New Security Solution Targets Third Party Vendors to Prevent Data Breaches

PRESS RELEASE

SAN FRANCISCO, October 21, 2015 — Bay Dynamics® unveiled today a new solution to help businesses defend against targeted attacks that involve third party vendors.

Bay Dynamics Vendor Risk Assurance™ helps businesses identify, analyze and remediate risky behaviors among third party vendors, including individual employees within those vendor organizations who may open the door to a breach. The solution is powered by Bay Dynamics Risk Fabric® - a platform that identifies, analyzes, reports and remediates risky behaviors of individuals accessing businesses’ networks.

“Based on the numerous data breaches we have seen in the past couple of years – the majority of them involving exploiting a third party vendor – it’s obvious that the current ‘defense-in-depth’ strategy many businesses rely on today is not working,” said Ryan Stolte, Chief Technology Officer and Co-Founder at Bay Dynamics. “By focusing on the typical behaviors of employees within those third party vendors, our Vendor Risk Assurance solution can immediately identify what’s out of the norm and stop the risky behavior before it is too late.”

According to the Ponemon Institute “Aftermath of a Data Breach Study,” 53 percent of organizations felt vulnerable to another breach due to negligent third parties including vendors and outsourcers. Enterprises face challenges managing their vendor risk because of the large quantity of vendor accounts, not knowing who has access to what information and how they gain access. 

Bay Dynamics Vendor Risk Assurance enhances organizational efficiencies, improves incident responsiveness and reduces vendor related risk by actively engaging vendors with timely and actionable information. The solution includes:

·         A prioritized list of top risky vendors

·         A comprehensive profile of all vendors and their daily behaviors

·         Actionable intelligence for unusual vendor behavior

·         Effective incident remediation for vendor users that showcase anomalous user behavior

·         Automated notification of risky vendor behavior to drive vendor self-governance and accountability.

Businesses can view information from Vendor Risk Assurance on a single dashboard that also integrates remediation steps including communication to executives and board members.

For more information about Bay Dynamics Vendor Risk Assurance go to: www.baydynamics.com.