“ I can honestly say that Panorays played a crucial role in our GDPR readiness.
Yaron Weiss | VP Corporate Security & Global IT Operations
Business Relationship & Criticality
Third parties being tested for compliance must be segmented by their criticality and business relationship. Panorays makes it simple to do so with checking a few boxes, defining how critical the vendor is to the business and how the company interacts with it.
When identifying a new vendor, check the “PCI” box and the vendor will receive a security inquiry that will ask about each of the 12 PCI controls. Panorays will grade the vendor’s responses and identify any missing policies.
Financial services regulations like OCC 2013-29 and EBA prescribe a set of processes for checking your third party partners. Panorays helps by acting as your central repository of third parties.
The Security Inquiry includes a separate scale representing the third party’s readiness for GDPR. The scale ranges from no readiness to full compliance.
Essential Regulatory Documentation
Panorays offers an efficient framework for maintaining the documentation for process-oriented regulations like OCC and EBA. No more spreadsheets; everything is on the platform.
Continuous Compliance With Policies
Panorays continuously monitors third parties for new issues and reports specific findings that may cause a problem for compliance to regulations like GDPR, NYDFS and security standards like NIST, ISO 2700x and PCI DSS.