The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

IHS Markit Expands KY3P Platform with Financial Crimes Screening

IHS Markit has added financial crimes screening to the due diligence tools on its KY3P vendor risk management platform. The screening solution allows users to detect whether their vendors may have breached standards governing anti-bribery and corruption, anti-money laundering, sanctions and export controls. Financial crimes screening data is sourced through Regulatory Data Corp’s (RDC) Global Regulatory Information Database (GRID).

IHS Markit brought KY3P to market in late 2015 with Barclays, Goldman Sachs, HSBC, Morgan Stanley and UBS as design partners helping to create a high standard for assessing and monitoring third-party vendor risks. Towards 1,500 vendors and more than 100 financial institutions are registered with KY3P.

The company describes the platform as a centralised community for improving third-party risk management. It presents a holistic vendor risk profile spanning information security risk assessment, business continuity, sanctions screening, anti-bribery and corruption screening, financial risk assessment, cyber vulnerabilities and negative news assessment. It also offers a standardised due diligence process and a single platform for vendor response management during major incidents.

Related content

WEBINAR

Upcoming Webinar: Fighting fraud and financial crime with RegTech

Date: 24 June 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Financial fraud and crime continue to escalate causing significant damage to companies, countries and the global economy despite enormous efforts by firms and organisations in the financial services sector to identify and expel bad actors. As these bad actors...

BLOG

Q&A: The Future of Regulatory Reporting

Tom Wieczorek, MD of Global Product Management at UnaVista, part of the London Stock Exchange Group, gives us his unique insights into the key challenges and opportunities within today’s rapidly evolving regulatory reporting environment – and what firms should be doing to stay ahead. What are the key functional challenges for those seeking to implement...

EVENT

RegTech Summit APAC

RegTech Summit APAC will explore the current regulatory environment in Asia Pacific, the impact of COVID on the RegTech industry and the extent to which the pandemic has acted a catalyst for RegTech adoption in financial markets.

GUIDE

RegTech Suppliers Guide 2020/2021

Welcome to the second edition of A-Team Group’s RegTech Suppliers Guide, an essential aid for financial institutions sourcing innovative solutions to improve their regulatory response, and a showcase for encumbent and new RegTech vendors with offerings designed to match market demand. Available free of charge and based on an industry-wide survey, the guide provides a...