Blogpost

Third Party Risk Management

Trust Network Pilot Project 2024

Introduction To The Trust Network Pilot Project

This past fall, Shared Assessments launched our Trust Network pilot project with our partner Whistic. Together with Whistic, we gave our members and subscribers a year of free access to the Whistic Trust Catalog.

Our members and subscribers gained access to thousands of organizational profiles featuring relevant Standardized Information Gathering (SIG) Questionnaire information within the Whistic Network.

And…the reviews were overwhelmingly positive! Many organizations were able to jumpstart their risk review processes without needing to request questionnaires from their vendors.

 

What’s New To The Trust Network Pilot Project?

Now, we have an exciting second phase of the Trust Network project to announce. In addition to being able to access the Whistic Trust Catalog, our members and subscribers can create a Whistic Basic Profile to showcase their own security posture. With a Whistic Profile, you can:

  • Manage and share security documentation (including the SIG)
  • Eliminate security bottlenecks
  • Shorten the sales cycle to close deals faster

Sharing. Streamlining. Accelerating. What’s not to like?

(Shared Assessments members and subscribers: access the Whistic Trust Catalog and create your Whistic Basic Profile via the Shared Assessments Portal. Not a member or subscriber, but interested in this offer? Reach out to us here.)

 

Background On The Trust Network

The Trust Network pilot project was conceived to connect the Shared Assessments’ third-party risk management member and subscriber community to the efficiencies of the Whistic platform – we are very excited to expand the project offerings.

Whistic’s platform makes it fast, secure, and easy for buyers and sellers to connect and automate risk assessments. Shared Assessments has built a membership ecosystem of cross-industry buyers (outsourcers) and sellers (vendors) who collaborate to develop and drive standards in risk management and the vendor assessment process.

By partnering on this project, our organizations are striving to combine our two networks to strengthen trust in the industry.

Requested by many Shared Assessments’ members, we are working to create greater transparency around the thousands of companies that accept and use our Standardized Information Gathering (SIG) Questionnaire.

 

On Partnering With Shared Assessments

By enabling the secure exchange of SIG information together, Whistic and Shared Assessments have taken another step toward streamlining the third-party risk assessment process.

“This partnership aligns perfectly with our strategic vision — to bring buyers and sellers together to enable the secure exchange of on-demand security and compliance information, while streamlining both sides of the third-party risk assessment process. The SIG is integral to that vision. We’re excited to give TPRM teams the tools, automation, and data to achieve their program objectives more effectively,” shares Whistic’s CEO Nick Sorensen.

Shared Assessments is proud to partner with Whistic for the benefit of TPRM practitioners and programs in our community. “This pilot project connects the expansive and growing networks of SIG users and strengthens relationships between service providers and their customers. This new partnership advances the longstanding Shared Assessments’ vision of creating a more secure and resilient world through collaboration and information sharing across the industry,” says Shared Assessments’ CEO Andrew Moyad.

 

About Whistic

Founded in 2015 and located in the heart of Utah’s Silicon Slopes, Whistic is passionate about transforming third-party risk management and customer trust programs to empower the world to put security first. Whistic’s Third-Party Risk Management platform saves time, drives efficiency, and shortens the procurement process and sales cycles.

Whistic has been a content licensee partner with Shared Assessments since 2017, integrating the Standardized Information Gathering Questionnaire (SIG) within their platform. Many companies within the Whistic network accelerate the vendor assessment process by storing and accessing SIG Questionnaire responses in the Whistic Trust Catalog.

 

About Shared Assessments

Shared Assessments was founded by large banks, service providers, and major accounting firms in 2005 to create standards and efficiencies in third-party risk assessments. Today, our members and risk professionals span all major industry verticals, including energy, financial services, government, healthcare, information technology, manufacturing, and retail.

In a rapidly evolving regulatory and risk environment, Shared Assessments’ products (including the SIG) incorporate industry standards and the collective intelligence of our diverse member base to keep third-party risk management programs current.