THE MOST ACCURATE CYBER RISK CREDIT RATINGS

Cyber risk is critical to contemporary underwriting

Understanding online operations of a prospective client means going beyond financial reports.
Problem
All business is increasingly moving to the web
.. and it is precisely why standard credit underwriting, developed for the offline era, is no longer sufficient to estimate the de facto risk of loan approval to anyone doing business online.
GDPR was the European Union’s response to the ever-growing issue of online private data breaches due to lack of cybersecurity standards, and massive abuse of that neglect by all who saw an opportunity there. As a result of legal regulation, all the industries made a push towards the adoption of prescribed security measures, to good effect.
However, not everyone is keeping up with the pace - and apart from loss caused by hackers and other malicious subjects, companies are nowadays facing the risk of high fines if they are not compliant.
This means that regardless of financial or legal status, any company is a potentially troublesome client if their cybersecurity measures (and those of their direct vendors, partners and acquisitions to a degree) are substandard.
Challenge
Reliable and comprehensive risk assessment
To be able to take cyber risk into account when calculating the overall credit ratings, financial institutions require systematic, precise and comprehensive cyber risk ratings. To calculate such ratings, it is not only cyber posture of potential client that goes into the final score but also a cyber posture of all those closely involved with their business - their vendors, partners, acquisitions.
Understanding networks of connected subjects online and knowing the nature of dependencies is critical to understanding the risk ones 3rd parties could inflict on your business.
Solution
Understand the connections to evaluate them
Besides precision and ability to ‘understand’ the big picture, Cyber Risk Rating tool needs to be versatile when it comes to user interaction - while bank operations may only require the final score, risk departments may be more interested in complete, detailed reports, with all raw data. Finally, decision-makers need only boiled down critical business information.Abstract was built with the end-user in mind - we understand the importance, but also the obscurity of Cyber Security - and we work to make its most useful findings closer to users from all backgrounds.
Thanks to our technological innovation, we are able to precisely assess security standing of the targeted company, map all relevant online subjects connected to the target, establish their cyber risk and understand the nature of their connections, to correctly calculate how much they affect overall target’s rating.
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