Third-Party Risk Intel

The Third-Party Risk Intel feature introduces a powerful, AI-driven capability designed to help you evaluate third parties more efficiently and comprehensively. By leveraging advanced data aggregation and analysis, the tool provides consolidated insights that previously required navigating across multiple modules. This helps you in:

• Faster and more reliable evaluations of third parties.

• Consolidated and AI-generated information presented in a single report.

• Enhanced risk visibility without the need to switch between multiple modules or data sources.

Third-Party Risk Intel enables you to search for any company or entity and instantly generate a comprehensive screening report. The AI-generated report includes:

• Entity details

• Alternate names

• Key personnel

• GDC Global Database Check screens over 1,500 lists for sanctions, embargoes, watchlists, court lists, and politically exposed persons. When a third party is entered, it is immediately screened. Re-screening frequency can be scheduled. hits

• Media Monitor The Media Monitor screens for adverse news relevant to compliance concerns. hits

You can view or download the report from the Action column in the History tab to review your findings. Each report also includes access to a history view, allowing you to easily review past screenings.

Screening third parties

To screen your third parties, perform the following steps:

1. Enable Third-Party Risk Intel.

   1. Go to Settings and select AI Opt-In.
      This could be in the AI Services if you have already enabled AI Opt-In.

      Note

      If you are new or have not opted-in for AI Services, perform the following steps:

      1. Go to Settings and select AI Opt-In.

         Only the Client Admin The user role with access to all records, reporting, and settings. The role with the highest privileges. Custom roles can be created. can enable the AI Opt-In.

      2. Review Terms & Conditions and select the consent checkbox.

      3. Select Confirm.

      Your support team then enables the feature.

   2. Select Enable against Third-Party Risk Intel. The Third-Party Risk Intel option becomes visible in the dashboard.

   3. Ensure your organization’s AI services have been activated.

      Your support team will assist with backend activation if required. The Third-Party Risk Intel feature becomes accessible to the Client Admin by default once the tenant-level feature is enabled in Features and Settings.

2. Access Third-Party Risk Intel module

   1. From the Dashboard view, select Third-Party Risk Intel in the left-hand navigation panel.

   2. In the New Search tab, enter Name or Country.

   3. Select Search to begin screening.
      This generates screening results and a downloadable report.

      Important

      • This is a paid feature with a default limit (pre-defined number of searches). If this limit is exhausted, any additional searches available depends on the number of searches defined in your package.

      • When a search request is initiated, it enters a Loading state. While the request is in progress, no additional screening requests can be started until the current one is completed.

      • Navigating to other pages does not cancel the request. Instead, a red dot appears next to the Third-Party Risk Intel in the navigation panel to indicate that the screening is still in progress.

3. View screening history and download report

   The History tab displays a record of all screening requests, including both pending and completed screenings. Pending screenings indicate requests that are still in progress, while completed screenings show requests that have finished processing. For each completed screening, you can view the screening results and generate a downloadable report in PDF format.

   Choose a record and select the visibility icon to open the Third-Party Risk Intel Results page or clipboard icon to download the report as a PDF file.

   Each generated report includes key information related to the screened entity. This consists of the entity details, executive or key personnel information, a summary of the findings, as well as data from the Global Database Check (GDC) and Media Monitoring results.

4. Provide feedback

   You can provide feedback for each report by marking the like or dislike feedback buttons, which is then recorded and stored for each individual report.

5. Manage search limit

   The search limit feature helps control and monitor the number of searches you can perform within the system. It ensures that search usage is tracked efficiently and prevents exceeding the allocated search capacity.

   Your remaining search count is visible in the Search tab and automatically decreases after each screening.

   Each tenant is allocated limited number of searches by default, which can only be extended by a Super Admin.

Third-Party Risk Intel configuration

Third-Party Risk Intel must be explicitly enabled before users can access it.

Tenant-Level setup

1. Navigate to Support > Tenant features and settings > Settings.

2. Under Group Settings, select AI Services.

3. Enable Third-Party Risk Intel.

   A Super Admin must define the maximum number of searches allowed for the tenant.

   Until this is set, Third-Party Risk Intel will not be available to any user.

Role-based access control

Only users with the Super Admin or Client Admin roles can configure access. These roles are the only ones authorized to enable Third-Party Risk Intel and assign permissions to custom roles.

To define role permissions:

1. Go to Settings > Security > Custom Roles.

2. Select a custom role and then enable the Third-Party Risk Intel permission.

Note

• Client Admins have access by default.

• Custom roles (Client Manager The user role with access to everything except administrative settings. Custom roles can be created., Client Admin, Client User The user role with access to data based on their region (such as Asia) and, possibly department (such as IT). Custom roles can be created.) can access the feature once the necessary permissions are granted.

• Default roles, Client Manager and Client User, do not have access to the Third-Party Risk Intel feature by default.

• Users without access must contact their Client Admin.