Experience True
Peace of Mind
by Automating your
Risk Management

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- WHAT WE DO -

About Phinity Risk
Solutions

Phinity Risk Solutions develops cloud applications for the information risk and governance market. The Phinity Risk Solutions platform integrates into your risk and compliance processes to help you decrease your risk exposure. Boost your risk management capability and manage your organisational risks, from identification through to remediation, with the help of our powerful solutions.

Make informed decisions faster with our strong and relevant reporting based on your risk and compliance data.

- PROBLEMS WE SOLVE -

Integrated Risk
Management Solutions

THE PHINITY RISK SOLUTIONS

Track Risks from Identification to Remediation

With Phinity, risk management is made simple. Our reliable, adaptable and easy to use cloud platform will give you peace of mind knowing that you have built resilience into your business, effectively streamlining risk management in an auditable way.

One Centralised Risk Management Platform

We build and distribute innovative software solutions that discover, manage and mitigate business risk.

Phinity Target Solution Flow FA

INSURANCE COMPLIANCE

INSURANCE COMPLIANCE SOLUTION

Assess, mitigate and manage risk and compliance processes throughout the insurance value chain, with a specific focus on outsourcing and distribution compliance.

Follow these 5 steps in the Phinity Insurance Compliance solution to achieve automation and compliance.

  • 1

    IDENTIFY

    Develop your policies and procedures aligned to your local and global compliance obligations. Identify the third parties (eg intermediaries, brokers, binder-holders), within the scope and determine the associated stakeholders.

  • 2

    DIGITISE

    Upload your third party information into the Phinity Platform. Develop assessments that will support the analysis of third party compliance with regulations and Service Level Agreements (SLA). Digitise your process including configuring assessments and workflows according to the defined processes.

  • 3

    ASSESS

    Develop assessments that categorise outsourcing and third parties. Complete due diligence and compliance assessments, and track business resilience.

  • 4

    REPORT

    Report according to key business metrics, including compliance levels, business continuity, achievement of SLAs, risk exposure and non-compliance remediation progress.

  • 5

    MANAGE

    Manage and mitigate material risks including those relating to outsourcing and third parties. Assign, track, treat and accept risk within risk tolerance levels.

CODE OF PRACTICE FOR THE GOVERNANCE OF STATE BODIES

IRISH CODE OF PRACTICE

The Phinity Code of Practice solutions shows how Phinity can link all risk stakeholders in the business, from “bottom-up” operational processes to “top-down” enterprise risks.

Linking these two often disparate risk approaches decreases duplication and unlocks value.

INFORMATION SECURITY MANAGEMENT SYSTEM

Information Security Management System SOLUTION

The Phinity cloud platform integrates into your organisation’s processes to workflow, automate and scale your ISMS. 

Follow these 5 steps in the Phinity ISMS  solution to achieve automation and process maturity.

  • 1

    PLAN

    Contextualise the oganisation, including ISMS scope and stakeholder mapping. Develop leadership and governance artefacts (including Policies, RASCI and Communication). Plan the assessment approach, the scope of inventory assets, and the the information security objectives with a plan to achieve them.

  • 2

    DIGITISE

    Integrate the platform into the process by uploading your information assets, configuring assessments and workflows according to the defined plan.

  • 3

    ASSESS

    Profile, assess and categorise all assests via a systematic, integrated solution that provides realtime data and analysis with recommendations on managing each asset according to risk, standards and policies.

  • 4

    REPORT

    Report against information security metrics, that align with the goals of your ISMS.

  • 5

    IMPROVE

    Assign, track, treat and demonstrate effective security mitigation and improvement actions according to your ISMS objectives.

PRIVACY COMPLIANCE

PRIVACY COMPLIANCE SOLUTION

The Phinity Privacy Compliance solution takes a structured approach in assisting you to define and bring automation to your Privacy programme.

With these five steps, Phinity takes you through to sustainable compliance and ensures that known risks and areas of non-compliance are tracked through to full remediation.

  • 1

    STEP 1: IDENTIFY

    Map your organisational structure, define your Privacy principles and approach, identify all stakeholders, and assign roles and responsibilities.

  • 2

    STEP 2: DIGITISE

    Digitise your Privacy programme by uploading your organisational structure, assessments, and unique business rules.

