Case Study
How Hyperproof Helped a Global Financial Enterprise Revolutionize Third-Party Risk Management
This global payments company has approximately 75,000 employees, operates in more than 130 countries, and supports over 140 million customers worldwide. They are one of the world’s largest financial services companies, and they leverage Hyperproof’s third-party risk management tool to strengthen their vendor oversight program and align risk and compliance across the organization.
Product Used: Third-Party Risk Management
Customer type: Global financial enterprise
Industry: Financial services
Company size: 75,000 employees
150+
assessments streamlined
99%
reduction in time spent on manual processes
1,000+
hours saved with RiskAI
The Challenge
Manual, time-consuming assessments
This leading global financial enterprise faced significant bottlenecks in its third-party risk management process. Assessments were traditionally conducted through manual questionnaires that were time-consuming and resource-intensive. Completing a single assessment could take up to six weeks, slowing down decision-making and creating inefficiencies across teams. This resulted in limited visibility into the security posture of many vendors.
While the ability to run assessments in parallel was technically possible, managing these efforts required significant manual intervention. Teams had to dedicate countless hours to tracking, monitoring, and following up on assessments, a laborious and error-prone process that resulted in delays. The organization needed a solution to streamline operations and reduce manual work.
The Solution
Hours of time saved with RiskAI
RiskAI provided the automation, scalability, and intelligence to the assessment process that this customer needed, enabling them to eliminate the inefficiencies of manual questionnaires. Now, they leverage dynamic, AI-driven assessments, allowing the organization to automate workflows and reduce human intervention. RiskAI eliminated the need for teams to constantly monitor and manage assessments, significantly reducing manual effort and allowing staff to focus on higher-value activities, like identifying and addressing actual risks.
A unified, dynamic view of their vendor ecosystem
With Hyperproof’s vendor risk register, they gained a unified, dynamic view of vendor risks across their ecosystem. Risks are automatically identified, categorized, and prioritized by severity and likelihood, replacing fragmented spreadsheets with a single source of truth. This allows them to track remediation progress in real-time and communicate overall risk posture with confidence. Hyperproof’s user-friendly platform and automated workflows even encouraged greater adoption across teams, ensuring smoother collaboration and faster results.
Scalability for enterprise
Hyperproof’s intelligent dashboards provide visibility into all ongoing assessments, enabling this customer’s teams to efficiently manage hundreds of assessments without additional resources. The company launched 150 assessments in parallel using Hyperproof, a scale that was previously achievable only with significant manual effort. With RiskAI, these assessments were completed in under two weeks, which was a process that once took several months.
RiskAI has completely transformed our third-party risk management process. What used to take weeks or months now takes hours, and we’re able to handle parallel assessments with ease. Hyperproof has been a game-changer for us.
Anonymous Customer
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