Know Your Third Party (KY3P®)
The Industry Standard for Third-Party Risk Management
As institutions increase reliance on third parties and vendors to deliver business-critical processes and services, the complexity of oversight also increases. Meanwhile, third- and fourth-party relationships are under growing scrutiny by regulators, who are increasingly enforcing actions and issuing hefty financial penalties to organizations with failing controls. KY3P (Know Your Third Party) offers firms a comprehensive suite of solutions, informed by global regulations and best practices, and supported by a significant and growing community of industry-leading firms using the platform.
KY3P Key Features
Data: Improve Decision Making
KY3P sources and orchestrates high-quality, validated company data through our comprehensive assessments or through the industry’s widest range of data feeds.
Technology: Improve Productivity
Industry-leading and multi award-winning workflow technology provides full end-to-end, compliant third-party risk management processes.
Services: Improve Execution
Tap into a global pool of experts and delivery teams. From a one-off onboarding surge to a fully managed third-party risk management as a service solution.
KY3P is an Integrated Suite of Solutions to Manage End-to-End Third Party and Vendor Risk Management
KY3P Supports:
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Onboarding & Oversight
Our Onboarding & Oversight solution provides standardized and policy-driven onboarding, due diligence, inherent risk calculation, oversight, and offboarding of third-party products, services, and outsourcing arrangements.
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Due Diligence Monitoring
Due Diligence and Monitoring help firms collect and maintain risk information, including cybersecurity and financial ratings, location and ESG risk scores, sanctions data, news alerts, cyber event data, and questionnaire responses from third parties to assess risk and drive remediation.
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Assessments Services
KY3P® Assessments facilitate the efficient exchange of standardized, fully validated risk data between service providers and their customers. Our widely adopted methodology gives businesses greater visibility into supply chain risk while enabling third parties to streamline the risk assessment process.
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Managed TPRM Services
KY3P Managed Services provides full life cycle support for the entire third-party risk management process. Our holistic solution streamlines and solves risk and regulatory compliance challenges businesses face enabling focus on the risk and commercial outcomes.
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Benefits of S&P Global KY3P for Third-Party Risk Management
Cost Effective
Decreased costs of third-party oversight and monitoring.
Transparent
Operational clarity for stakeholders driven by a robust workflow engine with a full audit trail.
Time Savings
Upload once and gain permission to many, reducing time updating responses and documentation.
Faster Deployment of Capital
Collaborate quickly and more effectively, reducing time to market.
Reduced Risk
Secure platform to manage and exchange client information minimizes operational risk.
Increased Efficiency
Information gathering for due diligence is simplified.
Recent Awards
News & Industry Insights
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Gain valuable insights and stay ahead of the competition with KY3P, the leading risk management solution trusted by industry leaders worldwide. Request more information to discover how KY3P can help streamline your risk management processes and drive business success.