Security Magazine logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Security Magazine logo
  • NEWS
    • Security Newswire
    • Technologies & Solutions
  • MANAGEMENT
    • Leadership Management
    • Enterprise Services
    • Security Education & Training
    • Logical Security
    • Security & Business Resilience
    • Profiles in Excellence
  • PHYSICAL
    • Access Management
    • Fire & Life Safety
    • Identity Management
    • Physical Security
    • Video Surveillance
    • Case Studies (Physical)
  • CYBER
    • Cybersecurity News
    • More
  • BLOG
  • COLUMNS
    • Career Intelligence
    • Cyber Tactics
    • Cybersecurity Education & Training
    • Leadership & Management
    • Security Talk
  • EXCLUSIVES
    • Annual Guarding Report
    • Most Influential People in Security
    • The Security Benchmark Report
    • Top Guard and Security Officer Companies
    • Top Cybersecurity Leaders
    • Women in Security
  • SECTORS
    • Arenas / Stadiums / Leagues / Entertainment
    • Banking/Finance/Insurance
    • Construction, Real Estate, Property Management
    • Education: K-12
    • Education: University
    • Government: Federal, State and Local
    • Hospitality & Casinos
    • Hospitals & Medical Centers
    • Infrastructure:Electric,Gas & Water
    • Ports: Sea, Land, & Air
    • Retail/Restaurants/Convenience
    • Transportation/Logistics/Supply Chain/Distribution/ Warehousing
  • EVENTS
    • Industry Events
    • Webinars
    • Solutions by Sector
    • Security 500 Conference
  • MEDIA
    • Interactive Spotlight
    • Photo Galleries
    • Podcasts
    • Polls
    • Videos
      • Cybersecurity & Geopolitical Discussion
      • Ask Me Anything (AMA) Series
  • MORE
    • Call for Entries
    • Classifieds & Job Listings
    • Newsletter
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • This Month's Content
    • Advertise
  • SIGN UP!
CybersecuritySecurity NewswireCybersecurity NewsBanking/Finance/Insurance

JPMorgan Chase & Co. CISO writes open letter to third-party suppliers

By Jordyn Alger, Managing Editor
Red envelope on yellow background

Lucas George Wendt via Unsplash

May 2, 2025

“The modern ‘software as a service’ (SaaS) delivery model is quietly enabling cyber attackers and — as its adoption grows — is creating a substantial vulnerability that is weakening the global economic system.”

This statement by Patrick Opet, Chief Information Security Officer (CISO) at JPMorgan Chase & Co., is a part of an open letter written to call on providers to reprioritize security rather than prioritizing the launch of new products. 

In the letter, Opet emphasizes a growing risk in the software supply chain with SaaS as a default in delivering software. While the model is efficient and offers rapid innovation, it also increases the impacts of vulnerabilities, outages, and/or breaches. 

Mark Townsend, Co-Founder & CTO at AcceleTrex, states, “When buying SaaS, you’re buying a system deployed by a vendor that you are trusting your data to. Many will provide an annual pen test report and demonstrate alignment with SOC2 and other standards, but as the author points out, a lot happens within these apps, and the infrastructure that enables them, over the course of a year. The security of these systems is fairly opaque and requires a bit more transparency between the vendor and the consumer as to how the data is secured.”

Opet also points out how competition between software providers has led to the prioritization of accelerated feature development rather than stronger security. According to Opet, this competition “often results in rushed product releases without comprehensive security built in or enabled by default, creating repeated opportunities for attackers to exploit weaknesses.” Opet adds that the continued prioritization of market share over security will expose customer ecosystems to risks. 

On the subject of the letter, Townsend shares, “It inspires constructive conversations that I think are necessary and important to have. It points to a frustration among consumers that vendors are simply not doing enough and many are prioritizing speed above security. The rush to stay ahead of the competition has led to several issues over the years. A balance needs to be made and demonstrated to the market. I think his comments are balanced and hopefully inspire some positive change amongst SaaS suppliers and consumers. Change will not happen until more consumers demand it. This letter is a start, but others need to sign on to it and start making those demands of their providers to create meaningful change.” 

KEYWORDS: software as a service (SaaS) third-party cybersecurity third-party risk

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Jordynalger

Jordyn Alger is the managing editor for Security magazine. Alger writes for topics such as physical security and cyber security and publishes online news stories about leaders in the security industry. She is also responsible for multimedia content and social media posts. Alger graduated in 2021 with a BA in English – Specialization in Writing from the University of Michigan. Image courtesy of Alger

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • Cyber tech background

    Security’s Top Cybersecurity Leaders 2026

    Security magazine’s Top Cybersecurity Leaders 2026 award...
    Top Cybersecurity Leaders
  • Iintegration and use of emerging tools

    Future Proof Your Security Career with AI Skills

    AI’s evolution demands security leaders master...
    Security Leadership and Management
    By: Jerry J. Brennan and Joanne R. Pollock
  • The 2025 Security Benchmark Report

    The 2025 Security Benchmark Report

    The 2025 Security Benchmark Report surveys enterprise...
    The Security Benchmark Report
    By: Rachelle Blair-Frasier
Manage My Account
  • Security Newsletter
  • eMagazine Subscriptions
  • Manage My Preferences
  • Online Registration
  • Mobile App
  • Subscription Customer Service

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Security audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Security or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Northland Controls sponsored content
    Sponsored byNorthland Controls

    The Execution Gap: Why Great Security Design Doesn't Always Deliver Great Security

Popular Stories

Healthcare supplies

3 Healthcare Breaches in Quick Succession Raises Concerns

Security's Most Influential people 2026

Security’s Most Influential People in Security 2026

Man driving

150M Driver’s Licenses Exposed, Security Experts Discuss

Police lights

Family of Fatally Shot Security Guard Seeking Answers

Stressed woman

Ransomware Doesn’t Just Break Systems. It Breaks People.


AlertMedia sponsored webinar

Events

September 30, 2026

When ICE Visits Your Hospital

LIVE: September 30, 2026 at 2 PM EDT This webinar will discuss practical frameworks for developing policies, training staff, and coordinating with legal, compliance, and executive leadership before an enforcement action occurs.

October 7, 2026

Modernizing Travel Risk Management: How Security Teams are Strengthening Duty of Care

LIVE: October 7, 2026 at 2 PM EDT Learn how security teams have strengthened travel risk management for a global workforce. Move beyond manual monitoring to earlier, verified awareness and a more defensible approach to security operations.

View All Submit An Event

Products

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

Security Culture: A How-to Guide for Improving Security Culture and Dealing with People Risk in Your Organisation

See More Products

Related Articles

  • Donna Kobzaruk talks with Security for our Women in Security podcast

    Listen to Donna Kobzaruk, Executive Director Global Security at JPMorgan Chase in the latest Women in Security podcast

    See More
  • Red keyboard

    More than 40% of Fintech Breaches Linked to Third-Party Vendors

    See More
  • Adds Ptz Capabilities To Third Party Cameras

    See More

Related Products

See More Products
  • facility manager.jpg

    The Facility Manager's Guide to Safety and Security

  • into to sec.jpg

    Introduction to Security, 10th Edition

  • The Complete Guide to Physical Security

See More Products
×

Sign-up to receive top management & result-driven techniques in the industry.

Join over 20,000+ industry leaders who receive our premium content.

SIGN UP TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • Newsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2026. All Rights Reserved BNP Media, Inc. and BNP Media II, LLC.

Design, CMS, Hosting & Web Development :: ePublishing