Protecht has acquired VISO TRUST, a US-based third-party risk management platform that uses artificial intelligence, in a deal the company says supports its global expansion strategy.
Protecht said VISO TRUST’s “agentic AI” capabilities will be integrated into its governance, risk and compliance platform, with a focus on third-party and fourth-party risk across vendor networks.
The company pointed to market forecasts and survey data to argue that enterprise organisations are increasing reliance on external suppliers faster than they can manage associated risk, including cyber threats originating through partners. Protecht cited research projecting the risk management market will grow at an 11.5% compound annual growth rate to US$41.7 billion by 2034, and a KPMG report indicating that while 83% of organisations plan to grow third-party networks over three years, 18% have fully integrated vendor risk management into enterprise frameworks.
Jason Phillips, CEO of Protecht, said: “The challenge isn’t just the growth in third-party risk, it’s that most organisations are still trying to manage it with…
