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Enterprise risk management intelligence platform

Enterprise risk

Enterprise risk management is vital to corporate governance in a world where lack of oversight can ultimately lead to a business’s demise.

Enterprise risk concerns drive businesses to protect themselves in order to have confidence in partners, suppliers and providers their businesses rely on. Third-party risk management is important as failure to assess third-party risks can expose businesses to supply chain issues, data breaches and reputational damage.

KYP is a UK based proactive real time 3rd party enterprise risk intelligence platform that addresses the need for continuous monitoring and alerts of 3rd party companies. The relationship may be: merchant monitoring for acquirers, supply chain due diligence and monitoring, open banking third party provider (TPP) risk scoring each time they access an account servicing payment service provider (ASPSP), invoice risk scoring each time a company pays out funds.

“The problem nowadays is trust – do we know the partners and companies we work with,” said Alan Nagle, ceo of KYP. “Organisations need a better way to manage their real-time financial and reputational risk in an increasingly open and connected world”. Nagle continued “we give organisations confidence and peace of mind empowering them to build more profitable relationships, to have the information to make informed decisions on risk.”

 “Our goal at KYP is to give organisations continual confidence in their partners and providers in a more open and connected world,” said David Parker, chairman of KYP. “Regulators are increasingly looking for companies not just to carry out periodic reviews but to have continuous, real-time risk assessments of their merchants and companies they work with. KYP delivers this.”

The KYP enterprise risk Risk Intelligence Platform delivers a data orchestration solution, accessible through an easy-to-use graphic interface. The risk scores and alerts are delivered through analysis of: darkweb, adverse media, credit scores, politically exposed persons (PEPs), sanctions, cyber risk, insolvency checks, state of the art linking technologies.

This delivers a market unique complete picture of the partners a business relies upon. KYP then combines this data and intelligently connects it together with our unique AI and Machine Learning resulting in connections other solutions are missing.

Why is enterprise risk management important?

Open Banking – 30 million transactions a day flow through Open Banking without ANY risk scoring platform. The global open banking market size accounted for $7 Billion in 2018, and is expected to reach $43 Billion by 2026.

Invoice Scoring – Nearly £2 trillion invoicing fraud globally every year.

Fraud in the UK – BDO’s research found that six out of ten mid-sized business in the UK were hit by fraud in 2020, suffering average losses of 245,000 pounds, and nearly 40% of all companies surveyed said they’d experienced increased fraud attempts compared to the previous year.

Fraud in the UK – BDO’s research found that six out of ten mid-sized business in the UK were hit by fraud in 2020, suffering average losses of 245,000 pounds, and nearly 40% of all companies surveyed said they’d experienced increased fraud attempts compared to the previous year.

(source: Global Survey on Reputation Risk – Deloitte)

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