Automate Time-Consuming Third-Party Review Processes with Diligent

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Diligent Launches Third-Party Risk Intel Solution for Enhanced Due Diligence

Diligent has introduced Third-Party Risk Intel, a cutting-edge solution that streamlines the process of conducting third-party reviews. This innovative tool provides significant time-saving benefits for compliance, legal, and procurement teams by automating routine tasks associated with evaluating third-party vendors.

The Power of Artificial Intelligence

The launch of Third-Party Risk Intel builds upon the company’s previous acquisition of 3rdRisk, an artificial intelligence-based platform that offers real-time visibility into an organization’s external ecosystem. This acquisition enables companies to monitor the performance of critical vendors and assess potential risks to their overall risk posture.

Key Features of Third-Party Risk Intel

Entity Resolution: Instantaneous recognition of accurate entities across diverse aliases, translations, and trade names, reducing duplication and manual verification.
Comprehensive Risk Intelligence: Screening of entities and principals against global sanctions lists, PEPs, adverse media, and beneficial ownership networks to reveal hidden connections missed by conventional tools.
AI-driven Risk Synthesis: Producing a clear triage recommendation with a narrative summary, suggested actions, and a full audit trail within minutes, providing a defensible record of decision-making processes.

According to Amanda Carty, General Manager of Compliance at Diligent, “Compliance teams must navigate a complex landscape of third-party vendors, often dealing with different regulatory requirements and expectations. Third-Party Risk Intel simplifies this process by automatically mapping ownership structures, screening entities and key individuals, and prioritizing risks based on credibility.”

By leveraging Diligent’s One Platform architecture and its proprietary due-diligence methodologies, Third-Party Risk Intel delivers deeper, more reliable insights than solutions reliant solely on third-party data feeds. This advanced tool enables compliance teams to qualify risks earlier, maintain focus on high-priority cases, and expand coverage without increasing headcount, resulting in measurable efficiency gains and risk reductions.