Bitsight, in partnership with Moody's, has launched Implied Cyber Threat (ICT), providing cyber risk insights and market context for more than 325 million organisations worldwide. The initiative is built on Bitsight's cyber risk analytics engine and Moody's Orbis company database. According to Bitsight, ICT provides the highest coverage in the market by a factor of more than 25 times. The ICT quantifies the inherent cyber risk for an organisation based on Moody's firmographic indicators, including company size, sector and geography, plus a subset of Bitsight's risk vectors, including botnet infections and open ports. As a result, the platform will provide a highly actionable inherent risk indicator, with a significant correlation to breach and ransomware. Matt McDonald, managing director at Moody's, states: "Cyberattacks and ransomware cost companies billions in losses every year, jeopardising global business stability and making cyber risk management a top priority for business leaders. "The ICT will help our customers assess their third-party cyber risks. The scale of ICT is a major advancement that will help provide actionable cyber risk insight into extended business ecosystems." Derek Vadala, chief risk officer at Bitsight, emphasises: "Our partnership with Moody's is rooted in helping global institutions better understand, quantify and respond to cyber risk. “By bringing together Bitsight cyber analytics with Moody's company information, the market now has a mechanism for assessing cyber risk at scale."
