Mastercard, Openly teamup to deliver continuous privacy risk monitoring

Mastercard company RiskRecon and Adelaide-based privacy-tech startup Openly have launched ‘Openly Vendor Monitor’, a new web platform that will bring transparency between buyers and suppliers through continuous privacy risk monitoring.

An Australian-first partnership, RiskRecon and Openly said the team-up will provide organisations with a complete view of their supply chain privacy and cyber risk posture.

Openly co-founder Jay Gilden said the announcement, which comes at the start of Privacy Awareness Week, highlights Australia as a potential leader in global privacy innovation.

“As we see progress toward significant privacy law reform in Australia, senior business leaders are placing more weight upon the importance of privacy for long term business health… this is driving up the appetite for investment in innovation,” Gilden said.

He said the uptake of Openly Vendor Monitor across global markets served as the catalyst for the partnership with Mastercard.

“When we launched Openly Vendor Monitor in mid-April, we saw more than 200 businesses join in 72 hours. We planned to launch softly into the Australian market, and suddenly we had customers in 37 countries,” he revealed.

Openly Vendor Monitor bolsters visibility in supplier relationships through continuous privacy risk monitoring. The platform watches and updates over 19,000 vendor profiles daily, including changes to key business information, privacy documentation, terms of service agreements and public records.

The Australian startup has also integrated RiskRecon cyber risk data into its platform, in line with Mastercard’s Global Cybersecurity Alliance Program.

Through the addition, Openly Vendor Monitor customers can access RiskRecon cyber risk ratings for every vendor in the platform based on continuously updated data.

RiskRecon founder Kelly White said that the addition of RiskRecon’s cyber risk ratings into Openly Vendor Monitor provides an added layer of critical information for buyers when assessing and managing supply chain risk.

“By combining Openly’s innovative approach to continuous privacy risk monitoring with RiskRecon’s cyber risk ratings, organisations now have access to enhanced visibility of their risk profile across their supplier relationships,” White said.

“We are excited about partnering with Openly to simplify an increasingly complex supply chain risk landscape,” she concluded.

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