Accelerating client onboarding and periodic refreshes for a UK-based private bank
Read moreThe challenge:
A European multi-national aerospace, defence and security company needed a solution to help support its rigorous due diligence process for existing and prospective supply chain partners. They needed to source trusted data on entities in the Gulf and approached Diligencia for two main reasons: firstly our proven ability to retrieve, standardise and place in context information on entities in the MEA region that is not always easy to find; and secondly our responsiveness to the client’s specific requirements, for example when onboarding a new supplier or conducting a review.
The solution:
Using Diligencia’s award-winning online platform, ClarifiedBy.com, the client was able to access unparalleled corporate data on entities in the Middle East & Africa. They use the platform to confirm their suppliers’ registered details, map ownership structures (including Ultimate Beneficial Owners) both within and across jurisdictions, and then screen for sanctions, PEPs and adverse media. They conduct due diligence on new entities when required, and revisit and reassess existing organisations in their supply chain on a periodic or ad hoc basis.
Given the sensitivities of supplying defence equipment and services around the world, and the need to understand the make-up of controlling entities and the people or state-owned enterprises behind them, it is of upmost importance to this client that the data on ClarifiedBy.com is reliable and accurate.
The result:
In a high-value, high-risk and highly secure industry, where the creation and supply of products needs to be strictly controlled and understood, the client was able to supplement their already strong program of due diligence and supply chain management using our comprehensive data available on ClarifiedBy.com.
The firm combines the information from ClarifiedBy.com with global data from their other approved information providers to create and maintain internal risk-assessment scores. Our data has brought operational efficiency to their third-party management and compliance processes for their suppliers across the Gulf.
