Service provider monitoring
Establish viable partnerships.Performing in-depth screening of service providers, before you enter a new business relationship and throughout the entire relationship lifecycle.
Key features
Our Solution offers ongoing regulatory monitoring to update the service provider dossiers on a regular basis. Identification of risk-relevant changes in circumstances enables rapid implementation of risk mitigation action. Integrated delta searches eliminate the need to process information more than once.
The product includes the following modules of the Deloitte Standard approach:
+ Structured screening
+ Media search
+ Business background
+ Client network
+ Journey of wealth
+ Risk rating
+ KYC report
For more information about the Deloitte Standard Approach, please click here.
- You can choose to report new service providers to us to begin the onboarding process or to automatically invite them to provide their relevant data directly into our self-service platform
- The onboarding process uses customised questionnaires to assess the provider and (as an option) the services provided
- The screening of service providers is based on the Deloitte Standard and covers the most relevant stakeholders, such as high-level management, significant shareholders, and the Ultimate Beneficial Owner
- The process generates an onboarding report, highlighting potential risks
- Service providers that successfully pass the onboarding process become automatically subject to monitoring
- The monitoring of service providers is performed automatically, on a monthly basis or on a special occasion (e.g. in the event of sanctions, or war)
- Re-screening of significant stakeholders is on a quarterly basis, or earlier on request
- You are immediately notified of any significant risks detected during monitoring
- A summary report of all monitoring activities is provided on a monthly basis
- Each year following their onboarding, our Solution invites the service providers to update their information, either directly or through our self-service portal
- Our self-service portal allows your service providers to open an account and to provide and maintain the information required by your organisation
- Automated emails prompt service providers to join the platform, maintain their records, and provide information on request
- The portal dashboard highlights open tasks, and simple processes guide the service provider to submit and maintain its data
- If relevant information has changed, the relationship is re-screened
The product includes the following modules of the Deloitte Standard approach:
+ Structured screening
+ Media search
+ Business background
+ Client network
+ Journey of wealth
+ Risk rating
+ KYC report
For more information about the Deloitte Standard Approach, please click here.
- You can choose to report new service providers to us to begin the onboarding process or to automatically invite them to provide their relevant data directly into our self-service platform
- The onboarding process uses customised questionnaires to assess the provider and (as an option) the services provided
- The screening of service providers is based on the Deloitte Standard and covers the most relevant stakeholders, such as high-level management, significant shareholders, and the Ultimate Beneficial Owner
- The process generates an onboarding report, highlighting potential risks
- Service providers that successfully pass the onboarding process become automatically subject to monitoring
- The monitoring of service providers is performed automatically, on a monthly basis or on a special occasion (e.g. in the event of sanctions, or war)
- Re-screening of significant stakeholders is on a quarterly basis, or earlier on request
- You are immediately notified of any significant risks detected during monitoring
- A summary report of all monitoring activities is provided on a monthly basis
- Each year following their onboarding, our Solution invites the service providers to update their information, either directly or through our self-service portal
- Our self-service portal allows your service providers to open an account and to provide and maintain the information required by your organisation
- Automated emails prompt service providers to join the platform, maintain their records, and provide information on request
- The portal dashboard highlights open tasks, and simple processes guide the service provider to submit and maintain its data
- If relevant information has changed, the relationship is re-screened
Advantages
Know your counterparties
Self-service platform
Instant and comprehensive provider profile
Deloitte due diligence standard
The Deloitte Standard is the result of Deloitte not only designing a state-of-the-art due diligence process but actually building it with latest technology, evaluating and integrating leading applications to offer a ready-to-use package at preferred rates.
This module includes a best-in-class solution for screening master data against lists of sanctioned individuals and companies, politically exposed persons (PEPs) and other custom lists. It provides accurate identification about threats and reduces false positives.
Multilingual natural language processing is used in combination with machine reading to extract factual intelligence with high precision. The module does all the heavy lifting upfront by analysing each media item and presenting risk-relevant or contextually insightful excerpts in a structured form.
Leveraging a database with information on over 400 million companies, we identify relevant relationships to/from companies and collect data on all involved parties. We provide an overview of company structures, identify the ultimate beneficial owner and visualize this information to identify risk-related objects.
Proper due diligence also covers the business network of a client. All related entities and natural persons in the client network are identified and automatically screened using our Structured Screening module. Resulting risk-related objects are highlighted for further processing.
Knowing the business network of a client, including their current and previous roles in related legal entities, provides you with a clear idea of their sources of wealth. This module calculates the person’s wealth based on all known income sources and available financial data through the business background check.
An automated risk rating considering the entire network as well as the nature of the relationships is calculated to evaluate the inherent risk of a business relationship. It is ‘out of the box’, in line with FATF rules, and can be easily adjusted to your requirements. A high-quality KYC report is automatically generated.
Easy-to-use, plug & play solutions
Deloitte Managed Services is a leading European RegTech Provider of end-to-end managed services for KYC and AML. We combine our extensive expertise with advanced technology, high-quality data and unique mapping intelligence into easy-to-use solutions, no matter which industry or jurisdiction you operate in.
Advanced technology
Proven mapping algorithms
High-quality suppliers
Deloitte expertise
Deloitte due diligence standard
We convert complex problems into easy-to-use RegTech solutions, to execute tasks in the most compliant and efficient way. Access our solutions through the Deloitte KYC Utility or get your exclusive on-site installation.
Your Deloitte Managed Services team
We are a unique team of professionals combining Compliance, Audit, Technology and Industry expertise, using digital solutions to meet your KYC and AML obligations and resolve respective challenges.
Micha Bitterli, Head KYC
Micha has over 20 years of experience in regulation and audit and has worked with national and international regulatory bodies. «As a Big 4 firm we combine leading edge technology and information to efficiently deliver solutions, which enable our clients to stay ahead of their industry.»
Hugh Macquarrie, Head Deloitte Managed Services
Hugh leads Deloitte’s Managed Services offerings in Switzerland and the End-to-End KYC offering across our North South Europe member firms. Hugh is committed to finding creative solutions by bringing together Deloitte’s regulatory, technical and operational expertise and is convinced that with our managed services we can support the banking industry in combatting financial crime, whilst also reducing risk and increasing efficiency for our clients.
Contact us
You are interested in more information? Arrange a call with our experts to schedule a tool demonstration to learn more about our solutions. Use the form below to contact us, and we will get back to you as soon as possible.
Read the full privacy policy