Financial markets data and analytics provider Refinitiv today announces an expansion of the scope of its data-driven due diligence reports via the addition of cybersecurity and company credit risk ratings from BitSight and Creditsafe. The partnerships follow Refinitiv’s recent inclusion of ESG data and its acquisition of The Red Flag Group.

The addition of cybersecurity and credit risk ratings is in response to a raft of legal and regulatory obligations organizations face when dealing with third parties. Suppliers, distributors, resellers and other third parties may pose significant integrity and compliance risks and these need to be managed by every company to avoid significant fines and reputational damage.

In response to these challenges, Refinitiv has developed its innovative data-driven approach to due diligence, providing customers with detailed insights and proprietary ratings on their suppliers and third parties to help ensure they are positively contributing to the organization’s reputation and business operations.

Compiled by an experienced team of 450 analysts, the due diligence reports offer customers objective risk ratings according to six main categories of risk; identity, integrity, finance, ESG, cyber, and operational and quality risks. The reports are suitable for any sector or business size, and for any location in the world.

With the addition of cybersecurity and credit ratings, Refinitiv’s due diligence reports now draw on more than 200 billion cyber events monitored daily through 120 data sources, and more than 330 million company credit reports on both private and public companies collected from 9,000 sources.

Charles Minutella, Head of Refinitiv’s Due Diligence business, commented:

“Understanding your suppliers and third parties requires a detailed view of what they do for you, how they do it, and what risks that poses. Refinitiv has made significant investments in its own capabilities and technology to provide customers with a more sophisticated and data-driven view into the problems they might face. Our partnership with specialized data providers such as BitSight and Creditsafe further extends this capability, helping our customers to gain a more comprehensive view of their risk exposure.”