KY3P® for Third Parties
Risk Assessments Are Critical to Your Business, But They Shouldn't Disrupt It
KY3P® Assessments are designed to benefit all industry participants, from financial institutions to their suppliers, partners, and other third parties.
Our assessments-as-a-service model streamlines and simplifies third-party risk assessments by executing them once and delivering them to many over a secure, shared-services platform.
KY3P Assessments Are as Beneficial to Third Parties as They Are to Their Customers
Maximized Effort
Complete your assessments once and use them across many financial institutions.
Consistent Standards
Put confidence in KY3P’s best practices standard instead of managing different standards across your customer base.
Shorter Sales Cycle
Direct future customers to your existing KY3P Assessment to accelerate customer acquisition and onboarding.
How it Works
Increase Operational Efficiency
Effectively managing operational risk is now a mission-critical area in financial services. Regulatory pressures require firms to proactively manage suppliers, leading to an increase in due diligence questionnaires (DDQ). This creates an increased burden on you and your firm to respond to these requests and share information in a timely manner. Multiple DDQs and the lack of standardization in collecting and distributing the data can lead to duplicated efforts, costly errors, and delayed responses.
Our KY3P® for third parties services enable you to respond to due diligence requests from your entire client base. Driven by insights from diverse banks, customers, and S&P Global cross-industry experience, the KY3P blended framework consists of control objectives critical to business. We offer three different use cases depending on your need.
Use Cases to Suit Your Needs
The KY3P Methodology
The Benefits of S&P Global KY3P for Third Parties
Increased Efficiency
Directly addresses the risks that are important to your clients.
Save Time
The same data is reusable across multiple clients, avoiding duplicated effort.
Comprehensive Coverage
Maps to multiple frameworks, standards, and regulations to address multiple client requirements.
Increase Access
Share directly with a client instead of waiting for requests to facilitate a more collaborative and partnership-based relationships with customers.
Research and Insights
Request Follow Up
Increase your efficiency in responding to due diligence questionnaires. Complete the form to discover the power of a fully scaled network.