Sigma Computing Meets Rigorous Third-party Risk Management Requirements of Financial Institutions
SAN FRANCISCO - April 13, 2021- Sigma Computing, an innovator in cloud analytics and business intelligence, today announced that TruSight has performed a comprehensive risk assessment of the company’s platform and made it available to financial institutions considering Sigma. The completed assessment provides high-quality, fully validated data on the Sigma platform based on a standardized, industry-backed control assessment methodology. Sigma’s decision to undergo the assessment demonstrates the company’s commitment to meeting data security industry control standards and providing transparency into its control environment, ensuring that customers can be confident when selecting Sigma. “Sigma is the only cloud-native analytics and BI solution that enables anyone to explore live data at scale, down to the most granular level, in a spreadsheet-like environment, making it ideal for financial institutions,” said Sigma Computing CEO Mike Palmer. “We have been committed to upholding the most stringent security standards since day one and we are always looking for ways to make the procurement process easier for our customers. The TruSight assessment confirms that financial institutions can rest assured that they will be able to start using the platform securely and without delay.”
The TruSight assessment methodology includes 27 diversified control domains that were designed to meet the industry’s needs across the information and cybersecurity, privacy, business resiliency, and other operational risk domains, eliminating the need for duplicative assessments. TruSight conducted a rigorous onsite assessment of Sigma’s cloud-native analytics and business intelligence application to validate the design and implementation of controls according to the methodology’s requirements. The comprehensive validation procedures included structured inquiries, policy and procedure inspection, evidence-based validation, and onsite dynamic control observations and validation.
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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