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Update third-party-due-diligence.md #516

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16 changes: 12 additions & 4 deletions content/tracks/Misc/third-party-due-diligence.md
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Expand Up @@ -32,10 +32,18 @@ If the third party is critical outsourcing partner, would the standard evaluatio

## Outcomes

Hard to tell, this session will be a good start on shaping the future of this activity.
So to wrap up from the session; we found at least three companies who already do the service but as a commercial offering.
These are;
OneTrust Vendorpedia - https://www.vendorpedia.org/
RiskLedger - https://app.riskledger.com [requries login details which I don't have]
IHS Markit KY3P - https://ihsmarkit.com/products/ky3p.html

Next steps: I am not sure how to move this forward
Ideally we would ;
either find a government body to sponsor this but this seems like killing businesses which provide third party risk solutions
Or, reach out to financial sector big players (big banks) to form a consortium like the one for threat intelligence (FS-ISAC)
Or, get one of the commercial ones to turn it into an open source model

## Who
If you are interested in getting invovled in this activity, please message me (Didar Gelici) on Slack or any social media messaging.

In last ten years, every job I had included third party assurance work and I kept sending similar questionnaires to same vendors over and over. This needs to be improved and in this era of open sourcing everything, I believe we can do better if we came up with a shared model for third party due diligence.

## References