A McKinsey article on use of AI in the insurance industry calls data and analytics capabilities “table stakes” in the sector in Europe and North America. The article notes that “External data are the ‘fuel’ that is unlocking...
Over the past few months, companies from a wide range of jurisdictions and industries had to pay hundreds of millions of dollars in fines for alleged failures of compliance and due diligence. In this blog, we dive deeper into some of these enforcement...
The Federal Deposit Insurance Corp. (FDIC) made international headlines when it announced Friday, March 10 that it was closing the Silicon Valley Bank (SVB). This is the largest U.S. bank failure of the decade, as SVB is estimated to have had over $209...
What is your reputation worth? While reputation can be difficult to quantify, a study by the World Economic Forum suggests that more than 25% of market value can be attributed to an organization’s reputation. Particularly in the financial service...
Germany’s Supply Chain Due Diligence Act has been effective since 1 st January 2023. The new law requires large companies operating in Germany to carry out human rights and environmental due diligence on their business and its suppliers. Now, many...
Supply chain risk is not a new phenomenon, but it has certainly intensified. As the pandemic began its global spread in early 2020, 94% of Fortune 1000 companies reported supply chain disruptions . Today, global supply chains continue to flounder, earning...
Today's financial institutions have it tough. Compliance requirements are becoming almost impossibly rigorous. Data is growing exponentially, both in terms of sheer volume and number of sources. Financial crime is on the rise and is so hard to combat...
Regulators increasingly require corporates and financial services firms to incorporate Environmental, Social and Governance (ESG) risks into their due diligence and reputational risk management processes. ESG also brings opportunity: asset managers and...
Sometimes, the threat of financial consequences is enough to spur organizations to action. For example, in 2020, the threat of restricted access to the U.S. market spurred a company to make changes to address potential forced labor risk within its supply...
A decade ago, sanctions compliance appeared focused on banks and other regulated financial services. In recent years, however, that spotlight has become a floodlight across many industries. Why? Globalization and digitalization are two factors that have...
How to Better Manage Risk with Proper Due Diligence There will always be some kind of risk to your business on the horizon. That much is certain. But what about the risk that’s right under your nose that you can’t even see? Not to sound...
As reflected in the rise of environmental, social, and governance (ESG) scores, sustainability is now an outright expectation for a growing number of investors and consumers. Your company’s own ESG score will play an increasing role in its ability...
How to Create an Efficient Risk Management Workflow Even before the prevalence of ESG scoring, there was always a lot riding on your due diligence. Traditionally, maybe you needed to identify and assess any financial and/or reputational risks before...
In today’s world, big data allows banks to reach new levels of innovation. Applying big data analytics to high-quality datasets guarantees the value and relevance of products clients are searching for. Nevertheless, numerous banks have yet to take...
Risk professionals often ask our data specialists how data and technology can help them improve their due diligence efforts and proactively mitigate emerging risks. The reality is that due diligence can be cumbersome and risk monitoring is a full-time...