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Know Your Third Party (KY3P®)

The industry standard for third-party risk management

Third-party relationships continue to under grow scrutiny by global regulators. As firms increase reliance on third parties to deliver business-critical processes and services, oversight complexity also increases. We provide our global community of end users with best in class third party risk management programs. Our solutions and services designed by the industry drive efficiency, streamline due diligence and deliver transparency across their organizations.

KY3P is an integrated suite of solutions to manage end-to-end third-party risk. The major components that form KY3P are:

  • Onboarding & Oversight provides standardized onboarding, due diligence, inherent risk calculation, oversight and off boarding of third-party products, services and outsourcing arrangements. It enables the enforcement of compliance by codifying the organizations’ vendor risk policies and oversight procedures.
  • Due Diligence and Monitoring helps firms collect and maintain risk information, including cybersecurity & financial ratings, sanctions data, news alerts, cyber event data, and questionnaire responses from third parties that can be used to generate risk scores and drive remediation.
  • Shared Assessments deliver standardized cost effective on-site or desktop assessments by accredited partners based on market standard criteria delivered through the KY3P platform.

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