Key Takeaways
- • Secure Systems Innovation Corporation (SSIC) launched X-Analytics – PE Edition (XA-PE), a cyber risk financial exposure application aimed at private equity and other investment firms.
- • XA-PE quantifies cyber risk in dollar terms at both the individual portfolio company level and in aggregate across a fund's holdings.
- • The product is positioned to help investment firms prepare for proposed U.S. SEC cyber disclosure and governance requirements affecting the investment management industry and public companies.
- • XA-PE is sold as an annual subscription and maps findings to NIST CSF and CIS CSC cyber control frameworks.
Summary
Secure Systems Innovation Corporation (SSIC), the developer of the X-Analytics cyber risk decisioning platform, announced the launch of X-Analytics – PE Edition (XA-PE), according to a Business Wire release dated April 5, 2022. The product is designed for private equity and other investment firms seeking to quantify how cyber risk translates into financial exposure across their portfolios. SSIC positions the tool as a response to the anticipated U.S. Securities and Exchange Commission proposed regulatory requirements affecting the investment management industry and publicly listed companies.
SSIC President of Cyber Risk Solutions Kevin Richards said the nature of cyber attacks requires an approach that measures both individual and aggregate potential financial impact across private equity investments, and that connecting cyber risk reduction to value preservation across portfolios is "expected now more than ever."
According to the release, XA-PE offers portfolio company and aggregated financial exposure views, identifies common control weaknesses across portfolios and their associated financial exposure, and provides dynamic views aligning cyber risk exposure across funds and fund management teams. It also includes a due diligence capability intended to help deal teams assess systemic cyber risk when making investment decisions. A control view maps to NIST CSF and CIS CSC frameworks to support integration with technical cyber teams.
XA-PE is delivered as an annual subscription, and SSIC states customers can obtain insights within a few days. The release says the platform allows fund leaders to track cyber capability improvements over time and overlay changes resulting from attacker activity. SSIC states that X-Analytics is used by Fortune 500 companies and other public and private corporations globally. The release does not disclose pricing, customer counts, or specific deployments at private equity firms.
SSIC President of Cyber Risk Solutions Kevin Richards said the nature of cyber attacks requires an approach that measures both individual and aggregate potential financial impact across private equity investments, and that connecting cyber risk reduction to value preservation across portfolios is "expected now more than ever."
According to the release, XA-PE offers portfolio company and aggregated financial exposure views, identifies common control weaknesses across portfolios and their associated financial exposure, and provides dynamic views aligning cyber risk exposure across funds and fund management teams. It also includes a due diligence capability intended to help deal teams assess systemic cyber risk when making investment decisions. A control view maps to NIST CSF and CIS CSC frameworks to support integration with technical cyber teams.
XA-PE is delivered as an annual subscription, and SSIC states customers can obtain insights within a few days. The release says the platform allows fund leaders to track cyber capability improvements over time and overlay changes resulting from attacker activity. SSIC states that X-Analytics is used by Fortune 500 companies and other public and private corporations globally. The release does not disclose pricing, customer counts, or specific deployments at private equity firms.
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