FICO Named Cyber Risk Quantification Category Leader for Second Year Running

Global analytics and technology provider FICO has just been named a category leader for the second year running in the new Chartis Research report – Cyber Risk Quantification Solutions, 2020: Market Update and Vendor Landscape.

“Cyber risk is a threat to every modern business, and those risks present themselves directly and throughout organizations’ extended supply chains,” said Manish Karir, vice president of Product Management at FICO. “We are proud of the intelligence our FICO Cyber Risk Score offers organizations in their efforts to manage and reduce cyber risk.”

Chartis Research is the leading provider of research and analysis on the global market for risk technology. Its new report reviews the market for cyber risk solutions and explores major trends and developments, including an assessment of the vendor landscape – in which FICO has been a category leader for the past two years running.

The FICO® Cyber Risk Score is the only predictive cyber security assessment with a data-driven, empirical, analytic score, leveraging the latest in AI and machine learning techniques. The score is based on billions of cyber risk indicators that are monitored at Internet scale. It relies on machine learning to interpret the network hygiene practices of thousands of previously breached organizations and form predictors that amplify the signals associated with risk of data loss.

Cyber risk quantification is a vital part of any third-party risk management program, and organizations can apply the FICO® Cyber Risk score to an unlimited number of partners and suppliers, to effectively analyze and control cyber risks presented to their company, data, operations and finances, by organizations other than their own.

Chartis evaluates the landscape for solutions and vendors through the development of its RiskTech Quadrant®, a proprietary methodology developed specifically for the risk technology marketplace. It considers the product and technology capability of vendors, as well as their organizational capabilities. Chartis uses two distinct categories to evaluate vendors. Firstly – ‘completeness of offering’, which evaluates the breadth and depth of functionality a vendor possesses, along with infrastructure, analytics and reporting capability. Secondly – ‘market potential’, which evaluates a range of categories such as market penetration, brand reputation, innovation and implementation and support. FICO scored well in both categories, resulting in its category leader position on the quadrant.