Acuity Risk Management is delighted to announce the signing of a commercial licence with the Open Group to incorporate the Open FAIR quantitative cyber risk framework in its STREAM Integrated Risk Manager SaaS platform.
FAIR (Factor Analysis of Information Risk) is a quantitative framework for cybersecurity and operational risk which has been adopted as an international standard by the Open Group. Open FAIRTM is generating much interest and the non-profit FAIR Institute has 6,900 members, representing 30% of Fortune 1,000 organisations and 17 local chapters around the world.
By using FAIR with STREAM, organizations can assess and prioritize risks in financial terms, evaluate risk mitigations, measure return on investment and in doing so, better inform cyber risk conversations with the board. Within STREAM, this capability integrates seamlessly with related applications such as compliance, incident, action and business continuity management.
Simon Marvell, Partner at Acuity states "It has never been more important to understand cyber risks in financial terms so we are excited to announce this commercial licence. Acuity is seeing a significant shift towards a quantitative approach, both within our customer base and the industry as a whole so we are pleased that our award-winning platform, STREAM is at the heart of this pivotal transformation. For a long time now, STREAM has been able to facilitate quantitative risk assessments, allowing firms to make an appropriate risk-informed decision and ultimately strengthen their resiliency.”
For further information or a demonstration of FAIR within STREAM, please contact us or visit the Acuity website.
Acuity Website: https://acuityrm.com/
Open Fair FAQs: https://www.opengroup.org/certifications/openfair/faq
Founded in 2005, Acuity Risk Management is the creator of STREAM Integrated Risk Manager. STREAM is a powerful enterprise GRC platform which can be used by CISOs and other risk professionals to present cyber risk information to the board, demonstrate compliance and justify cyber investments.
STREAM was voted Cyber Security Product of the Year (2018) by CIR magazine and with the maximum 5* rating from Secure Computing magazine for the last five years, STREAM is used in 28 countries across multiple business sectors.
The award-winning solution provides tight integration and correlation of all of the data required to understand cyber risk with advanced quantitative and qualitative analytics, dashboarding and reporting enabling risk-informed management decisions and demonstrating risk-based compliance with regulations. The expertly engineered database provides all-inclusive visibility of risk-related information on a single-screen, thus making it efficient and easy to prioritise critical areas of the business and make risk-informed decisions.
With personalised dashboards and a set of standard and custom reports, it has never been easier to gain value from risk management.