KYP Announces Strategic Partnership with Gieom to Boost Third-Party Risk Management for Firms Subject to DORA Compliance
KYP, a leading provider of real-time risk intelligence and proactive alerts platforms, has announced a strategic partnership with Gieom, a global leader in operational resilience, risk management, and enterprise productivity solutions.
This collaboration will provide direct access to KYP’s third-party risk intelligence from within Gieom’s DORA 360, an out-of-the-box solution for financial institutions needing to comply with the EU Digital Operational Resilience Act (DORA) by 17 January 2025. Together, KYP and Gieom will enhance the security, efficiency, and regulatory compliance and operational resilience capabilities of financial institutions worldwide.
DORA 360 is an end-to-end operational resilience and risk management platform that simplifies the management of policies, standard operating procedures, and regulatory compliance for DORA and other regulatory frameworks including NIST, ITIL and ISO. It is an out-of-the-box solutions that comes pre-loaded with DORA regulations, technical standards and interconnections between Articles.
Third-party risk management is one of the most challenging aspects of DORA compliance. DORA 360 will leverage KYP’s accurate and concise third-party intelligence to conduct meaningful scenario testing in real-word environments and accelerate remediation of third-party contracts, by evidencing supply chain compliance shortfalls in real time. Regulated firms will gain ongoing, real-time surveillance and be alerted as soon as emerging risks are detected.
Alan Nagle, CEO of KYP, commented:
“We’re thrilled to partner with Gieom and their DORA 360 solution. This collaboration enhances our ability to support financial institutions as they prepare for the Digital Operational Resilience Act (DORA), coming into effect on 17 January 2025. Gieom’s outstanding track record in operational resilience and risk management, and their commitment to innovation, align seamlessly with our mission to provide comprehensive, reliable solutions”
John Santhosh, CEO of Gieom, said:
“In the race to meet the DORA compliance deadline many firms are finding big gaps in their ability to conduct third-party risk assessments quickly and diligently. Having access to the kind of real-life, real-time, reliable third-party data that KYP delivers is a pre-requisite to performing these risk assessments with confidence. We are delighted to be able to offer our clients access to this data from within DORA 360, and to provide KYP clients with the ability to deliver defensible third-party risk management, enterprise wide.”
Through this partnership, KYP and Gieom are set to drive groundbreaking improvements in operational resilience across the financial services industry as a whole by delivering the complete toolset needed to address DORA regulatory requirements.
About Gieom
www.gieom.com & www.dora360.ai
Gieom is a leading provider of Generative AI-powered RegTech solutions, including Process and Policy Digitisation, Operational Risk and Resilience, and Digital Identity Verification.
Gieom has created custom templates that accelerate interpretation and embed compliance with upcoming regulations, including the UK’s Operational Resilience Act, the European Union’s Digital Operational Resilience Act (DORA), and Australia’s CPS 230. Gieom’s Operational Risk and Resilience Platform and DORA 360 also support current and upcoming standards and best practice frameworks, including NIST, ISO, and ITIL.
Headquartered in Bengaluru, India, Gieom has operations and 100+ customers in Europe, the Middle East and Asia Pacific. The company is certified for ISO 27001 and ISO 9001.
About KYP
kyp.io/solutions
KYP provides a cutting-edge B2B SaaS platform that delivers real-time third-party enterprise risk intelligence. Our platform is uniquely designed to offer continuous, comprehensive monitoring of global providers, vendors, and merchants, regardless of their size.
Our approach encompasses a comprehensive analysis, delving into aspects such as DarkWeb activity, Adverse Media, Politically Exposed Persons (PEPs), Sanctions, Credit Scores, Cyber Risk, and Insolvency Checks. We combine this data with our proprietary AI and Machine Learning resulting in unique connections other solutions fail to capture. View more
