Sign up for our Free Regulatory Newsletter for Payment Service Providers!

TPRM Challenge: Integrating Alternative Datasets

This blog series discusses four key third-party risk management challenges for 2022. Last week we investigated the underestimation of requirements to execute Sound TPRM. This week: integrating alternative datasets.

Authors: Stefan Peekel & Danny Haydon

The increasing access to alternative data opens opportunities for advanced analytic approaches combining different types of sources. A key example for TPRM is the use of negative or adverse news. The involvement in adverse or negative news stories is one of the most prominent indicators of third-party risk. These stories can for example unveil a party’s financial struggles, associations to criminal activity, or involvement in investigations by regulators or governments. 

All these types of events are reported by news sources and media prior to any official confirmation. With increased regulatory and societal attention on effective risk management and the widely regarded benefits of monitoring news, adverse media screening is quickly moving from optional to mandatory. Accordingly, organizations should implement a comprehensive approach and capability to analyze and gain insights from alternative datasets.

Want to know more?

This blog discussed integrating alternative datasetsThis is one of the four key challenges we investigate in our white paper ‘The Role of Technology & Data in Addressing 2022’s TPRM Challenges.’ Want to read about the other challenges and how technology adoption can be a cornerstone strategy to address them? Download our white paper!

About Owlin

Owlin is an AI-driven platform that eases decision-making and provides risk intelligence. We provide organizations with critical insights into counterparties, clients, vendors, suppliers, competitors, and prospects proactively, continuously, and in real-time. 

By visualizing complex data in a simple and customizable interface, we ensure that you don’t get lost in the wealth of information. We apply AI (Natural Language Processing) to provide valuable hidden insights into the data. This enables you and your business to work faster, be better informed, reduce risks and stay on top of opportunities and trends.

How can we help you?

We are excited to get to know you!

Want to see Owlin in action?

Learn more about our solutions and see how we can help your business.
We look forward to meeting you.

Request a demo

Back to top