PHOENIX, ARIZONA — APRIL 11, 2024 — At the Third Party Risk Association’s (TPRA) 2024 TPRM Conference, “Third Party Risk Madness” in Phoenix, Arizona, TPRA announced Exiger as the 2024 winner for their TPRM Service Provider Innovator Award.

TPRA had 24 total Service Provider nominations for this award, with 6 organizations chosen to be finalists in the award process. Despite the difficult selection process given the many outstanding service providers, the TPRA Board of Directors and select Practitioners chose Exiger as the overall winner.

One example of this is that Exiger can provide customers with specific risks as they relate to a piece of software via CVE and the software assessment itself, but also provide leading risk indictors of how the software was developed.

Not only does Exiger look at cyber risk, but also financial health, operational, regulatory, reputational, and criminal risk (which includes export controls). Because of their connection to the government, they map regulations to controls and artifacts, as well to determine regulatory compliance, via artificial intelligence (AI).

When asked how they maintain the regulatory compliance side with so many new and changing regulations, Exiger stated they are, “...looking at each rule via AI and assessing changes and updates to the policy, rulemaking, or legislation on a regular basis.” In addition, they meet with regulators to help define legislation to ensure they can validate specific controls.

The last piece that intrigued TPRA judges was their ability to perform root cause analysis of findings. Their AI model can articulate why risks exist through natural language prompts and provide the evidence it found to support the finding.

For all these reasons and more, TPRA selected Exiger as their 2024 TPRM Service Provider Innovator Award winner.

About Exiger

Exiger got their start in terms of large scale TPRM in this sector with the Defense Counter Intelligence Agency and within the last few years have now branched out into the commercial space (which now makes up the majority of their business).

Within the commercial sector, the majority of their clients are in healthcare, Information Communication Technology, and Advanced Manufacturing (or critical infrastructure). They are now seeing an increase in retail as well, post-COVID. Exiger is actively working to simplify the user experience by identifying risk no matter what domain it is in via not only open and privately procured sources, but also by correlating information obtained and within regulations via AI. Their mission is to provide a safer and more transparent space for customers to succeed.

For more information about Exiger and their innovative approaches to identifying and mitigating third party risk, visit www.exiger.com.

About the Award

One of the objectives of the Third Party Risk Association (TPRA) is to promote the value that Third Party Risk Management (TPRM) Service Providers add with regards to advancing the TPRM industry as a whole. In support of this objective, the TPRA created the TPRM Service Provider Innovator Award to recognize all the work TPRM Service Providers put into delivering innovative, efficient, and effective tools and techniques for Practitioners to leverage to assess, mitigate, and manage the risk of third parties.

After reviewing the initial applications, TPRA’s seven judges chose six organizations as finalists in the award process. The team of judges then met with these organizations individually to further discuss their application, where they see their organizations headed within the next five years, what they would change about the TPRM industry, and why social responsibility is important to them.

This award recognizes a TPRM Service Provider organization that: offers a product and/or service to the TPRM Practitioner community at large to assist with identifying, assessing, monitoring, and/or mitigating third party risk, actively advances the industry through pioneering and/or innovating TPRM solutions/services, regularly collaborates with Practitioners, Regulators, and/or other Service Providers in the creation, implementation, and/or delivery of their innovative products/services, and advocates for and exemplifies social responsibility and philanthropy. Any TPRM Service Provider organization may apply for this award, regardless of membership with the TPRA.

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The Third Party Risk Association was created out of a necessity to build a community of like-minded third party risk professionals to allow for the sharing of best practices,

exchanging of ideas, and influencing of an industry. This organization is a 501(c)(6) not- for-profit.