Case Study: Global Financial Services Firm reduces third-party breach risk with BitSight Security Ratings

Global Financial Firm Reduces Risk of Third Party Breach with BitSight Security Ratings

Global Financial Services Firm, a leader in commercial banking, faced growing third‑party breach risk from thousands of global partners and found annual questionnaires and audits provided insufficient, often aspirational, insight. To address this, they engaged BitSight and adopted BitSight Security Ratings for Third Party Risk Management to gain continuous, outside‑in visibility into partners’ security postures.

BitSight implemented an automated, evidence‑based SaaS solution that generates daily security ratings and continuous monitoring, enabling the firm to quantify risk, prioritize higher‑risk partners, and reallocate resources away from time‑consuming questionnaires. The BitSight approach identified risks questionnaires missed, improved partner conversations, and delivered measurable visibility (Security Rating: 780) that allowed the organization to act proactively to reduce third‑party breach risk.