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Introduction to Continuous Monitoring in TPRM In an era where business ecosystems are increasingly interconnected, the importance of Third-Party Risk Management (TPRM) has never been more pronounced, especially for Indian businesses. With the rapid evolution of market demands, regulatory landscapes, and technological advancements, continuous monitoring has emerged as a critical
Introduction to Third-Party Risk Management for Small Businesses In the vibrant and competitive business landscape of India, small businesses face a unique set of challenges and constraints, particularly when it comes to managing third-party risks. The essence of Third-Party Risk Management (TPRM) lies not just in its ability to safeguard
The world of Background Verification (BGV) is undergoing a significant shift today. Driven by rapid technological advancements and a change in global workstyles, traditional methods are being challenged, and new barriers are coming up. This blog delves into this evolving landscape of Background Verification, exploring how technology fuels new forms
As business ecosystems expand and evolve, attracting the right vendors for businesses becomes crucial. That’s where a robust vendor onboarding process becomes important. It’s not just paperwork – it’s a strategic investment, ensuring your partners meet their needs and excel in their goals. However, onboarding a vendor is only as
With digital transactions increasing in India, businesses must prioritize KYC compliance to verify their customer’s identities and prevent financial crime. One crucial aspect of KYC compliance is proof of identity (POI), which involves obtaining valid documents from customers to confirm their identity. This article explains why POI is crucial
The objective of due diligence is to gather all relevant information to make informed decisions that minimize risk and maximize returns. However, traditional due diligence can be a lengthy, costly, and complicated process. That’s where simplified due diligence comes into play. Simplified due diligence is a streamlined version of
What is Due Diligence? According to Investopedia, the term due diligence refers to an investigation, audit, or review performed to confirm facts or details of a matter under consideration. In the context of a business, due diligence means employing KYC/KYB procedures to ensure compliance, prevent fraud, and minimize risk exposure
Business verification is a 360-degree audit or investigation to evaluate any risk from a financial, legal, operational, or regulatory perspective. It is done before onboarding any business or forming any deal/relationship with the third parties to have prior knowledge of the risks involved. For example, when considering to take business services
What is client onboarding and due diligence? Client onboarding is the process of onboarding new clients into your business while ensuring due diligence. A seamless client onboarding process enables businesses to build initial rapport with prospective clients, prevent impediments, and deliver an outstanding experience. Needless to say, a great client
What Is Supplier Onboarding? Supplier onboarding and due diligence is the process of gathering important information on prospective suppliers, vendors, distributors, or other third parties for identity validation and risk assessment. After 360-degree due diligence, businesses can onboard them into their platform for the smooth functioning of supply chain operations.
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The most noteworthy aspects of our collaboration has been the ability to seamlessly onboard partners from all corners of India, for which our TAT has been reduced from multiple weeks to a few hours now.
