ICRA Analytics currently provides risk management tools, consulting services, and analytical solutions for financial institutions
ICRA Analytics Limited (ICRA Analytics), a subsidiary of ICRA Ltd, has partnered with Boston-based cyber risk management firm Bitsight, a Moody’s partner, to expand its offerings in the growing cybersecurity market. The collaboration aims to strengthen ICRA Analytics’ risk management solutions by incorporating Bitsight’s expertise in enterprise security and digital supply chain risk.
ICRA Analytics currently provides risk management tools, consulting services, and analytical solutions for financial institutions, helping them address exposure to various risks and safeguard asset values. With this partnership, the company will market Bitsight’s advanced cybersecurity solutions to clients across India.
Founded in 2011, Bitsight is renowned for its security ratings platform, widely adopted across industries like manufacturing, insurance, finance, energy, technology, and retail. Its data-driven insights enable organisations to monitor and manage cyber risks, make informed decisions, and enhance trust with stakeholders.
Jayanta Chatterjee, MD & CEO of ICRA Analytics, expressed optimism about the collaboration, stating, *“We are excited to announce our collaboration with Bitsight – a Moody’s partner and a leading cybersecurity ratings platform globally, which we believe will enable us to deliver next-generation cyber risk solutions across India. This further strengthens the bouquet of offerings under the risk management platform and will help ensure access to superior quality of cyber risk management framework to our clients. With this collaboration, we are looking forward to further fortifying our presence in the rapidly growing cybersecurity market in India.”*
Jason Rivard, who leads Global Channels at Bitsight, added, *“We are proud to partner with ICRA Analytics to bring Bitsight’s proven cyber risk management solutions to businesses across India. As cyber threats continue to evolve, organisations need actionable insights to protect their assets and build resilience. By combining ICRA Analytics’ deep expertise in risk management with Bitsight’s industry-leading capabilities for external attack surface management and third-party risk management, we aim to empower Indian enterprises to better identify, communicate, and prioritise cyber risks in today’s complex digital landscape.”*
This collaboration marks another milestone for ICRA Analytics, which has been expanding its risk management portfolio. Earlier this year, it introduced IRS 3.0, an upgraded version of its Internal Rating Solution, designed to help banks and non-banking financial companies (NBFCs) effectively assess and manage credit risk. Over the past two decades, its IRS software has been widely used for credit risk management.
Additionally, ICRA Analytics’ iECL solution automates the calculation of Expected Loss Provisioning, further supporting financial institutions in streamlining their operations. Its subsidiary, D2K Technologies India Private Limited, provides advanced software for regulatory compliance and process optimisation, such as EWS, e-NPA, and ADF solutions, enabling banks and NBFCs to enhance customer engagement and develop robust analytical platforms.
With the addition of Bitsight’s cybersecurity capabilities, ICRA Analytics is poised to provide Indian businesses with comprehensive tools to address the rising challenges of cyber threats in an increasingly digital world.
