The Industry’s First Third-Party Risk, Collaborative Assessment, and Threat Intelligence Monitoring SaaS Platform
Warren, New Jersey – February 26, 2016 – Prevalent today announced the launch of its Third-Party Risk, Collaborative Assessment, and Threat Intelligence Monitoring Software-as-a-Service platform designed for ‘Smarter’ risk management. Based on Version 4.0 of Prevalent’s award-winning Vendor Risk Manager (VRM) technology, Prevalent Synapse™ delivers on the promise of next generation integrated capabilities of the company’s VRM and Vendor Threat Monitor (VTM) platforms; now integrated and enabling virtually any form of Collaborative Assessment, data supply chain, and associated workflows.
The Prevalent Synapse Architecture enables smarter risk management by providing the first of its kind Collaborative Assessment Vault that is fed by a Contributory Assessment Database, enabling both contributors and consumers to pass threat and risk intelligence information to another entity, securely and efficiently. This architecture helps organizations across all industries reduce risk and cost in a shared assessment model, leveraging standardized content, automation, and threat intelligence.
“This is not only a smarter approach to risk management, but it provides organizations with a clear path of innovation”, stated Jonathan Dambrot, CEO and Co-Founder of Prevalent. “A ‘synapse’, by definition, evolves as it joins and creates new connections. In much the same way, Prevalent Synapse™ enables both contributors and consumers the ability to securely share risk intelligence and assessment information.”
In addition to the newly architected and tightly integrated VRM/VTM platform, Prevalent has introduced new advanced components to VRM that enable this revolutionary collaborative assessment architecture:
- Services Framing – a highly configurable means for any organization to tailor their definitions of inherent risk determination based on virtually any number of business relationships and dimensions. This is a key cornerstone to enabling a collaborative set of raw risk assessment and threat intelligence data to be translated into a uniquely defined risk score, based on the business relationship between the two entities.
- Recommendation Library – a workflow and knowledgebase combined to provide a consistent treatment for findings and risks across the organization based on industry frameworks for remediation in areas where deficiencies or insufficient controls are identified in the risk assessment and threat analysis process.
- Shared Portal – the core of the collaboration engine; the shared portal enables the Many-To-Any collaboration, securely and with source authorization and control.
“This is a paradigm shift in managing external risk and Prevalent is leading the change”, stated Norman Menz, CTO and Co-Founder of Prevalent. “The unification of our VRM and VTM platforms creates a new risk management ecosystem and allows us to provide the most comprehensive and effective purpose-built solution for global organizations to protect themselves from third and fourth-party risks.”
Prevalent Synapse™ is clearly an industry first and has already begun to deliver on the promise of the collaborative risk assessment time and cost savings. Earlier this year, Prevalent launched the Legal Vendor Network, a membership-based program designed specifically for law firms to assess and monitor third-party vendors for security and data risk, based on the Prevalent Synapse Architecture.
Prevalent is a vendor risk management and cyber threat intelligence analytics innovator with a reputation for developing cutting-edge technologies and highly-automated services that are proven to help organizations reduce, manage and monitor the security threats and risks associated with third and fourth-party vendors.