In the quest for a reliable Digital Risk Management solution, there are several options available. These options include EPAM, MasterControl, Sphonic, and The Media Trust. Let us take a closer look at the various options. Which one is right for you? Find out in this article. We’ll also explore the pros and cons of each of these services. EPAM: “Evaluation, analysis, and monitoring of digital risks is vital for any business.”
EPAM
EPAM Digital Risk Management Solutions leverage a comprehensive set of digital systems to provide enterprise-level security for data and applications. Their products and services protect over 50,000 endpoints from cyber threats. In addition, they manage more than 100 multi-cloud accounts and thousands of public cloud accounts. EPAM’s ComplyTrack solution is designed to build risk management and compliance cases based on expert-based materials and workflows.
Boris Khazin is SVP and Global Head of Governance, Risk and Compliance for EPAM Systems. He has extensive experience in global technology delivery models, having served as Executive Vice President and Chief Technology Officer of Vested Development Inc., a global software firm. EPAM acquired Vested Development, and he led the company’s business unit for Independent Software Vendors and Technology Industry. Boris is also a board member.
MasterControl
For organizations looking to improve their compliance capabilities, MasterControl has an online risk management solution that can reduce IT costs and increase efficiency. The solution can be hosted at the company or managed by MasterControl, removing the need for additional server infrastructure. With the help of MasterControl’s experts, companies can deploy software, establish connectivity policies, and monitor hardware and software environments to ensure compliance. These benefits are available to any size company, regardless of industry or geography.
Unlike traditional methods, MasterControl’s online risk management solution allows users to configure multiple risk types. In addition, they can analyze all hazards associated with a specific activity or process. Furthermore, they can prioritize and define corrective actions based on the severity of adverse events. Because too much corrective action can slow down a quality management system, MasterControl’s risk management software allows users to filter out events and minimize corrective actions.
Sphonic
Sphonic is a London-based RegTech company that helps financial services, gaming operators, and the payments ecosystem manage the process of client onboarding. Signicat is the largest provider of electronic signature solutions in Europe, and the acquisition of Sphonic further strengthens the company’s identity platform. Signicat will retain the Sphonic brand and management team and will invest a portion of the consideration into the UK business.
The partnership will see both companies work together to improve digital KYC services for their clients. InAuth is a leader in device intelligence and authentication, and Sphonic has expertise in all areas of fraud detection and monitoring. Together, they will offer InAuth’s platform to global customers. Sphonic is a technology company based in London that provides innovative solutions to protect your brand from cyber attacks. Sphonic is a partner of Paysafe, a payment service provider that provides payment services to consumers worldwide.
The Media Trust
The Media Trust creates better digital ecosystems and connects partners for digital risk management. With a physical presence in over 65 countries and 500 cities, The Media Trust enables its clients to detect security and privacy violations, ad quality and performance issues, and other issues that may pose a risk to online ads. It is trusted by more than 600 media companies and 40 comScore AdFocus Top 50 websites.
Media Trust is a client-side malware scanner that serves as the SOC for websites and mobile apps. This technology continuously scans millions of websites and ad tags to reveal and prevent malicious activity. Unlike traditional malware detection tools, Media Trust’s technology allows customers to track and block malicious activities across their web properties. Because of its global reach, The Media Trust ensures continuous GDPR compliance. By helping clients comply with GDPR, it strengthens partner collaboration and proves ongoing compliance.
Sphonic’s APIs
Sphonic’s APIs for digital risks management solutions enable banks and financial firms to automate their client onboarding, compliance checks, and risk assessments. Their Workflow Manager solution leverages a single API to enhance data quality and reduce customer onboarding time. The company has recently expanded its suite of solutions to include real-time fraud monitoring and a case management system. The company also provides tools for visualising data and leveraging customer data.
The company has also recently launched WePay, a new venture in the UK with a mission to empower small businesses with affordable financial services. In the process, it has chosen Sphonic’s Workflow Manager to deliver Know Your Customer (KYC) and Know Your Business (KYB) services. While Sphonic isn’t the only provider of these services, it continues to focus on growing customer demands and improving its solutions to support them.
Waverley Labs
Waverley Labs, a cybersecurity and digital risk management company, recently announced that it had won a $1 million contract from the Department of Homeland Security (DHS). The contract is part of a larger SBIR program, Identity Credential and Access Management On-the-Fly. It will support the infrastructure and security of first responders, as well as improve identity proofing on-the-fly for crisis and emergency managers.
Using a risk-based approach, Waverley’s solution prioritizes digital risks and provides critical information for management. By defining and assessing risks, the solution delivers key information, prioritizes them, and prioritizes them based on their severity and consequences, from business interruption to loss of life. The system then delivers these results in a simple, easy-to-understand score-card. While the solution is not yet available for general use, it is being evaluated for broader use.
