IBM is adding cyber risk assessment and management capabilities with Factor Analysis of Information Risk (FAIR™) and the RiskLens platform to its integrated portfolios of enterprise security products and services.
IBM Security today announced Risk Quantification Services, powered by FAIR and RiskLens, to “help clients identify, prioritize and quantify security risk as they weigh decisions such as deploying new technologies, making investments in their business and changing processes,” as the announcement press release says.
IBM’s adoption of the FAIR model and the RiskLens platform reinforces FAIR’s position as the international standard for quantification of information security and technology risk -- and RiskLens as the only enterprise-grade platform for FAIR implementation. IBM operates one of the world's broadest security research, development and delivery organizations, monitoring 70 billion security events per day in more than 130 countries.
According to IBM Security, Risk Quantification Services aligns security teams and business leaders with:
- Executive Buy-In by translating the technical side of cybersecurity into the financial language of the C-suite and the board
- Informed Decision-Making by enabling security leaders to run cost-benefit analyses on risk mitigation options·
- Strategic View of Risk Management -- FAIR analysis gives executives insight into the likelihood and impact of security incidents.
IBM anticipates that RiskLens-FAIR risk assessments will be used in context with its other services (such as IBM X-Force Threat Intelligence) for client projects such as:
- Mapping a Secure Journey to Cloud
- Calculating Exposure in Mergers & Acquisitions
- Enabling a Zero Trust Remote Work Model
“Security leaders have often struggled to communicate the value of a security investment to business leaders,” said Julian Meyrick, Vice President, IBM Security.
“Our Risk Quantification Services not only enables security leaders to articulate risks and potential exposure in terms of financial loss, it empowers them to measure the actual efficacy of existing security protocols, based on our analysis of their business environment, assets, security architecture and the potential threats to their organization.”
RiskLens CEO Nick Sanna commented, “RiskLens is proud to partner with IBM to provide Risk Quantification Services to its global client base at a time when so many organizations are undertaking digital transformation projects such as cloud migration and business leaders are demanding quantified risk analysis to support decision-making on new and existing security and technology investments.”
Learn more: Attend an IBM Webinar "Quantifying Cybersecurity Risk in Financial Terms" - Thursday, September 24, 11 AM ET - Register Now