Risk & compliance
What is Fourth-party risk?
Fourth-party risk is the risk that comes from the suppliers of your suppliers: a failure or breach at a subcontractor of one of your vendors that affects your organisation.
A common example is a cloud or software provider that many of your vendors rely on. DORA asks financial entities to understand such subcontracting chains for ICT services that support critical functions.
How Clateway helps
- Vendor and third-party risk management – Third-party risk management: vendor registry, risk scoring, breach history, adverse media monitoring, fourth parties, contract lifecycle and renewal alerts.
- DORA compliance for financial entities – DORA compliance for financial entities: ICT risk management framework, register of information on ICT third parties, incident management and resilience testing evidence.