Case Study: Global Financial Services Firm achieves continuous vendor risk monitoring and stronger third‑party security with BitSight Security Ratings

North American Bank Adopts BitSight Security Ratings for Vendor Risk Management

Global Financial Services Firm, a long-established North American bank, needed to continuously manage vendor security risk to meet regulatory guidance and move beyond point‑in‑time, questionnaire‑based assessments. To address this challenge they evaluated and adopted BitSight’s solution — BitSight Security Ratings for Third Party Risk Management — to gain objective, continuous insight into the security posture of their suppliers.

BitSight delivered a SaaS portal that provides daily security ratings, alerts, forensic evidence of issues (e.g., botnets, exploited hosts, misconfigurations), and the ability to share findings with vendors for remediation. As a result, the firm automated and prioritized vendor risk management, integrated BitSight ratings into vendor scorecards, sped up due diligence, enabled faster responses to high‑profile vulnerabilities, and achieved measurable time and cost savings while improving negotiation and remediation outcomes.