Refinitiv, a provider of financial markets data and risk-management solutions, has partnered SAI Global to optimise risk management and prevent financial crime.
The deal will integrate Refinitiv World-Check into SAI Global’s SAI360 for Digital Risk solution, allowing organisations to perform third-party vendor risk assessments more efficiently and effectively, according to the company.
SAI Global’s SAI360 for Digital Risk solution leverages thousands of out-of-the-box controls and regulations and predefined automated workflow. As a result, organisations can manage and mitigate risks from the likes of cybersecurity threats, third-party vendors, as well as protecting their key data.
Refinitiv World-Check is a source of risk intelligence that supports the Know Your Customer and Third Party Risk due diligence process. It helps organisations around the world assess the risks associated with sanctions, organised crime, fraud, money laundering, bribery and corruption, as well as modern day slavery and country risk.
“Banks, financial services companies, and private and public institutions alike are in the vanguard of fighting financial crime. As the perpetrators become more nefarious and move increasingly online, there is a need for ever-more sophisticated tools to monitor and track criminals and the transactions they undertake,” said Rob Van Straten, executive vice president EMEA and APAC at SAI Global.
“Alliances such as this enable customers to advance confidently by leveraging technology that makes an impact on the global networks behind financial crime and the untold business and societal harm it can bring.”
Refinitiv provides financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides data and insights, trading platforms, and open data and technology platforms that drive performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.
Stuart Brown, global head of emerging & frontier market at Refinitiv added: “Financial crime is costing companies and financial institutions. Global private partnerships play a crucial role in combating the issue.
“Refinitiv and SAI Global’s new collaboration demonstrates how two organisations can work together to leverage the technology platforms and data needed to fight financial crime.”
SAI Global provides integrated risk management solutions, assurance and property services, helps organisations manage risk to create trust and achieve business confidence, growth, and sustainability.
Earlier this year, SAI Global purchased Strategic BCP ResilienceONE. The software provides a way to bring business continuity, disaster recovery, cyber resilience and crisis management together within a single SaaS-based solution.
Increasing risks emerging from cyberattacks, physical disasters and regulations such as the EU GDPR, means companies must be able to effectively understand, diagnose and remedy business risk.
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