Refinitiv, a provider of financial markets data and infrastructure, is expanding the scope of its data-driven due diligence reports with the addition of cybersecurity and company credit risk ratings from BitSight and Creditsafe.
The addition of cybersecurity and credit risk ratings is in response to the myriad of legal and regulatory obligations organizations face when dealing with third parties. Suppliers, distributors, resellers and other third parties may pose significant integrity and compliance risks and these need to be managed by every company to avoid significant fines and other repercussions.
Compiled by a team of 450 analysts, the due diligence reports offer customers objective risk ratings according to six main categories of risk: identity, integrity, finance, ESG, cyber, and operational and quality risks. With the addition of cybersecurity and credit ratings, Refinitiv’s reports draw on over 200 billion cyber events monitored daily through 120 data sources, and over 330 million company credit reports on both private and public companies collected from 9,000 sources.
“BitSight Security Ratings are an objective, data-driven measurement of an organization’s cybersecurity performance designed to translate complex cybersecurity issues into simple business context,” said Dave Fachetti, Chief Strategy Officer at BitSight. “We are thrilled to partner with Refinitiv to provide their clients with visibility into this increasingly important dimension of third-party risk.
“Changing the way business information is used is core to our mission at Creditsafe,” said Matthew Debbage, Chief Executive Officer at Creditsafe Asia and Americas. “We are proud to be partnering with Refinitiv to provide their clients with vital data to understand their third-party risk.”
“Understanding your suppliers and third parties requires a detailed view of what they do for you, how they do it, and what risks that poses,” said Charles Minutella, Head of Refinitiv’s Due Diligence business. “Refinitiv has made significant investments in its own capabilities and technology to provide customers with a more sophisticated and data-driven view into the problems they might face. Our partnership with specialized data providers such as BitSight and Creditsafe further extends this capability, helping our customers to gain a more comprehensive view of their risk exposure.”
Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.
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