The regulatory landscape is in a constant state of change in order to adapt to new technologies and emerging processes. Unfortunately, many businesses struggle to keep up with the pace. According to a global risk management report, 57% of senior-level executives rank “risk and compliance” as one of the top risk categories they feel least prepared to address. These regulatory upgrades can be tremendously challenging for businesses to keep up with; and that’s without considering the added complexity of third-party risk management.
However there’s good news here too; it is important to note that third-party risk management can, in fact, be a requirement of data protection regulations and standards. This includes the EU’s General Data Protection Regulation (GDPR) and security standard, ISO27001.
Ultimately, effective third-party risk management must be done with compliance in mind.
Help to establish policies and information security across a third-party ecosystem is available in the form of frameworks and guidance documents.
The patent-pending idGenius platform by Anomalix is a leader in its space partly due to the fact that the platform was built with compliance in mind. Simply put, compliance is built in to idGenius rather than bolted on. Moreover, the platform’s structure is prepared to adapt as industry changes occur in regulatory compliance over time.
In fact, as your organization matures towards a Zero Trust model, idGenius adapts to the current compliance landscape, integrates guardrails around HIPAA, SOC 2, etc., and ultimately lowers compliance costs as well as operational risk.
Anomalix is the first and only trusted identity management solution provider in the world and it does all that and more.
Anomalix’s patent-pending, purpose-built, trusted identity management system elegantly automates both lifecycle and risk management for non-employee / third-party individuals and services.
If you’d like to learn more about how Anomalix’s world-class solutions can help your business, contact us for a demo.