Vendor Screening Intelligence is comprised of four components: ProcessUnity Vendor Risk Management platform, the ProcessUnity LSEG Risk Intelligence Connector, LSEG Risk Intelligence World-Check One’s third-party screening content and a combination of pre-built workflows, notifications, reports, and dashboards to power vendor due diligence, third-party assessments, issue tracking and remediation, and ongoing monitoring processes.
World-Check One, a highly structured database of intelligence on heightened risk individuals and organizations, has been adopted by many of the world’s largest financial institutions and corporations. World-Check One intelligence surfaces crucial information that supports Know Your Customer and third-party risk compliance processes, including:
- Anti-Money Laundering
- Anti-Bribery and Anti-Corruption
- Combatting the Financing of Terrorism
- Anti-Organizational Crime
- Human Right and Supply Chains
- Environmental Legislation
World-Check One intelligence is used for transaction monitoring, enhanced due diligence and onboarding. The service continuously monitors third-party vendor organizations and their employees, delivering real-time notifications to alert you of potential issues that may signal heightened risk.
Vendor Screening Intelligence is built on ProcessUnity’s Best Practices Program for Vendor Risk Management – a complete, proven third-party risk program with turn-key workflows, assessments, calculations, risk analysis and reporting. Developed by Third-Party Risk Management subject matter experts and perfected via hundreds of successful customer implementations, ProcessUnity Best Practices Program delivers a complete, “out-of-the-box” program with a high-quality, systematic and repeatable assessment process that improves communication between lines of business, third-party risk analysts and third-party contacts to ultimately drive risk out of an organization.
ProcessUnity employs industry-standard questionnaires from Shared Assessments (SIG Core and SIG Lite) to further streamline the vendor assessment process. Integrating external reputation and identity risk information into the ProcessUnity platform can provide an even more complete view of third-party vendors for rigorous due diligence, performance reviews, and SLA monitoring.
Interactive Dashboards & Reports
ProcessUnity Vendor Screening Intelligence provides a real-time, holistic view of the third-party lifecycle across vendor populations through pre-built interactive reports and dashboards. Drill-down capabilities allow users to quickly find the details in any areas of concern while ProcessUnity’s extensive custom reporting capabilities enable the creation of role-specific reports to demonstrate to executives and regulators the existence of a consistent, reliable and repeatable program.
With built-in integration to LSEG Risk Intelligence World-Check One, the VSI solution provides third-party risk teams with a complete Third-Party Risk Management solution that can be deployed in a matter of weeks. These components combine to provide critical insights into a third party’s risk posture, strengthening the relationship between a business and its vendors, third parties and suppliers.
Schedule a Demonstration
Incorporate reputational and regulatory risk expertise into your Third-Party Risk Management processes. Complete the form below to schedule a ProcessUnity Vendor Risk Management demonstration.