cleverDome, Inc., a B-Corporation that provides a community-driven solution to protect confidential consumer information by taking that information “under the Dome”TM (i.e., secure and off the open Internet), and 3PAS Global, a third-party credentialing and risk assessment service, today announced the formation of a long-term strategic plan to offer 3PAS supply chain information security risk assessment services to cleverDome member organizations.
Effective immediately, cleverDome membership fees include not only the basic 3PAS due diligence (which is ISO-based) but also due diligence which is compliant with the cleverDome cybersecurity standard (which includes the basic ISO plus NIST, NY DFS and FINRA/SEC guidance).
“This is a very big deal,” said Joel Bruckenstein, CFP®, producer of the T3 Technology Newsletter and annual conferences for financial services firms and financial advisors. “Here’s why: The cleverDome due diligence assessment is specific to the financial services industry. It is available to cleverDome members and can be shared with other cleverDome members whereas it is not available to firms that are not cleverDome members. The cleverDome cybersecurity standard assessment, delivered through 3PAS, is the foundation of the cleverDome due diligence which all cleverDome members must complete to access and use the Dome.”
“The first step toward understanding the level of risk your vendors bring to the table is to conduct an objective, repeatable risk assessment on them based on an internationally recognized security standard like ISO27001/2. Armed with the results, you can take action,” said Rick D’Angona, CEO, 3PAS Global. “The financial services, industry-specific solution that cleverDome has created is, I believe, the first in the nation. 3PAS is honored to have been chosen for such a strategic role by a firm of cleverDome’s caliber. Together we will continue our mission to shine a bright light into the dark recesses of vendor risk.”
PROTECTING AGAINST THE WEAKEST DATA SECURITY LINK
“As recent breaches have demonstrated, often the weakest data security link in a company’s supply chain is one of its vendors with inadequate security controls,” said Bridget Gaughan, Chief Risk Officer and co-founder, cleverDome. “But companies often lack the budget and personnel to focus on how well their suppliers protect their data even though they are ultimately liable for any unauthorized disclosures.”
“Working as a team, cleverDome and 3PAS have created a streamlined online experience for vendors to determine the level of risk they pose to the cleverDome members they support,” Gaughan continued. “Because vendor due diligence is a critical component of the cleverDome membership offering, cleverDome is happy to provide the 3PAS due diligence and vendor risk management assessments as a cleverDome member benefit. Not only is cleverDome covering the normal 3PAS fees but we have worked with them to create a industry-specific solution. In addition, cleverDome will offer its expertise to members to help identify suppliers required to remediate weak controls and other areas of exposure with its comprehensive suite of cloud security products and services.”
TRANSFORMING VENDOR RISK MANAGEMENT
“Combining our global data security and privacy expertise together with 3PAS’s ability to provide transparency ‘n’ levels deep into a company’s supply chain, will transform the way our members approach vendor risk management,” said Aaron Spradlin, CEO and co-founder, cleverDome. “Until 3PAS came along, there hasn’t been a cost-effective way for companies – large or small – to comply with regulations requiring them to understand security and privacy risks posed to them by their suppliers … and their suppliers’ supply chains … and so on. By teaming with 3PAS, we’ve created a painless way to help vendors comply with membership requirements and at the same time learn how well their own suppliers are protecting their data.”
“This type of supply chain transparency will benefit all cleverDome members and will ensure that ‘the Dome’ continues to protect the critical information of its financial advisors and their clients,” continued Spradlin. “Think of supply chain interdependencies like a ‘LinkedIn’ network with its 1st level, 2nd level and 3rd level connections. Membership in the cleverDome community provides a level of vendor risk transparency that is truly revolutionary.”
ABOUT 3PAS GLOBAL
3PAS Global was founded on the principle that risk assessments should be universally accessible and shareable between companies doing business together as part of the global economy. As more and more businesses increase their reliance on external entities to help them meet their strategic objectives, it is more important than ever to identify risks that are a byproduct of these relationships and outside their control. 3PAS Global is privately held and based in Las Vegas, Nevada with offices in Riverside County, California. For more information, visit www.3pasglobal.com.
ABOUT CLEVERDOME, INC.
cleverDome,Inc. ™ is an Arizona Benefit Corporation (B Corporation) that operates as a Co-Op. Members include managed security service providers, software service vendors, custodians, broker/dealers, registered investment advisers, financial advisors and ultimately their investor clients. As a B Corporation, its mission is to protect confidential consumer information through safe, reliable and fast Internet connections. cleverDome CEO and co-founder Aaron Spradlin and Chief Risk Officer and co-founder Bridget Gaughan established cleverDome as a B corporation to create a solid and permanent commitment to delivering a community-based solution to protect confidential client information. cleverDome provides a fundamental model for the future of secure trust networks: the unification of end-point protection with a secure communication layer under a common due diligence standard. This revolutionary model is built on a community-driven platform in collaboration with financial services industry thought-leaders. The Dome is powered by NetFoundry ™, a Tata Communications business incubated in Tata Communications’ “Shape the Future” program. Learn more at www.cleverDome.com.