SecurityScorecard has partnered with credit score score agency Fitch Ratings, in a shift designed to deliver investors with clearer insights into companies’ cybersecurity postures.
The announcement will come much more than a year considering the fact that the begin of COVID-19 pandemic, a disaster which has led to a lot of corporations going through fast digitization programs and shifting to distant performing designs. This has, in switch, widened the attack floor for cyber-criminals, generating enterprises much more susceptible to breaches.
In this landscape, cyber-risk is becoming an significantly vital thing to consider for traders when evaluating a company’s credit rating risk, thanks to the most likely critical money, reputational and regulatory implications of breaches.
When cyber-risk is already provided in Fitch’s credit score score investigation, it will now be capable to leverage SecurityScorecard’s “outside-in” scoring methodology to give a additional standardized and transparent way of examining this area.
The partnership will originally emphasis on sectors where cyber-risk is especially content, these kinds of as financial institutions and other economical providers, despite the fact that there are plans to department out into other industries in the long run.
Kevin Duignan, global analytical head for Fitch Ratings, commented: “Through our collaboration with SecurityScorecard, Fitch appears to deliver investors with more insight into comprehension and comparing cyber risk exposure throughout a wide established of establishments, starting with banking companies.”
Aleksandr Yampolskiy, CEO and co-founder of SecurityScorecard reported: “SecurityScorecard is thrilled to associate with Fitch Scores to enable traders of all measurements realize the accurate risk posture of corporations, so they can competently and effectively make intelligent investments.
“SecurityScorecard’s greatest-in-course security scores are speedy starting to be a critical tool to aid traders realize which organizations are at highest risk of a cybersecurity breach, which can impact investments as nicely as stock costs.”
Fitch has presently analysed 484 world banking companies employing SecurityScorecard’s scoring requirements, the effects of which it has detailed in a different report entitled Discovering Lender Cybersecurity Risk.
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