RiskRecon
Third Party Risk Management: RiskRecon
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What is RiskRecon?
RiskRecon is a platform for detecting risks (related to e.g. vulnerabilities, configuration errors, disclosure of confidential data) of the enterprise and counterparties, which automatically presents risk matrices and their links to accepted standards (e.g. DORA/NIST/CIS). With advanced analysis tools and continuous monitoring, RiskRecon identifies potential risks associated with supply chain partners, enabling early preventive action that protects the entire business network. RiskRecon facilitates deep, continuous risk insights by assessing more than 40 security criteria in nine domains.
RiskRecon features
Main features and functions of Riskrecon
Risk visualisation
By analysing an organisation's assets, RiskRecon identifies potential threats at an early stage, enabling a rapid response. Through the use of dozens of risk indicators and the global support of Mastercard's security department (RiskRecon's owner), the platform always has the latest threat information.
Response and prevention
RiskRecon enables preventive actions to be taken quickly, minimising the potential damage from cyber-attacks. These actions can automatically be implemented according to the implemented risk profile or through API integrations with existing security solutions.
Comparison with the market
Thanks to its ability to identify the risks of any organisation, RiskRecon is able to present a comparison of the organisation with the market against specific IT risk domains, informing of the actual degree of security in relation to, for example, competitors.
Monitoring and analysis
The solution offers comprehensive tools for monitoring activity, analysing trends and identifying possible vulnerabilities in the IT infrastructure. RiskRecon not only identifies problems, but also addresses them to the specific recipients responsible for the systems in the form of a remediation report with a defined response time set out in the SLA.
Monitoring of external partners
RiskRecon meticulously analyses the security levels of external business partners, identifying potential threats that could affect the security of the entire supply network.
Why RiskRecon
Why use RiskRecon?
01
Maximising the effectiveness of supplier assessment
improving the cyber risk management process of suppliers
faster selection and implementation of new suppliers
prioritisation of third-party assessments based on the results obtained from the system
focus supplier assessment on areas known to be in breach of risk requirements
focusing on the lowest performing suppliers
04
Improving supply chain visibility
The system uses state-of-the-art technology to ensure effective protection of the entire delivery network and information exchange across an organisation's entire business network.
02
Effective audit without formalities
Ability to quickly and easily verify the security status of infrastructure at suppliers / subsidiaries / offices and branches without notifying anyone of the audit - use of the RiskRecon tool does not require any formal steps, including legal steps, prior to use.
05
Risk reduction
The ability to detect potential risks early contributes to the minimisation of supply chain risks. With RiskRecon, an organisation can proactively address a threat before it materialises.
03
High precision
RiskRecon provides a high level of accuracy and a low false positive rate. RiskRecon asset discovery is designed to be as accurate as possible, with an extremely low rate of false positives (false positivies) at less than 1.5%.
06
Adjusting grades
RiskRecon aligns assessments with the organisation's accepted level of risk and the areas that are most important to the organisation. RiskRecon automatically prioritises cyber risk issues based on their severity and the value of the system at risk.