LockPath, a provider of governance, risk management and compliance solutions, and SecurityScorecard, a security-rating platform, announced a new partnership to streamline and strengthen how organizations manage vendor and third-party risk.

The companies are launching a product integration between LockPath’s Keylight Platform and SecurityScorecard’s security rating platform, enhancing the customer’s ability to assess, identify, and remediate third-party risk.

Heightened regulatory scrutiny has created the need for next-generation solutions to help organizations better manage the risk posed by their business partners. With integrations between technology platforms such as LockPath and SecurityScorecard, organizations now have the advanced tools needed in order to fill those gaps.

SecurityScorecard provides continuous, non-intrusive monitoring of third-parties and helps organizations address the increasing risk of data breaches, a risk that has grown exponentially year over year. The company takes a unique and highly effective approach to security, identifying vulnerabilities from an outside perspective, the same way a hacker would. Having developed the industry’s most accurate rating of security risk, SecurityScorecard helps organizations gain operational command of their security posture and that of their partners and vendors.

LockPath’s Keylight Platform integrates the full vendor lifecycle into daily processes and includes capabilities for information gathering, due diligence investigation, risk assessments, contract negotiation, ongoing monitoring and termination workflows. By centralizing all this information in one user-friendly solution and providing advanced reporting capabilities, Keylight allows organizations to better manage vendor risk and to reduce the risk of non-compliance.