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Cyber Risk Quantification Services

Looking to transform your cyber risk model? Microminder’s cyber risk quantification methods will offer the calculated insights you need.

What is Cyber Risk Quantification Services?

Businesses in this era face an ever-expanding cyber threat landscape they can barely keep up with. From ransomware to new malware variants, DDoS attacks, APTs to zero-day exploits, etc., CISOs, IT professionals and SRM leaders have to contend with more threats now than they’ve ever experienced. Thus, there’s a saturation of cyber risks that continuously test a company’s security posture and resilience, and with this saturation, the question of where to focus one’s cybersecurity efforts arises.

While businesses can prioritise risks based on their severity and tackle them based on this severity rating, if more than two risks have the same rating, there’ll be confusion on which risk to tackle first. This limitation is what Microminder’s Cyber Risk Quantification aims to fix. Because of the critical influence of cybersecurity on a business’s growth, reputation, functionality and revenue, it would make more sense to prioritise risks based on their financial impacts and likelihood of occurrence.

In essence, if your company were told it had an impending cyber risk with a 70% chance of occurrence that could cost it 2 million GBP in losses, you would initiate a DEFCON 1 approach in addressing this risk. This is what Microminder’s cyber risk quantification offers, calculated insights into the financial impact of cyber risks to facilitate informed and timely decisions that keep your business afloat and thriving.

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What is Microminder’s CRQ offering?

CRQ stands for Cyber Risk Quantification. It is the series of processes and techniques dedicated to evaluating the risk exposure and occurrence likelihood of identified cyber risks. These risks are evaluated in monetary terms, as they affect the enterprise’s measures of financial success.

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How Microminder’s Cyber Risk Quantification Model Works

Microminder’s CRQ solution uses an automated approach to cyber risk calculations. Our solution unifies all cybersecurity data into a comprehensive CRQ model. We do this by collating data from our cyber threat intelligence (CTI) systems, vulnerability tools, penetration test reports, etc., into a unified cyber risk model, which can be analysed and converted to monetary units and likelihood percentages.

Microminder uses a five-pronged risk calculation approach that operates on the FAIR model of cyber risk quantification to calculate the monetary value of risks. This model analyses cyber risk exposure as a currency value. In this five-pronged approach, the first four factors include vulnerability severity, threat level, security controls and asset security. They are used to calculate the occurrence likelihood of the risk. The last of the five factors is known as business criticality. It incorporates cost factors like notification costs, escalation and detection costs, post-attack response costs, and lost business costs. This business criticality is used to calculate the monetary value of the risk’s impact.

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Why You Need Microminder’s CRQ Model

Microminder’s cyber risk quantification solution helps IT specialists prioritise the remediation of risks based on their impact. It also offers insights to stakeholders with which they can influence their security posture by justifying security investments, improving understanding and making better holistic cybersecurity decisions, which can only be beneficial to the credibility, reputation, finances and continuity of the enterprise.

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Microminder’s cyber risk quantification model is a necessity for businesses today for the following reasons:

Including Microminder’s CRQ solution in your cybersecurity arsenal makes your company stand a chance in the war against cyber attacks. Cyber threats are only increasing in aggressiveness and complexity, and as predicted by CISCO, DDoS attacks will affect 15.4 million businesses by 2023. Thus, there’s no better time to upgrade how your company assesses, measures and responds to risks than now.

The attack surface area of businesses only extends with every adoption of AI, IoT, cloud computing or other technologies, which have their inherent risks. Thus, there have never been more entry points for threat actors than now. This is why you need a risk quantification model like Microminder’s to help prioritise these risks based on their detriments and likelihood.

CRM tools often communicated risks qualitatively, which did little to convey their impact to stakeholders and executives within the company, leading to uninformed decisions. Quantitative data in the form of percentages and monetary risks offers more perspective on the severity of the cyber risk. It minimises uncertainty and confusion and demystifies cybersecurity for the executives. Thus, leading to better resource and budget allocation to cyber risk management strategies.

Microminder’s cyber risk quantification tools help IT and risk management specialists gauge the efficacy of their risk aversion and control strategies, as it reveals the extent of risk reduction achieved. Risk managers can redirect the board’s interest to better strategies with this feedback or maintain the same strategy.

Microminder’s cyber risk quantification solution helps organisations strengthen their cyber resilience, maturity and security posture. It guarantees more targeted and cost-efficient responses to cyber risks. It helps them transform their risk mitigation efforts from reactive to proactive, thus enhancing productivity across all aspects of the company.

Microminder: Alfanar's Top Choice for Penetration Testing Services

"After engaging and experiencing multiple Penetration Testing vendors, we highly recommend Mincominder services to companies looking to enhance their security measures. Their expertise and commitment to delivering outstanding results make them a reliable choice for securing your organisation."

Syed Murtuza Haneef

IT Security Manager

Moby2

"We had the pleasure of working with Microminder Cybersecurity for infrastructure pen testing and firewall configuration review, and I have to say, their work was nothing short of splendid. Firstly their onboarding process was so quick, the pre-requisites and availability of testing was agreed on the same day..."

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Viktor Dimitrov

Product Owner - Moby2

Amsel and Wilkins

"Microminder's in depth and broad scope pen testing truly provided us with some valuable insights that uncovered key business risks and highlighted necessary actionable intelligent changes that needed to be implemented within our business to combat any potential cyber-attacks from adversaries and prevent any breaches. This exercise helped us to enhance our cyber security posture and test our system’s resilience. We are quite pleased with our engagement with Microminder."

Claire Lee

Practice Manager - Amsel and Wilkins LLP

InfinityBlu Dental

"Microminder's 24/7 managed security services got deployed with such ease and immediately gave us an eagle eye view into our security logs and events, highlighting any indicators of compromise, effectively automated our response and correlated the incidents with full context, thereby triaging and eliminating all false positives. Our team are amazed at the speed and accuracy of Microminder’s Open XDR technology and skilled staff."

Julie Cockbill

Head of Operations - InfinityBlu Dental

Dental Beauty

"Our priority is business continuity and security, especially considering our operations across our 30+ practices. Microminder helped us with a tailored managed security services that aligned with our business needs. Their technology is at the forefront of the industry and that allows us to fully put our trust in their cyber security experts. We are glad to have Microminder as an extension of our technology team!"

Tina Patel

Head of Integrations – Dental Beauty Partners