SAN FRANCISCO, CA (February 14, 2017) – During the 2017 RSA Conference, Bay Dynamics® is announcing a significant evolution of its flagship Risk Fabric® cyber risk analytics platform. Risk Fabric, which has been collecting, analyzing and correlating threat and vulnerability information since its launch in 2013, now enables organizations to leverage that data to calculate the potential financial impact of cyber risk, correlate it with the most critical assets and more effectively prioritize protection.
With the new Application Value at Risk capability, Risk Fabric is the only cyber risk analytics platform on the market that can assign an actual dollar amount impact based on detected threats and vulnerabilities in the enterprise environment. The platform employs unique algorithms that draw from industry standard metrics, and analyze asset values and security event data in context to determine specific risk. The platform then prioritizes which remediation actions reduce risk the most and measures how much risk was removed from the business due to actions taken. Risk Fabric enables CISOs and cyber risk leaders to understand whether the level of cyber risk in their organization is getting better or worse and perform “what if” scenarios to identify optimal actions that enable them to align actual cyber risk with their board’s risk tolerance.
“More so than ever before, boards of directors and C-level executives are holding security leaders accountable for providing cyber risk information that is actionable and traceable,” said Jeff Recor, Risk Advisory Services Principal at Grant Thornton LLP. “To achieve that goal and speak the board’s language, security leaders must translate cyber risk into dollars and cents. That’s exactly what the Risk Fabric cyber risk analytics platform does — it identifies the financial impact of cyber risks in the business and uses that metric to drive decision making.”
“Bay Dynamics has been working closely with some of the largest companies in the world, across multiple industries, to provide a system of record built on a connected data model that helps them quantify and measurably reduce the financial impact of cyber risk,” said Feris Rifai, co-founder and CEO at Bay Dynamics. “Risk Fabric continuously calculates value at risk based on actual threats and vulnerabilities detected in the environment and provides each stakeholder within the organization, including line of business application owners, boards of directors and security and risk leaders with the next most important action to take, eliminating the guesswork from security.”
To learn more about the Application Value at Risk capability go to: https://baydynamics.com/solutions/quantify-financial-impact/
To learn more about Risk Fabric go to: https://baydynamics.com/risk-fabric/
About Bay Dynamics
Bay Dynamics® enables enterprises to continuously quantify the financial impact of cyber risk based on actual conditions detected in their environment. The company’s flagship product, Risk Fabric®, is a software platform that calculates the value at risk associated with specific threats and vulnerabilities, that when mitigated, measurably reduce cyber risk exposure. Using Risk Fabric, stakeholders across the business can prioritize their remediation activities and direct their limited resources at the risks that matter most. Risk Fabric benefits enterprises with a financial measurement of cyber risk that’s based on current detectable conditions in the enterprise environment, gathered from existing security tools and business context. The platform also provides value based prioritization of remediation, reduced regulatory risk, reduced costs and improved timeliness of action by automating the delivery of personalized and prioritized vulnerabilities to line-of-business application owners responsible for remediation. For more information visit www.baydynamics.com.
Bay Dynamics and Risk Fabric are registered trademarks of Bay Dynamics, Inc. Other trademarks mentioned are the property of their respective owners.