Page 22 - Risk Management Bulletin Jan- Mar 2021

RMAI BULLETIN JANUARY TO MARCH 2021

news

Update

TCS introduces SaaS-based platform and IT operations teams quickly and efficiently mitigate
known risks, and orchestrate vulnerability remediation".
to secure enterprises from cyber risks
Tata Consultancy Services Ltd has recently launched a Inflation is now the top risk to
software-as-a-service (SaaS)-based automated
vulnerability remediation platform with an objective to markets, not COVID: BofA survey
protect enterprises from malicious attacks by According to the latest survey of global fund managers
identifying and prioritising vulnerabilities in their by BofA Securities, for the first time since February
software libraries and proactively fixing them. 2020, COVID-19 is no longer the biggest tail risk for the
TCS remarked in a statement, "The automated markets. Higher-than-expected inflation is now the top
vulnerability remediation platform helps enterprises most concern, majority of the respondents said. The
build and execute a contextual, risk focused and BofA Securities survey polled 220 investors with $630
effective vulnerability management program, helping billion in assets under management between 5 March
them decide on the right remediation approach across and 11 March, 2021.
assets, common vulnerabilities and patching. The The survey report also showed that a net 93% of fund
platform also helps enterprises set vulnerability managers expect higher inflation in the next 12
tolerance levels." months, up 7% from the prior month's survey, and an
The platform offers role-based access to C-suite and all-time high. However, some market experts feel that
board-level executives, who can directly leverage the real- concerns about inflation making a massive comeback
time insights to review and fine tune their risk strategies. are overdone, at least for now.
"The SaaS-based delivery model offers enterprises a Jeroen Blokland, Portfolio Manager, Robeco, said in his
quick start to a robust and scalable remediation latest blog, "I think it's too early to be worried about
program with minimal upfront capex investment. It is inflation, though. First, in many areas such as the
built on a plug-and-play API driven architecture with Eurozone and Japan, inflation remains far from central
out-of-the-box integration capabilities with leading bank targets. Overshooting risks are low. In the US,
asset inventory systems (both on-premise and cloud), inflation risks are higher, but not enough yet to derail
commercial and open source security controls, patch equity markets. For bonds, however, things look less
management tools, and ticketing systems," TCS added. favorable, with yields likely to rise further in the
coming months. Hence, stay short duration."
According to Santha Subramoni, Global Head, Cyber
Security, TCS, "Customers embarking on a legacy Concurring, Scott Minerd, Global Chief Investment
modernization and cloud migration journey need to Officer, Guggenheim stated, "Market participants have
remediate pre-existing vulnerabilities and put in place been focused on the prospects for a sharp rise in U.S.
processes and controls to mitigate new ones. TCS' SaaS- inflation amid massive fiscal and monetary easing and
based automated vulnerability remediation platform a COVID-19 vaccination program that continues to
provides risk-based remediation analytics to help security gather pace. Our view is that inflation will generally

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