Vendor Screening Intelligence with Refinitiv

Reputational and Regulatory Screening and Ongoing Monitoring

ProcessUnity Vendor Screening Intelligence (VSI) embeds Refinitiv World-Check One’s third-party screening capabilities into ProcessUnity’s Vendor Risk Management platform to enable automatic and seamless reputational and regulatory risk screening for enhanced third-party due diligence, vendor assessments, issue management and ongoing monitoring processes. With VSI, third-party risk teams can screen vendors at a deeper level via vendor identity validation and ultimate beneficial owner identification.

ProcessUnity Vendor Risk Management + Refinitiv World-Check One Third-Party Screening

ProcessUnity Vendor Screening Intelligence combines Refinitiv’s reputational and regulatory risk expertise with ProcessUnity’s industry-leading third-party risk management platform and Best Practices Program – an out-of-the-box, proven methodology with pre-built workflows, notifications, reports and dashboards to support each stage of the vendor risk lifecycle. 

Vendor Screening Intelligence Vendor Profile

Risk analysts initiate vendor screening against Refinitiv's World-Check One database from the vendor profile.

Vendor Screening Intelligence Vendor Screening Tab

The vendor screening tab displays all potential "hits" against the submitted vendor name.

Beneficial Owner Vendor Screening Result

The vendor screening results displays all findings that may be related to the vendor. VSI allows the analyst to drill down in to the sources within WC1 to validate the information and identify issues for remediation.

Vendor Screening Intelligence Beneficial Owner Profile Business

Beneficial owners - both businesses and individuals - can be identified, associated with a specific vendor and flagged for screening in WC1 all within the ProcessUnity Platform.

Beneficial Owner Vendor Screening Tab

When beneficial owners are screened in WC1, screening results are created and brought into ProcessUnity for analysts to review. The screenings tab - business organizes all potential "hits" against businesses identified as beneficial owners.

Beneficial Owner Vendor Screening Result

The beneficial owner screening results - business presents all findings that may be related to the business entity identified as a beneficial owner. The risk analyst can review these details to identify true matches and initiate remediation of any issues.

Beneficial Owner Profile Individual

Beneficial owners - both businesses and individuals - can be identified, associated with a specific vendor and flagged for screening in WC1 all within the ProcessUnity Platform.

Beneficial Owner Individual Screening Tab

When beneficial owners are screened in WC1, screening results are brought into ProcessUnity for analysts to review. The screenings tab - individual organizes all potential "hits" against the submitted individual beneficial owner's name(s).

Beneficial Owner Individual Screening Result

The beneficial owner screening results - individual presents all findings that may be related to individuals identified as beneficial owners. The risk analyst can review these details to identify true matches and initiate remediation of any issues.

Refinitiv World-Check One risk intelligence data covers:

  • Sanctions (global sanctions lists, narrative sanctions, sanctions ownership information) 
  • PEP (politically-exposed persons and entities) 
  • Adverse media 
  • Regulatory enforcement 
  • Law enforcement 
  • SOEs and SIEs (state owned entities and state invested enterprises) 

Accelerated and Informed Onboarding

detailed view of all third parties reputational and regulatory risk information significantly reduces time to onboard vendors. Improved vendor validation and increased data quality help third-party risk managers make better informed risk decisions. 

Objective and Accurate Assessments 

The risk intelligence provided by VSI, coupled with the risk information from the SIG questionnaire, gives third-party analysts a wider view of potential risks for a more thorough vendor evaluation. The streamlined processes also help reduce analyst review time and enable more informed assessment analysis and decision making. 

Real-Time Automated Issue Management 

Built in Hands-Free Automation alerts of changes in a vendor’s reputational risk and streamlines the issue identification, creation and remediation process. This intelligent automation helps third-party analysts gain keen insight into their vendors’ risk posture, reduces subjectivity in analysis and speeds resolution. 

Dashboards and Analytics 

Vendor Screening Intelligence dashboards and reports provide a holistic view of risk across vendor populations.

Download the ProcessUnity Vendor Screening Intelligence datasheet to learn more. 

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Solution Components

Vendor Screening Intelligence is comprised of four components: ProcessUnity Vendor Risk Management platform, the ProcessUnity Refinitiv Connector, Refinitiv 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:

  • Sanctions
  • Anti-Money Laundering
  • Anti-Bribery and Anti-Corruption
  • Combatting the Financing of Terrorism
  • Anti-Organizational Crime
  • Human Right and Supply Chains
  • Environmental Legislation
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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, wholistic 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 Refinitiv 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 Vendor Screening Intelligence Demonstration

Incorporate expert vendor intelligence into your Third-Party Risk Management program today. Contact ProcessUnity for a live demo.

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About ProcessUnity Vendor Risk Management

ProcessUnity’s Vendor Risk Management software protects companies and their brands by reducing risks from third-party vendors and suppliers. Our platform helps customers effectively and efficiently assess and monitor both new and existing vendors – from initial due diligence and onboarding to termination. Through automation and standardization, ProcessUnity customers reduce busy work, streamline regulatory reporting, and improve overall visibility into vendor performance. Learn more about ProcessUnity and Third-Party Risk Management.