Fueled by technology.
Driven by expertise.
Our third party screening and diligence solution is based on a simple premise: thorough, defensible risk-based screening means first running every third party through an affordable screen to identify which subjects to escalate for enhanced diligence. That sounds simple enough, but the volume of potential subjects can be daunting to screen. Add to that the time involved reviewing first-level screens and then determining which require additional diligence? This becomes a resource-intensive and costly proposition.
Against that backdrop, we know that doing business with the 'wrong' third party can devastate a business. Meanwhile, the EU’S recent sweeping anti-money laundering (AML) legislation alongside FinCEN’s new CDD Final Rule place heavy compliance burdens across a spectrum of regulatory frameworks. The scramble to manage compliance demands around AML, Know Your Customer, FATCA, and the new global Common Reporting Standard organizations is pushing the outer limits of many organizations’ legacy systems and straining compliance staff resources.