RiskRecon, a division of Mastercard, focuses on the identification and mitigation of cybersecurity risks within businesses and their supply chains. Utilizing its sophisticated technology, RiskRecon provides an understanding of potential risks, creating action plans according to the risk-priorities of a business. The primary usefulness of the company lies in its provision of cyber risk analysis and management. RiskRecon has developed a reliable, data-driven platform that offers insights to assist businesses in identifying weak points in their security protocols. Efficient and scalable risk management programs can be established using the RiskRecon platform, thereby allowing for a significant transformation from previously manual processes to automated solutions. By using RiskRecon, businesses can successfully manage cyber risks, resulting in better overall risk outcomes.
Do You Manage Peer Insights at Mastercard (RiskRecon)?
Access Vendor Portal to update and manage your profile.
Ease of use, great portal that allows us to review different vendors and ensure there 3rd party services meet our needs. Continuing support by support team to inform us of new product specific updates or additions that would allow us to review our 3rd parties and ensure they meet different Information Security criteria or security frameworks such as HIPPA, NIST, SOX, etc..
Ease of use and supplier Data breach notification
The ability to share reports with third parties so I don't have to be a go-between for any issues that arise with the third parties that we ask to review and respond to. They have an interface where they can see the report results and recommended solutions.
There are so many integrations sometimes it is difficult to know which we should use or provide the most bang for the buck. Also, the tool has so many frameworks and controls it can be difficult to ensure the vendor meets the ones critical to success to our TPRM program.
False positive rate, not fully customizable, not combined with offline security assessment
Weaknesses: 1. Currently using separate user IDs and passwords, but we are working on AD integration (which it was not obvious was available in their administration menu); 2. ability to trace what improved or declined between scans is limited (beyond the generic title); 3. Reports can be tricky if you aren't paying attention to which categories in your portfolio are being applied to them.