Cyber Security specialist WhiteHawk Limited (ASX:WHK) has announced a number of major breakthroughs that the company believes will propel it to a new level of success.
Following three recent contract wins, the company reports that it has invoiced a total of US$360,000 in initial revenues for the provision of the WhiteHawk’s 360 Cyber Risk Framework.
The three contracts include a contract extension with a top 10 US financial institution, a contract extension with a top 12 Defence Industrial Base (DIB) company and a sub-contract on a US federal government department Chief Information Office (CIO) contract.
WhiteHawk has also announced that has engaged with a leading global insurance leader in a proof of value agreement with potential long-term value.
WhiteHawk executive chair Terry Roberts said the company has been working with this insurance leader to conduct a proof of value 360 Cyber Risk Framework for up to 10 of their current suppliers.
Mr Roberts said that by demonstrating the impactful and actionable insights garnered through the 360 Cyber Risk Framework, the target customer could develop a meaningful, long term, company-wide Vendor Risk Management programme, thereby improving cyber resiliency enterprise wide, and across hundreds of its current and future suppliers.
This proof of value incorporates the Interos business risk platform, the newly automated WhiteHawk Cyber Risk Scorecards and the advanced CyberOne Vendor Risk Module.
The target customer will receive WhiteHawk Cyber Risk Scorecards for all vendors within the proof of value, as well as a Cyber Risk Portfolio Report which identifies key vulnerability trends across the group of companies. These reports will provide additional insights based on WhiteHawk Cyber Analysts performing cyber intelligence analytics on the raw data collected from the security rating providers.
Additionally, the customer will have access to an integrated Vendor Risk Management (VRM) Dashborad from partner CyberOne, which will serve as a central location to track supplier risk status and mitigation activities, including the implementation of cyber risk controls.
“As with any other major global enterprise, vendor risk is very real to the insurance industry. We know our automated, integrated and scalable approach can enable Insurance Groups to identify and mitigate cyber and business risks in near real time,” Mr Roberts said.