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TruSight
Validated third-party risk data
- 21-100 employees
- B2B
- Enterprise
- Big data
- Legal
- Financial Services
- Cyber Security
- Midtown South, New York, NY
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Company mission
To facilitate efficient and cost-effective collection of accurate third-party risk data.
Our take
The financial services industry is being rocked by a wave of innovative third-party fintech companies offering agile, modern new ways of winning a competitive edge in the increasingly competitive banking sector. With cyber security threats on the rise, however, and privacy regulations tightening, vetting these partners is a must - but it’s a time-consuming one, that historically involved labor-intensive, non-standardized assessments. TruSight was founded to solve this.
The company, not to be confused with M&A facilitators Trusight LLC, was founded by a consortium of leading financial services giants including JP Morgan Chase, American Express, and Bank of America, and Wells Fargo. It offers a standardized, privacy-intensive vetting service for third-party suppliers and partners across the financial services industry.
It’s a niche that’s already being filled by a number of smaller startups like Trulioo, who have netted more modern crypto clients like Metal Pay and Binance. TruSight’s clear edge, however, is its market reach over major and traditional institutional banking players thanks to its founding consortium. With these players under growing pressure to partner up, and vet tightly, TruSight has landed in a comfortable leading position in a rapidly growing market.
Steph
Company Specialist at Welcome to the Jungle
Company values
- Them solve the tough challenge of managing risk. Our clients are not just our customers – they are our partners in creating a new set of standards that will help the whole industry mitigate risk
- Best-In-Class - We enable the financial services industry to more effectively and efficiently manage risk because we are leveraging the collective wisdom of the industry to guide our processes and practices
- Trustworthy - The world’s leading financial services institutions and their suppliers depend on us, because they recognize that we are governed by our values of fairness, transparency, honesty and collaboration
Leadership
John Shay
(Executive Chairman, not founder)Previously spent over two decades as EVP of Sales Marketing at ICAP. Also served as SVP and Global Head of FICC at Nasdaq, and Senior Advisor to the CEO of Virtu Financial. Additionally founded IDCG, and served as Managing Partner at Capital Market Services.