Third-Party Due Diligence
Third-party risk is not only a financial services problem, and DetectX® Third-Party Due Diligence screens the organisations you depend on with the same data and the same audit trail as the customers you onboard.
The DetectX® approach
Sanctions, media, ownership and risk intelligence are delivered as a SaaS solution, so screening starts in days rather than after an IT project.
Continuous monitoring identifies sanctions exposure, ownership changes, political links and negative media as they appear, and screening and rescreening are automated rather than run by hand.
- Your risk categories
- Categories, thresholds and scoring rules are set to your own policies, industry requirements and risk appetite.
- Beneficial ownership
- Hidden ownership links are surfaced, which is where sanctions exposure in a supply chain usually sits.
- ERP, CRM and HR integration
- Risk profiles update automatically when the internal record changes, so a new supplier is screened because it was entered, not because someone remembered.
What it changes
Every decision and every risk change is captured in a complete audit trail for governance and regulatory review, and reporting is structured to global sanctions and due-diligence requirements rather than assembled per request.
- Earlier intervention
- A supplier's ownership change found on the day it is filed is a decision; found at renewal, it is a disclosure.
- Procurement oversight
- Bidders, subcontractors and critical service providers are monitored on the same basis as direct suppliers.
Why DetectX®
The industries this matters to are not only banks. Manufacturing screens producers, defence screens partners for sensitive ownership ties, the public sector screens bidders, energy screens contractors working in higher-risk regions, and transport monitors sanctions on vessels and operators. The data and the workflow are the same; only the population changes.
Regulatory requirements
DetectX® supports the FATF and GAFI recommendations, and is used against Swiss regulatory requirements including GwG, FINMA-GwV, VsB 16, KAG, FinfraG, FidleG, BEHG and KKG.
It also supports MiFID and EMIR reporting obligations, and BASEL II and III requirements.
See Third-Party Due Diligence on your own data
A demo runs against a scenario you choose, so the alert volume and the match quality are yours rather than ours.
Request a demo