As organizations rapidly evolve and embrace digital technologies to provide their organizations a competitive advantage, new forms of risk are created. Due to the connected nature of the modern enterprise, these digital risks challenge the status quo for risk and cybersecurity teams, third-party engagements, business continuity, data privacy, and others.
According to Gartner, “The failure to manage your digital risks is likely to sabotage your digital business and expose your organization to potential impacts well beyond a simple opportunity loss. The extent to which CIOs engage in digital risk management can be a crucial factor in avoiding such dangers.”
The prevalence of technology across modern organizations is dramatically increasing the speed, scale and scope of cyber threats, which represents the biggest facet of digital risk. While the traditional, siloed areas of risk such as security, compliance, and resiliency remain important, businesses need to rethink and operationalize the necessary integration between the risk and IT security teams to keep pace with their growing digital footprints and exposure to digital risk.
“Every day, organizations take on new and ambitious Digital Transformation initiatives in order to improve customer experiences, create competitive advantage and drive profitable growth,” said Rohit Ghai, President, RSA. “Digital transformation fundamentally changes the risk equation; more data means a heightened exposure to cyber threats and ever changing regulatory requirements. Today’s announcement is another step towards helping our customers holistically manage digital risk.”
These enhancements collectively extend customers’ ability to efficiently and effectively identify, analyze and treat critical elements of digital risk.
Automated risk identification and assessment
- Fundamental to managing the growing complexity of digital risk is improving identification and continuous monitoring. Through a partnership with RiskRecon, the RSA Archer Third Party Security Risk Monitoring use case, which is expected to be generally-available in May 2019, will streamline and automate the assessment and monitoring of third parties, reducing the time to measure third party risk, and prioritizing remediation according to the most critical third parties and issues.
- The Data Gateway capability connects the RSA Archer Integrated Risk Management platform to any data set, regardless of type or size – without the need for data replication. This enhances visibility to identify and assess data while expanding platform scalability and the number of applicable risk management and governance use cases, letting customer’s risk management functions grow and evolve alongside their digital footprint.
Modern platform for analysis and evaluation
- Keeping pace with the increased speed of digital risk and the needs of the growing and changing users of risk management requires requisite speed and flexibility. To support these evolving needs, RSA is unveiling new role-based dashboards, search enhancements as well as expanded mobility options and experiences as part of User Experience enhancements to RSA Archer Suite.
- The introduction of Machine Learning and Artificial Intelligence into the RSA Archer Regulatory Content Analysis use case accelerates and improves the accuracy of mapping the ever-increasing new compliance requirements through automated identification and association with existing common requirements.
- Because any platform for effectively managing digital risk needs to have the flexibility to be quickly deployed and scale as needs grow, RSA is migrating the RSA Archer hosted solution to Amazon Web Services to deliver Digital Risk Management services wherever and whenever customers need them. This move to AWS represents another step in our SaaS strategy and offering.
Broad integrations for treatment of cyber risk
- New integrations between RSA Archer and the RSA NetWitness Evolved SIEM Platform include the “declare incident” button, which provides a real-time view of a threat, its scope and scale into the Incident Response process. While risk identification and analysis are necessary components of a comprehensive digital risk management strategy, the ultimate mitigation of business risk comes from the ability to treat risk. This becomes especially important as Digital Transformation makes cybersecurity the fastest growing area of risk, and organizations struggle with the speed and extended reach of cyber incidents in a hyper-connected business.