Markit Launches KY3P Platform for Third-Party Risk Management

Barclays, HSBC and Morgan Stanley partner to bring users to hub

Gina Ghent, managing director and head of KY3P, Markit

Financial information services provider Markit announced the launch of its Know Your Third Party (KY3P) service on the third day of the Sibos conference, October 14.

Markit says KY3P is the first centralized, cloud-based data hub for third-party risk management processes focusing on vendor due diligence and ongoing monitoring. The hub was created in partnership with banks, buy-side firms and vendors. Barclays, HSBC and Morgan Stanley will work with Markit to onboard their third parties onto the

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