration, 360-degree Supplier
Scorecards and a world-first Assurance Framework Dashboard showing
a complete view of supply-chain risk.
4 September 2019 - London, UK - Crossword Cybersecurity plc
(AIM: CCS), has today announced the availability of Rizikon
Assurance 2.0, an online solution to the problem of third-party
risk. The new version allows organisations to visualise all risks
for each third-party through fully customisable 360-degree supplier
scorecards. The new Third-party Assurance Framework Dashboard - an
industry first - gives Supplier Management teams, Chief Risk
Officers and senior executives a complete understanding of
third-party risks across their supply chain, helping identify
problem areas and prioritise remedial action.
Every day there is a new report of a third-party (often a
supplier) causing financial, reputational
or regulatory harm to a company - this could be a data breach,
an issue with child labour, a missed delivery date, or a safety
problem. Rizikon Assurance helps companies address the pressure
from Regulators, Auditors, Compliance professionals and customers
to improve third-party assurance & risk management. It supports
the Rizikon Supplier Assurance Framework, an optional, technology
independent, methodology for organising, managing and measuring
third-party risks.
Rizikon Assurance helps organisations take control of
third-party risk with secure online assessments in their own
branded portal, automated assessment scoring and workflows. Both
standard and customised assessments are securely sent to third
parties, once submitted online they are automatically scored, and
can be manually rescored by 'Assessors', who can flag answers and
return them for more detail or improved responses. Procurement and
Supplier managers and executives can then instantly use data to
understand the risks associated with that supplier, a specific risk
area, or across the whole business.
Creditsafe integration
Rizikon Assurance 2.0 is now fully integrated with data sources
from Companies House and credit ratings via Creditsafe. This means
that Suppliers can be verified against Registered information, and
limits financial exposure by giving finance and procurement teams
instant access to the financial risk data for all Suppliers in the
Creditsafe database of over 320 million companies. Credit risk can
now be viewed alongside all other areas of Supplier risk (Cyber,
GDPR, Continuity, etc.) on a single scorecard.
360(o) risk visibility for each third-party
New Rizikon Assurance Scorecards allow customers to see all
risks for each third-party with combined risk information from the
Assessments they have completed on multiple topics, as well as data
from Companies House and credit-scoring from Creditsafe. Scorecards
give an at-a-glance 360-degree view of third-party risk in a
context defined by the customer, as each scorecard segment and
weighted risk calculation is customisable.
Understand third-party risks and where they are concentrated
The industry-first Assurance Framework Dashboard gives
executives and risk professionals a top-level view of all Risk
across all third parties, organised by 'Impact levels'. It allows
them to very quickly focus on high 'criticality' third parties
needing the most attention and drill-down into those risks. The
dashboard also highlights where assurance information gaps exist,
which may leave a company exposed.
Rizikon Assurance comes with a growing library of standard
assessments that organisations can use to support third-party
assurance covering areas including Cyber Security, Modern Slavery,
Anti Bribery & Corruption, GDPR and Minimum Wage legislation.
These can be combined with customised assessments based on a
customer's own tried and tested question sets.
Delivered as a SaaS platform, the installation and hosting,
maintenance, support and security of Rizikon Assurance is taken
care of by the Crossword Cybersecurity team, reducing both risk and
total cost of ownership. Security features include two-factor
authentication and 256-bit end-to-end encryption. All data is
hosted in the UK across multiple data centres.
Jake Holloway, Director responsible for Rizikon Assurance,
commented: "Despite third-party risks being one of the top
enterprise risks for any large company or organisation, third-party
risk assurance is often under resourced and simply not visible at
board level in the same way as other areas, such as global trade
policy or cyber security. The Rizikon Supplier Assurance Framework
and Rizikon Assurance 2.0 give companies a methodology and software
platform that improves third-party assurance and risk management
through efficiency, automation and better visibility of risk areas
and individual suppliers. Finally, boardrooms can answer the
question 'How much third-party risk do we have and exactly where is
it?'"
A brochure outlining the features and benefits of Rizikon
Assurance 2.0 can be downloaded at
https://www.rizikon.io/s/RA2.pdf
Contacts
Crossword Cybersecurity plc - Tel: +44 (0) 20 3953 8460
Email: info@crosswordcybersecurity.com
Tom Ilube, Chief Executive Officer
Mary Dowd, Finance Director
Grant Thornton (Nominated Adviser) - Tel: +44 (0) 20 7383
5100
Colin Aaronson / Jamie Barklem /Niall McDonald
Hybridan LLP (Broker) - Tel: +44 (0)203 764 2341
Claire Louise Noyce
For media enquiries contact:
Lorena Duke, GingerPR
lorena@gingerpr.co.uk, 01932 485 300
About Crossword Cybersecurity plc
Crossword Cybersecurity plc focuses on the development and
commercialisation of university research-based cyber security
related software and cyber security consulting. The Group's
specialist cyber security product development and software
engineering teams work with its university partners to develop the
research concept into a fully-fledged commercial product that it
will then take to market. The Group's aim is to build up a
portfolio of revenue generating, intellectual property based, cyber
security products. Rizikon Assurance, Crossword's leading product,
is a SaaS platform that enables medium to large companies to assess
the cyber maturity and GDPR readiness of their suppliers.
Crossword's team of expert cyber security consultants leverages
years of experience in national security, defence and commercial
cyber intelligence and operations to provide bespoke advice
tailored to its clients' business needs.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRALJMLTMBBMMRL
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