  • 3

    STEP 3: ASSESS

    Profile your business areas, and perform Privacy Impact Assessments to obtain real-time data and analysis with recommendations on Privacy risk mitigation and compliance according to risk, standards, and policies.

  • 4

    STEP 4: REPORT

    Report against Privacy principles by stakeholder group or by business area.

  • 5

    STEP 5: IMPROVE

    Assign, track, treat, and demonstrate effective compliance and improvement on risk mitigation, according to your Privacy principles

Know your Privacy Compliance status and make informed decisions

PROCUREMENT COMPLIANCE

PROCUREMENT COMPLIANCE SOLUTION

Achieve transparent and detailed compliance and risk management, and analysis with a centralised document repository accessible for key stakeholders at all levels.

Follow these 5 steps in the Phinity Risk Response Management solution to achieve automation and process maturity.

  • 1

    IDENTIFY

    Identify and collect all relevant data needed. Data may include compliance standards, regulatory requirements, risk and supplier policies, third party processes and required workflows, key stakeholders from AML, privacy, compliance, information technology, finance, etc.

  • 2

    DIGITISE

    Design your register, upload available data, imbed onboarding processes with automated assessments using Phinity’s predefined or custom assessments to measure your suppliers’ level of compliance and risk.

  • 3

    ASSESS

    Perform inherent risk profiling of all suppliers to calculate every supplier’s risk and workflow based on supplier type, service and risk rating. Based on responses, calculate residual risk and compliance levels to ensure an acceptable level before onboarding. Automate workflows, follow-ups, and tracking to streamline the risk assessment process.

  • 4

    REPORT

    Track the progress of all your assessments in real-time. Confirm compliance processes are being followed. Track each level of compliance per supplier, calculate risk and customise the reporting to meet your needs.

  • 5

    REMEDIATE

    Achieve transparent and detailed compliance and risk management, and analysis with a centralised document repository accessible for key stakeholders at all levels. Management and staff can collect, analyse, and transform data to create rock-solid audit trails.

RISK RESPONSE MANAGEMENT

RISK RESPONSE MANAGEMENT SOLUTION

Automate the risk management process, ensuring that risks and associated responses are well documented, accountability is clearly defined and progress to implement agreed treatment actions is tracked.

Follow these 5 steps in the Phinity Risk Response Management solution to achieve automation and process maturity.

  • 1

    IDENTIFY

    Formally document business risks or threats with a recommended treatment action to mitigate to an acceptable level of residual risk. Identify the key stakeholders to take accountability for determining the risk response and implementation thereof.

  • 2

    AGREE

    Agree the appropriate risk response based on the business’ risk appetite. This may include risk acceptance, avoidance, transfer, or mitigation. Based on the selected response, agree on the treatment actions to be implemented.

  • 3

    TRACK

    Track the progress of the treatment actions from assignment through to closure.

  • 4

    VALIDATE

    Validate and manage the status and quality of treatment actions implemented, based on feedback from stakeholders and associated evidence that is uploaded into the solution.

  • 5

    REPORT

    Easily report on the status of risks response activity on a single platform. The solution will provide automated reports per stakeholder / business unit / assurance report.

THIRD PARTY RISK MANAGEMENT (TPRM)

TPRM SOLUTION

You can easily identify high-risk third-party vendors and implement risk mitigation plans in real time, leaving your organisation's resources to concentrate on other tasks.

There are five steps to follow when automating your TPRM process.

  • 1

    IDENTIFY

    Before leveraging automation to mature your TPRM process, identify and collect all relevant data needed, including policies, relevant third parties, stakeholders, existing risk assessment, etc.

  • 2

    DIGITISE

    Upload your data onto the Phinity platform. Leverage Phinity’s pre-defined questionnaires and risk scoring or embed your current questionnaires and process.

  • 3

    ASSESS

    Perform inherent risk profiling of your selected third parties. Automate workflows, follow-ups, and tracking to streamline the risk assessment process.

  • 4

    REPORT

    Track the progress of all your assessment in real-time. View the inherent and residual risk ratings of your third parties or extract detailed reports on individual third parties as needed. Customise the reporting to meet your needs.

  • 5

    RESPOND

    Assign and track the risk items identified during your third party risk assessment through to remediation. Report on the progress of your remediation efforts.

VULNERABILITY REMEDIATION

VULNERABILITY REMEDIATION SOLUTION

Automate the allocation, tracking and reporting of vulnerabilities from all sources so that your team can focus on closing vulnerabilities rather than on administering the process.

