{"id":3328,"date":"2018-04-23T09:29:44","date_gmt":"2018-04-23T09:29:44","guid":{"rendered":"https:\/\/fintech.global\/AIFinTechForum\/?p=3328"},"modified":"2018-04-27T08:37:19","modified_gmt":"2018-04-27T08:37:19","slug":"ihs-markit-adds-due-diligence-verification-to-ky3p","status":"publish","type":"post","link":"https:\/\/fintech.global\/AIFinTechForum\/ihs-markit-adds-due-diligence-verification-to-ky3p\/","title":{"rendered":"IHS Markit adds due diligence verification to KY3P"},"content":{"rendered":"<p><strong>IHS Markit, a provider of critical information, analytics and solutions, has added due diligence verification to its third-party due diligence service.<\/strong><\/p>\n<p>Grant Thornton will act as the first professional services firm to join with IHS Markit to verify due diligence information collected by KY3P.<\/p>\n<p>By standardising how the financial industry verifies due diligence information IHS Markit said it wants to to improve efficiency throughout the third-party risk management process.<br \/>\nKY3P already streamlines how financial firms collect due diligence data from a range of third parties, including vendors, affiliates, sub-advisors, distributors, clearinghouses and other service providers in the financial industry. For suppliers, the service provides a mechanism that minimises duplicative effort in responding to due diligence requests from financial services firms.<\/p>\n<p>KY3P offers three levels of verification services, including remote verification, where due diligence information is independently validated through the KY3P platform.<br \/>\nIt also offers on site verification, with the service coordinating on site assessment of vendor information, and custom verification through an on-site assessment based on parameters specified by the user.<\/p>\n<p>More than 1,500 service providers and more than 100 financial institutions have registered with KY3P since it launched in late 2015.<\/p>\n<p>\u201cThrough our alliance with KY3P, we can both reduce the cost of evaluating third-party risk and, most importantly, improve financial institutions\u2019 ability to manage their risk,\u201d said Nigel Smith, national Financial Services Advisory leader for Grant Thornton. \u201cMoreover, the KY3P platform is a prime example of how the financial services industry is embracing the opportunity to work together to better tackle risks on a shared basis.\u201d<\/p>\n<p>Headquartered in London, IHS Markit delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions.<\/p>\n<p>It has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world\u2019s leading financial institutions.<\/p>\n<p id=\"highlight\">Copyright \u00a9 2018 RegTech Analyst<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IHS Markit, a provider of critical information, analytics and solutions, has added due diligence verification to its third-party due diligence service. Grant Thornton will act as the first professional services firm to join with IHS Markit to verify due diligence information collected by KY3P. By standardising how the financial industry verifies due diligence information IHS&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/fintech.global\/AIFinTechForum\/ihs-markit-adds-due-diligence-verification-to-ky3p\/\" class=\"gdlr-info-font excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":8,"featured_media":3515,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IHS Markit adds due diligence verification to KY3P - AI in Financial Services Forum<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fintech.global\/AIFinTechForum\/ihs-markit-adds-due-diligence-verification-to-ky3p\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IHS Markit adds due diligence verification to KY3P - AI in Financial Services Forum\" \/>\n<meta property=\"og:description\" content=\"IHS Markit, a provider of critical information, analytics and solutions, has added due diligence verification to its third-party due diligence service. Grant Thornton will act as the first professional services firm to join with IHS Markit to verify due diligence information collected by KY3P. By standardising how the financial industry verifies due diligence information IHS... 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