Diliger Research Delivers Centralised Third-Party Regulatory Oversight And Monitoring Platform - New Hub Will Enable Institutional Clients And Vendors To Collaborate Quickly And Efficiently To Meet Know-Your-Vendor (KYV) Obligations

Diliger Research has extended its online vendor research service to help financial institutions with vendor risk management (VRM) and stay compliant with know-your-third-party vendor obligations  (KYV).  
 
The new regulatory environment is placing increased pressure on vendors to co-ordinate due diligence responses with their clients; a situation which could inhibit innovation and competition, particularly for the smaller supplier.
 
Following an intense period of due diligence and preparation, the Diliger platform will allow vendors to complete a centrally stored RFI survey which is made available to assist prospective buyers with market scoping and vendor research. The extension of these surveys to cover KYV information, will help  streamline the process of ensuring that required compliance and VRM data is readily accessible at the point of need for multiple clients and prospective purchasers.
 
Available information includes updated financial and legal health data, vendor’s own risk management policies and activities, for example cyber security and succession planning, as well as corporate citizenship and more.  The diliger permissioning process provides control and transparency over sensitive vendor data, providing vendors with confidence that their information is secure from their competitors.      
    
Christian Bower, CEO of Diliger Research commented, “Regulators are becoming increasingly concerned about the risk associated with banks and non-depository financial firms using third-party vendors.  Institutions need to prove they have access to the information to monitor, manage, or control these risks and diliger provides the perfect forum for sharing this information.” 
 
Financial professionals can experience the new functionality by visiting www.diliger.com, where they can search for a vendor and run a report from the vendor’s profile.