What Problem Are We Solving?
One cyberattack occurs every 39 seconds and nearly 95% of digital breaches result from human error. Businesses are projected to lose approximately $10.5 trillion in 2025 due to cybercrime.
Traditional approaches to risk and compliance management in many organizations involve manual data collection, interviews, and static snapshots of key data sets. This labor-intensive process leads to disconnect, poor governance, and weak cyber security guardrails across the enterprise’ value chain.
If we are to illuminate the spotlight on data privacy risk and compliance as an example, the statistics from the Privacy Risk Study 2023 (iaap and KPMG) vividly exemplifies the formidable challenge facing organizations worldwide.
The response from the regulators could not be clearer: drastic action is needed!
For example, by January 17th 2025, European Union financial entities and their critical Information and Communications Technology (ICT) providers must take urgent steps to ensure compliance with the Digital Operational Resilience Act (DORA). DORA aims to standardize how financial entities report cybersecurity incidents, stress test their digital operational resilience, and manage ICT 3rd party risk across the financial services sector and EU member nations.
Real-Time Risk Detection, Mitigation & Control
RiskAct takes a data-driven approach to strengthen resilience across the value chain and help ensure regulatory compliance.
This is achieved by assessing events across key data sets using our proprietary Artificial Intelligence (AI) models in a responsible manner. It detects and analyzes a range of target controls (e.g. NIST 800-53 Rev 4 security controls) and provides an integrated workflow based on the NIST Risk Management Framework (RMF), reducing the risk of non-compliance with the evolving Operational Resilience regulations and directives issued by different jurisdictions.
Our responsive architecture design ensures that crucial information about identified risks, such as critical business services, can be delivered staff members on any secure corporate device based on their roles and the classification of the risk. This proactive approach ensures that relevant personnel receive timely notifications, granting them the necessary time to take prompt and appropriate actions to address the risks effectively.
In our August 2023 experiential workshop, the NetraScale team will demonstrate how our proprietary AI model aims to help organizations realize the objective of Ongoing Assessment and Authorization, as outlined in the NIST Risk Management Framework, incorporating customized data sets and reporting capabilities tailored to the client.
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