RiskLens was named Cyber ​​Risk/Security Product of the Year 2022 Winner by Risk.net – Yahoo Finance | Region & Cash



The 2022 Risk Technology Awards recognize RiskLens’ innovation and leadership in developing cutting-edge technology to help organizations adopt cyber risk quantification

RESTON, Va. and SPOKANE, Wash., Aug. 05, 2022 (GLOBE NEWSWIRE) — RiskLens, the leading provider of cyber risk, prides itself on innovation and leadership in developing a software platform to understand the true financial impact of cybersecurity on organizations tackling quantification (CRQ) and cyber risk management software, was awarded top honors as 2022 Cyber ​​Risk/Security Product of the Year by Risk.net at its annual Risk Technology Awards.

This year’s award winners were selected in 25 categories by industry experts including Sid Dash, Research Director, Chartis Research; Jason Dziedzic, Director, Second Line Risk Oversight, Citizens Bank; Deborah Hrvatin, Chief Risk Officer, CLS Group; Andrew Sheen, Independent Risk Advisor; Jeff Simmons, Chief Risk Officer/Chief Operating Officer, MUFG Securities; Simon Watkins, contributor, Risk.net; Jay Wood, Global Head of Digital Data Lifecycle Management, BNY Mellon; Duncan Wood, Global Editor-in-Chief, Risk.net.

The judges weighed a number of factors including risk management, creativity and innovation, liquidity delivery, quality of service and customer satisfaction, and addressing regulatory issues.

According to Cybersecurity Ventures, global cybercrime is projected to cost $10.5 trillion per year by 2025. As a result, IT and security leaders are increasingly being questioned by executives about the impact of cyber risk on their organizations. Many Cyber ​​Risk Quantification (CRQ) solutions target large, more mature programs, leaving many organizations unprepared to quickly learn and understand the likelihood and potential financial consequences of cyber threats.

“We are very honored to receive this award from Risk.net,” said Nick Sanna, President and CEO of RiskLens. “RiskLens helps organizations better manage their cybersecurity investment decisions and the risks of digital transformation. We work with large corporations and government organizations to help them optimize their cybersecurity investments and meet regulatory requirements through quantitative cyber risk management.”

Organizations achieve such outcomes because the RiskLens SaaS platform enables them to understand their risks in financial terms through several key capabilities:

  • Rapid Risk Assessments: Generates a risk ranking by probable risk of loss in dollars in minutes, using benchmark data.

  • Detailed top risk assessments: Guides risk analysts through more detailed internal data collection to create customized reports on top business risks – a roadmap for applying mitigation measures.

  • Risk Treatment Analysis: Model the impact of controls on the risk drivers for top risks to see which provide the greatest risk mitigation financially – then compare the results to the cost of the controls for a true cybersecurity cost-benefit analysis.

“We greatly value the recognition of this award as RiskLens is currently the only cyber risk quantification platform – trusted in real enterprise environments around the world, from Fortune 1,000 companies to SMBs – specifically designed to the world’s most reliable risk quantification model, Factor Analysis of Information Risk (FAIR™),” said Bryan Smith, Chief Technology Officer, RiskLens. “The FAIR model was created by RiskLens and is endorsed by the National Institute of Standards and Technology (NIST) and other agencies.”

Other key differentiators of the RiskLens offering are:

  • While other services purport to analyze cyber risk through indirect methods such as vulnerability counts or compliance to control frameworks, RiskLens is the only platform that directly measures cyber risk as a risk of loss in dollars, to provide stakeholders with clear, non-technical reporting.

  • Since RiskLens is a SaaS platform, there are no additional costs for managing updates and configurations to increase deployment costs.

  • With FAIR and RiskLens, CISOs can make spend prioritization and budget decisions based on a financial understanding of cyber risk—and get the data they need to support those decisions, faster and easier than ever before.

RiskLens clients typically achieve high ROI quickly by applying quantitative cyber risk analysis to tactical decision-making, such as: e.g.:

  • Identify top unrecognized risks for organizations

  • Choose from competing security investment options based on return on investment to reduce likely risk

  • Radically reduce the time staff spends on risk analysis – often cutting weeks of work down to minutes – with the platform’s fast and easy analytics capabilities.

  • Save on insurance expenses by getting a true financial risk picture.

  • Identify risks and mitigation actions early in the DevSecOps process

  • Based on a cost-benefit analysis, see the real cost of legacy controls to save on licensing fees

  • Determine the most cost-effective controls to meet regulatory requirements.

RiskLens has expanded its offering by

  • RiskLens Pro, a simple and affordable managed service that helps organizations quickly define, assess and communicate financial cyber risk without requiring in-house expertise or a significant investment of time. This is the perfect starting point for CISOs and their teams to quickly realize advantages in quantifying cyber risk.

  • RiskLens’ My Cyber ​​Risk Benchmark is a simple web-based tool that allows any organization to quickly assess the likelihood and impact of the top cyber risks in their industry. Organizations can start with a limited, industry-specific view of top risks for free; Users can then upgrade for a small fee to see additional risks and how their organization compares to others in their industry.

RiskLens also has advanced capabilities through technology partnerships through RSA, Security Scorecard and ServiceNow, and consulting through IBM, Protiviti, C-Risk and MAK Insights.

The company continues to expand and refine its training https://www.risklens.com/products-services/fair-training-certifications and https://www.risklens.com/products-services/analyst-training-certification- program and services https://www.risklens.com/products-services/cyber-risk-services for customers.

About RiskLens
RiskLens helps organizations make better cybersecurity and technology investment decisions with software solutions that quantify cyber risk in financial terms. The company developed Factor Analysis of Information Risk (FAIR™), the international standard for quantifying cyber risk, and is a technical advisor to the FAIR Institute. The RiskLens platform is the only enterprise-wide software-as-a-service (SaaS) application for FAIR analysis. RiskLens creates flexibility to adopt FAIR and create programs that support organizations at different levels of maturity and with different business needs. With capabilities across the risk management process and a large client base of Fortune 500 companies, RiskLens is the only company with the expertise to help organizations make their most complex and challenging cybersecurity decisions. Visit us at www.risklens.com.

Media contact:

Cathy Morley Foster
Eskenzi PR
(925) 708-7893 (cell)

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