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

Recorded Webinar: How Financial Institutions can adjust to working in the New Normal

The very sudden impact of Covid-19 and resultant shutdown of physical sites has stress-tested financial institutions and vendors to their limits. Now banks and firms are slowly starting to re-open offices. But what will the new normal look like and what steps should you be taking now to make the most of this situation? This...

BLOG

The Future of Transatlantic Regulatory Cooperation: Antony Phillipson

As the RegTech Summit Virtual 2020 fast approaches, we are so pleased to welcome Antony Phillipson, Her Majesty’s Trade Commissioner for North America and Consul General in New York on Day Three (November 18) for a special Keynote speech and Q&A to discuss a possible Brexit UK-US FTA and outline the future of transatlantic regulatory...

EVENT

RegTech Summit London

Now in its 5th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

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...