TruSight, the financial industry’s leading provider of validated third-party risk data, today announced a partnership with Whistic, the creator of an innovative network to assess, publish, and share vendor security information. The alliance will enable third parties to quickly inform prospects and customers that they are TruSight validated and streamline customers’ requests to access their TruSight assessments and additional audit reports.
TruSight and Whistic aim to improve the third-party experience by reducing the duplicative work associated with third-party risk assessment requests. Whistic helps companies streamline and automate their third-party risk management (TPRM) programs through the Whistic Vendor Security Network, which accelerates the vendor assessment process by enabling businesses to access and evaluate a vendor’s Whistic Profile – which consolidates all a vendor’s security documentation, including questionnaires, certifications, and audits, into one place. TruSight, an industry-backed platform, facilitates the efficient exchange of standardized and fully validated risk data between service providers and their customers. The TruSight utility model, in which assessments are performed once and shared by many, reduces the time and effort spent by both financial services institutions and third parties by eliminating the need for repetitive and duplicative questionnaires and assessment inquiries.
The partnership between TruSight and Whistic helps suppliers take their assessment reports and turn them into a sales acceleration tool. As a TruSight partner, Whistic is exclusively offering a free Profile to TruSight Third Party Suppliers. TruSight third-party suppliers can upload their TruSight Validated Badge, security questionnaires, audit reports, security certifications, and other documentation to their Whistic Profile to effortlessly share due diligence efforts with customers and prospects to expedite the security review process. The TruSight Validated Badge will link to a third-party assessment inquiry form, allowing customers and prospects to easily request access to the third-party’s assessment – cutting down on the sales cycle while promoting the due diligence efforts of the third-party and ensuring third parties retain the rights to their security data.
“Whistic shares our belief in the importance of a trusted supply chain, particularly in today’s volatile risk environment,” said Luke Nordlie, Chief Revenue Officer of TruSight. “Our partnership allows us to further streamline the assessment process by centralizing the distribution of due diligence information. We are excited by the opportunities this partnership brings and look forward to working with Whistic to provide even more advantages to third parties and customers in the future.”
“TruSight has played a key role in driving industry change around third-party risk assessments, and this partnership is another step in that direction,” said Sunil Dsouza, Vice President of Partnerships and Business Development at Whistic. “By giving vendors the ability to quickly respond to common risk assessment and review process challenges, our partnership will give them improved support to build trust with customers. Through the Whistic Profile, third parties will be able to proactively share a snapshot of their security efforts with prospects and customers, giving businesses greater visibility into supply chain risk and make more informed risk decisions.”
TruSight, an industry-initiated utility, is the leading provider of comprehensive, validated third-party risk assessments. Developed and backed by five of the largest global financial institutions, including American Express, Bank of America, JPMorgan Chase, BNY Mellon, and Wells Fargo, the TruSight methodology combines best practices and standardization to deliver the highest quality data, enabling businesses to gain greater visibility into supply chain resilience.
For more information, contact:
Laura Nelson or Erin O’Brien
SVM Public Relations