Refinitiv, a provider of financial markets data and infrastructure that has served more than 40,000 institutions in over 190 countries, announced on Thursday it is further expanding the scope of its data-driven due diligence reports with the addition of cybersecurity and company credit risk ratings from BitSight and Creditsafe. According to Refinitiv, the addition of cybersecurity and credit risk ratings is in response to the myriad of legal and regulatory obligations organizations face when dealing with third parties.
“Suppliers, distributors, resellers, and other third parties may pose significant integrity and compliance risks and these need to be managed by every company to avoid significant fines and reputational damage.”
Refinitiv further revealed that it has developed its data-driven approach to due diligence to provide customers with detailed insights and proprietary ratings on their suppliers and third parties to help ensure they are positively contributing to the organization’s reputation and business operations.
“Compiled by an experienced team of 450 analysts, the due diligence reports offer customers objective risk ratings according to six main categories of risk; identity, integrity, finance, ESG, cyber, and operational and quality risks. The reports are suitable for any sector or business size, and for any location in the world.”
Speaking about the expansion of scope, Charles Minutella, Head of Refinitiv’s Due Diligence business, added:
“Refinitiv has made significant investments in its own capabilities and technology to provide customers with a more sophisticated and data-driven view into the problems they might face. Our partnership with specialized data providers such as BitSight and Creditsafe further extends this capability, helping our customers to gain a more comprehensive view of their risk exposure.”