Security Ratings Market Leader Expands Global Reach with New Strategic Alliance
CAMBRIDGE, MA - June 13, 2017
ElevenPaths, the Telefónica Cybersecurity Unit specialized in the development of innovative security solutions, and BitSight, the Standard in Security Ratings, have announced a new alliance that will enhance the visibility of supply chain risk for Telefónica customers worldwide.
The agreement between ElevenPaths and BitSight provides Telefónica customers with access to the BitSight Security Ratings Platform for security benchmarking and continuous supply chain risk management. This new offer will be part of CyberThreats, 11Paths’ threat intelligence service, delivering:
Using evidence of security incidents from networks around the world, the BitSight Security Ratings Platform applies sophisticated algorithms to produce daily security ratings for organizations, ranging from 250 to 900, where higher ratings equate to lower risk. Previous studies from BitSight, independently verified by third parties, show that companies with a Security Rating of 400 or lower are almost five times more likely to experience a data breach than companies with a Security Rating of 700 or higher.
“As an organization’s supply chain and network of suppliers and third parties grow, so does the risk of a potential breach. For most companies, it is essential that third parties have access to sensitive systems and files in order to effectively carry out their work. The challenge is how to continuously assess those vendors’ security practices,” said Nikolaos Tsouroulas, Head of Cybersecurity Product Management for ElevenPaths. “For the first time, we are offering our customers a scalable solution for continuous visibility of the security level of their own organizations and all the organizations with their entire supply chain, through BitSight’s trusted and time-tested technology.”
Data from Tacyt, the cyber intelligence mobile threat tool developed by ElevenPaths, will also be integrated into the BitSight Security Ratings Platform for Telefónica customers in order to enhance an organization’s visibility of the risks posed by mobile applications within the supply chain.
"Traditional strategies and existing tools for measuring and mitigating third party risk are not designed to address the new and rapidly increasing stream of constant threats," said Dave Fachetti, SVP of partnerships for BitSight. "BitSight's Security Ratings Platform provides visibility of the dynamic risks that are developing faster than traditional methods can scale, without being intrusive or resource-heavy. We are excited to bring our unique solution to market with such a strong global partner, enabling us to expand our reach around the world."