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.

Service provider monitoring

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

Obtain relevant information and early warnings about your service providers, to manage risks in a fast-changing world where relationships can become toxic overnight.

Self-service platform

Collecting the right information from your service providers and keeping it up to date can be very time-consuming. Our self-service platform reduces your time to zero and the time spent by your provider to a minimum.

Instant and comprehensive provider profile

Our self-service platform allows you to search for all the relevant information about a specific provider, including the detailed screening report and the information added by the provider. You can write comments about your experience with the provider and rate them on the platform, for when you consider placing a subsequent order.

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

We use leading technology to provide you with state-of-the-art solutions for your regulatory tasks and obligations.

Proven mapping algorithms

We deploy sophisticated proprietary algorithms to analyse huge volumes of unstructured data to identify regulatory patterns that might harm your business if undetected.

High-quality suppliers

We license up-to-date applications and information services from top quality providers in their respective fields, to increase your regulatory intelligence while scaling up your operations.

Deloitte expertise

Our global organisation gives us access to local legal and regulatory expertise and technology experts in more than 150 countries. We combine their capabilities with ours to deliver first-class solutions.

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 Managed Services

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.»

Dieter Klein, Head Sales & Account Manager

Dieter has advised financial institutions on strategy development, operational efficiency and regulatory implementations across Europe for more than 25 years. «I am excited to see our clients’ businesses grow by deploying our advanced solutions adapted to their specific requirements.»

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.

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