Analytic software firm FICO announced today that the latest release of the FICO® Cyber Risk Score is now available on AWS Marketplace. The latest release of the FICO Cyber Risk Score exceeds the published performance results of competitors by a factor of more than 5X, further solidifying FICO’s position as the most accurate security rating on the market. AWS Marketplace is a digital catalog with thousands of software listings from independent software vendors that make it easy to test, buy, and deploy software that runs on Amazon Web Services (AWS). The company made the announcement at its sold-out FICO World conference, which runs in New York City until November 7.
With this release, FICO’s scoring algorithm uses new globally collected micro signal data that improves the ability to quantify the risk an organization will suffer a debilitating cyber-attack in the next 12 months. These micro signals provide additional security risk indicators that are especially useful in evaluating small and medium-sized businesses.
“Cyber insurers all too frequently see the devastating impact that poor vendor risk management can have on an organization,” said Richard Spotswood, Head of Cyber & Technology at Barbican Insurance. “How these organizations assess and manage the cyber risk of third parties in their supply chain is of growing importance to insurance carriers and can help differentiate prospective insureds. FICO delivers an objective and empirical standard to help organizations in this assessment process, while AWS Marketplace makes this capability more easily accessible to all organizations.”
“Small and medium-sized businesses often have a smaller internet footprint than larger organizations, making specialized risk assessment techniques especially important,” said Doug Clare, FICO’s vice president for cyber security solutions. “Our new score gives both cyber insurance underwriters and vendor risk management teams the ability to measure security posture and breach exposure across their entire supply chain, along with workflows and dashboards designed specifically to stratify, compare and manage aggregate risk.”
“AWS Marketplace makes it is easier to discover, evaluate, and procure the FICO Cyber Risk Score,” said Garth Fort, director, AWS Marketplace, Amazon Web Services, Inc. “Given the level of urgency organizations have to address cyber risk, the streamlined contracting and provisioning process of AWS Marketplace expedites our customers’ ability to realize value from cyber security solutions.”
“Empirical cyber risk quantification is on the wish list of information security professionals, vendor risk managers, executive teams and board members around the globe,” said Clare. “Our new third-party risk management dashboards offer cyber risk visibility across the supply chain, all backed by the rigorous methodologies and analytical expertise that have made FICO the trusted name in risk scoring.”
On November 19, FICO will host a complimentary webinar on “Quantifying Cyber Risk across the Supply Chain.” This session will highlight how the FICO® Cyber Risk Score enables organizations to apply objective security ratings to vendor selection, categorization and management. In addition, registrants will receive a summary of the 2019 Cyber Risk Quantification Solutions report by Chartis Research, which explains the importance of adopting a rigorous supply chain risk management regime and includes an analysis that rates FICO as category leader. Interested parties can register here.