UpGuard Vendor Risk Customer

Established in 1992, our customer is one of Australia’s largest fund managers with more than 750,000 customers. They are the custodians of an asset pool of over $90bn.

Headquartered in Sydney, Australia with offices throughout New South Wales, the Australian Capital Territory, Victoria and Western Australia, Our customer has a team of more than 800 employees servicing the needs of its customers.

The challenge

With today’s increasing exposure to third-party risks, and the upcoming release of Australian financial services regulator APRA’s CPS 234 Information Security standard, our customer wanted to understand how their third-party vendor security was performing from an external perspective. Additionally, our customer recognised the limitations of traditional, spreadsheet-based vendor security questionnaires, which often result in fewer vendors being monitored due to cumbersome workflows and manual process inefficiencies.

The solution

UpGuard was chosen to get visibility into the risks of their own systems, as well as those of their vendors and partners. UpGuard Vendor Risk provides continuous risk monitoring, security ratings, and automated vendor questionnaires. UpGuard’s risk monitoring capabilities provide assurance that our customer's own internet-facing properties were securely configured and gave them the technical information to guide their vendors toward reducing risk to an acceptable level. Vendor security ratings enabled the team to prioritize the assessment of third parties based on risk and the questionnaire assessments closed the loop with detailed responses on internal controls needed to safely do business.