New Cyber Risk Solution Launched by Bitsight and Moody’s Covers Over 300 Million Organizations Worldwide

Bitsight and Moody’s have joined forces to launch a groundbreaking cyber risk solution that is set to revolutionize the way organizations assess and manage their cyber threats. The new offering, known as the Implied Cyber Threat (ICT), provides insights and market context for over 300 million organizations worldwide, making it the most comprehensive coverage in the market by a significant margin.

By leveraging Bitsight’s cyber risk analytics engine and Moody’s Orbis company database, the ICT offers a unified and comparable assessment of the risks that businesses face in today’s digitized world. With cyberattacks and ransomware posing a significant threat to global business stability, the need for effective cyber risk management has never been more critical.

According to Matt McDonald, Managing Director at Moody’s, the ICT will enable customers to assess their third-party cyber risks and gain actionable insights into their extended business ecosystems. By quantifying inherent cyber risk based on firmographic indicators and risk vectors, the ICT provides organizations with a powerful tool for understanding and addressing their cyber vulnerabilities.

Derek Vadala, Chief Risk Officer at Bitsight, emphasized the importance of the partnership with Moody’s in helping institutions better understand and respond to cyber risk. The launch of the ICT marks a significant advancement in making cyber risk assessment capabilities accessible and understandable to all business audiences.

The ICT is now available to customers of Moody’s Orbis and Catalyst offerings, providing organizations with a comprehensive solution for managing their cyber risks effectively. With cyber threats on the rise, the collaboration between Bitsight and Moody’s is a timely and crucial development in the fight against cybercrime.