JPMORGAN CHASE & CO .
“ WE HAVE A REAL OPPORTUNITY THROUGH PROCUREMENT TO IMPACT OUR GLOBAL COMMUNITIES BY GENERATING REVENUE , CREATING JOBS AND DRIVING INCLUSIVE GROWTH ”
Additionally , the coronavirus pandemic highlighted new vulnerabilities that emerged from suppliers having to work remotely . “ The pandemic revealed new cybersecurity risks to the firm ”, Smith explains . “ We realised that many of our suppliers , when forced to send their employees home , weren ’ t ready to execute their resiliency plans . We saw suppliers being impacted by ransomware . And that reshaped the minimum control requirements we have around cybersecurity .”
To assist diverse suppliers in getting their businesses secure and cyber-ready for financial industry clients , JPMorgan Chase recently partnered with TruSight , a risk management utility co-founded by JPMorgan Chase , American Express , Bank of America , Bank of New York Mellon , and Wells Fargo . The firm is using this utility to provide Black- and Hispanic-owned companies with a detailed view of their cybersecurity status . TruSight reviews several best-practice areas across a company ’ s operations , collects observations about their control environment and generates a report or assessment of their level of security .
JPMorgan Chase ’ s TruSight partnership programme aims to eliminate a common barrier to opportunity with financial industry firms by making cyber-readiness more accessible for diverse suppliers . So far , TruSight has provided 25 diverse suppliers in JPMorgan Chase ’ s pilot programme with complimentary assessments . These assessments provide each diverse supplier with direct feedback on which cybersecurity controls they must increase to improve their industry positioning .