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Monitor your business for data breaches and protect your customers' trust.
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Control third-party vendor risk and improve your cyber security posture.
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TRUST EXCHANGE

Streamline your trust management process with security questionnaire automation.

Release Notes

TOP FEATURES

VENDOR RISK ASSESSMENTS

Assess your vendors accurately

SECURITY QUESTIONNAIRES

Automate questionnaires in one platform

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Objective measure of your security posture

DATA LEAKS DETECTION

Proactively detect your exposed data

REPORTING & DASHBOARDS

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How UpGuard helps financial services companies secure customer data.

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Standardize vendor assessments

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BREACHSIGHT

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TRUST EXCHANGE

Security questionnaire management


PRODUCT FEATURES

VENDOR RISK ASSESSMENTS

Assess your vendors accurately


SECURITY QUESTIONNAIRES

Automate questionnaires in one platform


SECURITY RATINGS

Objective measure of your security posture


DATA LEAKS DETECTION

Proactively detect your exposed data


INTEGRATIONS

Integrate UpGuard with your existing tools


QUESTIONNAIRE AI

Autofill security questionnaires and enhance responses with AI


SERVICES

Expert analysts to bolster your team


SOLUTIONS

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How UpGuard helps financial services companies secure customer data


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Customers
Morningstar


MORNINGSTAR

Morningstar uses UpGuard to optimize its vendor security assessment process and
save time.
Read more


1300%
Increase in vendors assessed
<2 hrs
Time needed to complete a security review
75%
Time saved assessing vendors

Morningstar uses UpGuard to optimize its vendor security assessment process,
reduce security review times, increase the number of vendors monitored annually,
and track security posture performance.




ABOUT MORNINGSTAR

Morningstar is a global financial services firm based in Chicago specializing in
investment research. Morningstar offers numerous services and products,
including portfolio management, investment research, stock insights, and general
market data.

Amy Voegeli is the Director of Security at Morningstar, overseeing compliance,
third-party risk management, security project management, and privacy management
functions.


THE CHALLENGE

Before UpGuard, Morningstar faced many challenges in its third-party risk
management program, largely caused by a manual and unstructured process. With no
formal process in place, Morningstar lacked the necessary resources to maintain
a comprehensive security program, could not keep historical records of its
vendors, and had trouble tracking its security performance over time.

Part of each security review involved a manual ad hoc process to evaluate a
third party, including using Excel spreadsheets as security questionnaires. In
addition, every vendor's due diligence process was also different and
time-consuming. As a result, Morningstar was only able to assess 5 to 10 vendors
a year. This limitation impacted Morningstar’s ability to properly assess their
vendors, leaving them open to potential third-party risks.


THE SOLUTION

After securing an additional budget, the Morningstar team was able to dedicate
further resources to launch their TPRM program. Through UpGuard, Morningstar
restructured and standardized processes with the workflows, tools, and
capabilities offered in-platform, using both BreachSight and Vendor Risk.

> “The UpGuard platform is straightforward, easy to use, and gives you exactly
> what you need, unlike other platforms that are over-engineered.”

Morningstar uses UpGuard for third-party vendor management and risk assessments,
and the platform has allowed the firm to gain deeper insights into its vendors.
All of the findings are built into the questionnaire process, which has helped
streamline Morningstar’s vendor assessment workflow and drastically increase its
assessment volume. Ultimately, Morningstar now has the ability to accurately
tier their vendors and onboard them with greater efficiency.

Furthermore, Morningstar was able to easily access their vendors’ security
documentation and evidence through the UpGuard platform, allowing them to
optimize their review process. This feature makes it easier to view a vendor’s
security posture in one centralized location, rather than switch between various
tools to track assessments.


THE RESULTS

After onboarding UpGuard, Morningstar has increased its vendor assessments by
over 1300%, with an estimated 130 new vendors being reviewed annually. What used
to take a full day or more to assess a single third party has been reduced to
just 1-2 hours, once all the evidence and questionnaire responses have been
collected.

> “It takes no more than two hours to complete a review, compared to a full
> day’s of work before. In some cases, we could probably finish a review in
> about an hour.”

In addition, the Morningstar team is highly satisfied with the excellent
customer experience and support that UpGuard’s Customer Success team provides,
citing the high level of technical knowledge and expedited support on issues
that may arise. Because Amy and her team use the UpGuard platform daily, it’s
important for them to maximize usage of the platform’s extensive range of
features, and working closely with the CS team enables them to do so. 

> “UpGuard’s Customer Success Managers are far more knowledgeable about their
> tool than other vendors we’ve worked with. The entire team understands exactly
> how to utilize the tool to its fullest ability.”

Overall, Amy appreciates the UpGuard platform's flexibility and how seamlessly
it scales with Morningstar’s third-party risk management program, especially as
it continues to mature. The platform is intuitive and allows users to customize
their usage based on their company’s cyber maturity. With the high level of
support that Morningstar receives and the UpGuard platform’s comprehensive
features, they have transformed their TPRM program to make their security review
processes more efficient, assess over 10x the number of vendors, and manage
everything from the UpGuard platform from start to finish.




WE’RE EXPERTS IN SECURING DATA BREACHES AND DATA LEAKS

We’ve helped Facebook, Dow Jones, Verizon, Ford, the RNC, GoDaddy and many other
companies secure customer data. Don’t just take our word for it.
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MORE CUSTOMER STORIES

We’ve helped hundreds of global companies.

GLOBAL CLOUD SOFTWARE COMPANY

UpGuard helped this global cloud software company establish a comprehensive TPRM
program that continues to manage 1000s of vendors.
Read case study


ST JOHN WA

UpGuard helps St John WA maintain visibility and coverage over thousands of
vendors.
Read case study


BRIGHTCOVE

Brightcove optimized their vendor risk management program using UpGuard.
Read case study


IDEALS

iDeals uses UpGuard to improve its security posture and create a culture of
security awareness.
Read case study


GLOBAL REAL ESTATE GROUP

This global real estate group uses UpGuard to automate, improve, and streamline
their vendor assessment process.
Read case study


COLORADO STATE UNIVERSITY

UpGuard helps Colorado State University identify vulnerabilities and threats
across its attack surface and mitigate the risks associated with third-party
vendors and service providers.
Read case study

View all customer stories



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