RiskTech Forum

IHS Markit Adds to its KY3P Platform

Posted: 16 August 2017  |  Source: Markit

IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced the addition of Shared Assessments’ Standardized Information Gathering (SIG) questionnaire to its Know Your Third Party Risk Management platform (KY3P ®).

IHS Markit, in collaboration with The Santa Fe Group, the managing agent of the Shared Assessments Program, now offers customers the flexibility to request the use of Standardized Information Gathering (SIG) questionnaire within KY3P. The SIG questionnaire is a comprehensive bank of questions aligned to industry standards and regulatory requirements, to determine how information technology and data security risks are managed across a broad spectrum of risk control areas.

“We commend KY3P for joining our Shared Assessments membership in advancing best practices in third party risk management. We look forward to the perspective and innovation that IHS Markit brings to the table in expanding their offering to its customer base,” said Catherine A. Allen, chairman and CEO, The Santa Fe Group, the strategic advisory group that manages the program.

“It is rewarding to build our KY3P platform around our community’s growing needs with a priority to offer standardization, flexibility and customization,” said Ellen Schubert, CEO of KY3P at IHS Markit. “Many financial institutions and vendors are already using or are familiar with the SIG questionnaire and this new upgrade allows us to serve the needs of a broader set of financial firms by making it readily accessible.”

In just over a year and half since its launch, KY3P has seen a dramatic rise in user adoption with over eighty signed financial institutions – an increase of more than one hundred percent since this time last year. For additional information on KY3P, please visit: http://www.markit.com/product/ky3p.