Continuous, Collaborative Supply Chain Defence for Financial Services

Yes - Active Supply Chain Security’s continuous visibility, proactive threat management, and collaborative defence is vital for minimising cyber risk in third-party software for financial services supply chains. For example, Lloyds Wealth Management (formerly SPW) uses ASCS’s network visualisation tool to see 95% of its supply chain network and swiftly uncover vulnerabilities even among the smallest suppliers.

Third-party risk management platforms rely on point-in-time assessments to understand supply chain risks whereas Active Supply Chain Security understands real-time supply chain risks by mapping your entire supply chain beyond direct 3rd parties and overlaying proactive threat intelligence tools. For instance, Risk Ledger’s ASCS-focused platform provides continuous monitoring and insights, identifying obscure nth party dependencies, pinpointing critical concentration risks and sending you real-time alerts of emerging threats.

Each pillar of ASCS supports financial services’ regulatory compliance. 

‍

• Standardised security assessments are aligned with all major cyber security regulations affecting financial services. 
• Network-first visibility enables financial institutions to map all third parties and their subcontractors supporting their "Important Business Services" (required under UK and EU rules). 
• Continuous monitoring enables detailed reporting on regulated entities’ third parties (i.e. under the FCA and PRA OpRes regime). 
• Collective defence shifts the focus from individual resilience to sectoral resilience (as intended by the FCA’s and PRA’s Operational Resilience rules and the EU’s DORA).