Follow these 5 steps in the Phinity Vulnerability Management solution to achieve automation and protect against risk.

  • 1

    IDENTIFY

    Contextualise the oganisation, including ISMS scope and stakeholder mapping. Develop leadership and governance artefacts (including Policies, RASCI and Communication). Plan the assessment approach, the scope of inventory assets, and the the information security objectives with a plan to achieve them.

  • 2

    ALLOCATE

    Integrate the platform into the process by uploading your information assets, configuring assessments and workflows according to the defined plan.

  • 3

    TRACK

    Profile, assess and categorise all assests via a systematic, integrated solution that provides realtime data and analysis with recommendations on managing each asset according to risk, standards and policies.

  • 4

    VALIDATE

    Report against information security metrics, that align with the goals of your ISMS.

  • 5

    REPORT

    Assign, track, treat and demonstrate effective security mitigation and improvement actions according to your ISMS objectives.

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- WHY CHOOSE PHINITY -

Benefits

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Lower
your Risk

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Consolidate data
quickly and easily

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Boost your
productivity

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Track
every step

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Reduce
labour costs

- ACCOLADES AND AWARDS -

Why Trust Phinity

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Customer
Renewal
Rate

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WINNER OF
ISACA INNOVATION AWARD

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60 REGULAR
FEATURE UPDATES
AND IMPROVEMENTS

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5 STARS
CAPTERRA
RATING

- HAPPY CLIENTS -

Testimonials and
Success Stories

Growthpoint leverages the Phinity TPRM Solution to assess IT Vendors

Driven by the CIO, Growthpoint decided to implement TPRM as a new part of the companies Risk Management Strategy.

Santam leverages the Phinity TPRM Solution for Broker Compliance

Broker compliance requires each insurer to assess all brokers through an ongoing detailed assessment process. Santam needed to calculate the compliance risks, track treatments, and provide a level of assurance to the industry body. 

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- RESOURCES -

Read Our Articles

How To Tie Together and Boost Your Third Party Risk Management (TPRM) Processes

by Patrick Ryan, Managing Director and Lee Bristow, Chief Technology Officer of Phinity Risk ...

Automate and Accelerate Insurer Compliance with Integrated Technology

With Lee Bristow, Chief Technology Officer for Phinity Risk Solutions There are significant oversight ...

Know and Manage your Application Security Risk During COVID-19

With Amanda Hechter and Raymond du Plessis from Mobius Consulting as well and Lee ...

Know and Manage your Supplier Security Risk During COVID-19

With Lee Bristow from Phinity Risk Solutions and Malcolm Parker, Senior Managing Consultant at Mobius ...

Introducing Lee Bristow: Chief Technology Officer at Phinity Risk Solutions

Lee Bristow comes from a computer engineering background, with several years of experience in ...

PHINITY RISK MANAGEMENT & MOBIUS CONSULTING ON COVID-19

The Covid-19 (Corona Virus) pandemic is highly topical at the moment and we at ...

The Importance of Cybersecurity and Third Party Risk Management for Your Business

Ensuring that your business is not only up-to-date when it comes to its technology ...

Third Party Risk Management Conference

Phinity Risk Solutions, in partnership with Mobius, will be speaking at the first Third ...

Who Cares About Third Party Risk Management?

Your board of directors, the group risk officer, and those responsible for information privacy ...

Is risk ownership aligned to the board of directors?

Providing risk management with a dedicated home at board level allows for the clearer ...

Application Attack Surface

When assessing application risk, many organisations focus on the obvious: the software that they ...

What is DevSecOps?

What is DevSecOps? The term “DevSecOps” places information security into the original operating model ...

Third Party Risk Management Software for the Financial Sector

Regulators the world over are now holding financial institutions responsible for the actions of ...

Third Party Risk Management Silver Lining is Industry Self-Regulation

In today’s business environment it’s impossible to find a company that doesn’t contract with ...

THIRD PARTY RISK MANAGEMENT A KEY GLOBAL PRIVACY COMPLIANCE REQUIREMENT

Background to current privacy challenges Organisations that collect and process personal information are faced ...

ISACA Max Blecher Innovation Award Winner: Triplicity

Congratulations to Patrick Ryan, the Managing Director of Mobius Services (Pty) Ltd & Phinity ...

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