Transform TPRM in Financial Services
Financial service companies must manage a vast network of third party relationships with agents, vendors, and more. As companies expand and diversify their offerings, the potential for risk grows, along with increased scrutiny from both domestic and international regulators.
Fortunately, Certa’s AI-powered TPRM solution can help. With Certa, financial service companies can effectively manage third party relationships to mitigate risks, ensure regulatory compliance, and maximize performance—all while enhancing operational efficiency and reducing costs.
The future of TPRM is here with Certa’s AI-Powered Operating System
Automatically create questionnaires and workflows that you can easily update without coding
Streamline due diligence and reduce duplicate work by automating the third party screening process
Let AI pre-fill questionnaires using existing documents, reducing manual effort from your third parties and improving time to value
Rapidly assess third party relationships against new requirements by analyzing all documentation (e.g. SOC2, contracts, etc.)
Get on-demand analysis of third parties, contracts, and documents impacted by evolving requirements
Manage relevant risks including infosec/privacy, cybersecurity, BCM/BCP, AML, ABAC, SOX compliance, and country risk.
Engage all third party types beyond just vendors, including agents, indirect lenders, borrowers, dealers, balance sheet affiliates, and affinity relationships.
Maintain an audit trail for all interactions with third parties — ensuring that you stay on top of 4th party risk, concentration risk, and cascading risk.
Stay on top of global and domestic regulations (GDPR, GLBA, DORA, PRA), specific guidelines provided by bodies like the OCC, SEC, FINRA, FRB, DOJ, ECB, and FCA, and industry standards like those set by GESI and BITS.
Delivering Quantifiable Results For Financial Services firms
300% Faster Onboarding
A Top 5 EU Financial Service Firm
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Reduced onboarding time from 10 weeks to 1 day
50% Higher Efficiency
A large US Financial Service Firm
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Automated its bespoke process in Certa in 2 days via Certa AI
Tighter Risk & Compliance
A P&C Financial Service Firm in UK
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Mitigated regulatory risk exposure in customer onboarding & compliance
Financial Services Features
Configure Certa to your unique risk needs, whether that’s end-to-end TPRM or a specific anti-bribery check.
Mitigate regulatory risk exposure through automated onboarding for all third parties.
Automatically segment and tier third parties for a risk based approach.
Dynamically generate appropriate due diligence and related controls.
Streamline information security and privacy assessments, reducing manual work.
Ensure resilience to the most timely risks, such as cyber, cloud, and AI risk.
Maintain a thorough business continuity management program to ensure third parties deliver on time.
Centralize your compliance program for all regulations and regulatory bodies, maintaining one source of truth that empowers transparency and efficiency.
Automate PEPs and sanctions screening.
Comply with global and domestic regulations, including GDPR, GLBA, and the Digital Operational Resilience Act (DORA).
Follow specific guidelines provided by bodies such as the OCC, FINRA, FCA, ECB, NYDFS, Interagency and the SFO.
Meet industry standards such as those set by the Office of Thrift Supervision, GESI, and BITS.
Guarantee that you’ll be covered even as frameworks, regulatory bodies, and internal policies change.
Maintain full audit trails and documentation to easily defend with evidence.
Efficiently update frameworks and workflows - including Inherent Risk Questionnaires (IRQs) and Due Diligence Questionnaires (DDQs) - to stay aligned with constantly changing regulations and guidance.
Easily edit workflows in response to changes to internal policy or personnel.
Implement changes quickly with the help of Design AI, which translates business requirements into workflow design.
Bolster supplier information with federated data from data brokers (e.g., BitSight, Rapid Ratings, Black Kite, Ecovadis, Panorays, Interos, and others).
