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Press Release

TruSight Launches New Technology Solutions to Optimize Customer Experience

New York, NY—September 7, 2021— TruSight, the financial industry’s leading provider of third-party risk data, today announced that it has completed its enhanced customer consumption project, including the creation of a new assessment execution platform, customer API integration and custom template functionality.

TruSight’s new platform is purpose-built to enable the company to conduct assessments and interface with third parties and customers efficiently and effectively. The platform structures assessment data in a way that supports maximum flexibility in meeting customer needs while driving operational efficiency. Launched in April, the TruSight platform is a radically new data model that serves as the foundation for the implementation of its API interface and customized product templates.

The TruSight API, introduced in May, allows customers to connect programmatically to TruSight and retrieve assessment data in a highly structured way. The company is now working with GRC system providers to bring additional connectivity capabilities to the platform.

The final component of TruSight’s enhanced customer consumption solution is the Custom Product functionality, released in June. This capability enables users to create their own customized products by selecting the specific questions they want to review and pay only for what they consume. Functionality is enabled through TruSight curated tag collections as well as customer-defined tags on questions, which can be used once or applied to all products purchased.

“TruSight has built a truly customer-focused platform that gives banks greater access to and control over the valuable third-party risk data that the utility collects,” said Taryn Thompson, Chief Procurement Officer of Bank of America. “As a TruSight board member and a client, we have seen first-hand that the added functionality and connectivity capabilities will deliver significant efficiency gains to financial institutions’ TPRM programs.”

“The work done by the TruSight team to develop the new platform has been phenomenal. The underlying technology paves the way for TruSight to create innovative new data products and functionality not seen in the third-party risk management space before,” said David Hayman, Vice President of Technology at TruSight. “We are excited to work with our customers and third parties to leverage these new capabilities to bring even greater efficiencies to the industry.”

About TruSight

TruSight is the industry’s leading third-party risk management (TPRM) utility platform, facilitating efficient, cost-effective collection and consumption of accurate risk data. Developed and backed by five of the largest global financial institutions, including American Express, Bank of America, JPMorgan Chase and Wells Fargo, the TruSight methodology standardizes the risk assessment process to deliver the highest quality data, enabling financial institutions to gain greater visibility into supply chain resilience.

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For more information, contact:
Laura Nelson or Sage Morander
SVM Public Relations

svgImg Coronavirus Statement

Coronavirus Statement

Our highest priority at TruSight Solutions is to maintain health and safety, and we are closely monitoring the global situation regarding the spread of coronavirus (COVID-19.) At the same time, we remain steadfast in our commitment to deliver assessment products of the highest quality for our customers and assessed parties. In light of these dual goals, this statement addresses precautions and strategies that TruSight is implementing with respect to on-site assessments and the assessors who conduct these facility visits.

Assessors who have been assigned to conduct on-site assessments have attested that they have not traveled in the past 30 days to a country with a Level 2 or Level 3 designation from the U.S. Centers for Disease Control and Prevention. (A Level 2 alert is for enhanced precautions, and a Level 3 warning is to avoid non-essential travel.)

Upon request, each individual assigned assessor will confirm this assurance in writing via email.

Any assessor currently conducting an assessment in an affected country is bound by the country’s domestic regulations and will remain in that country as long as required.

Assessors have been instructed to escalate any personal travel concerns to their manager. Individual concerns will be respected and assignments adjusted accordingly.

For reasons of health and safety, there could be a delay in conducting an assessment and/or delivering a product where a country is prohibiting travel or otherwise inhibiting movement that is necessary for such assessment. In this event, we will inform impacted vendors and customers as soon as we become aware of the situation. We may also propose performing a remote assessment in lieu of an on-site assessment and making adjustments accordingly.

As the coronavirus situation quickly evolves, TruSight is closely following developments from the World Health Organization, U.S. Centers for Disease Control and Prevention, and other domestic and international bodies. If you have questions or concerns, please reach out directly to your TruSight contacts.

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