Vcheck RED, Third-Party Risk Management at the Speed of Business
Vcheck Global's Rapid Enhanced Diligence (Vcheck RED) offers the right tools at the right time at the touch of a button, simplifying management and mitigation of third-party risk at any stage of business.
Vcheck RED presents a full solution to automated risk screening and ongoing monitoring of your entire third-party portfolio at onboarding and throughout the lifecycle of each third-party relationship.
Our solution enables instant screening of third parties for sanctions, PEP, watchlists, and adverse media risks, flagging third parties that should receive a closer look—enabling compliance officers and risk managers to quickly order and receive investigator-driven enhanced due diligence reports within a seamless, cloud-based platform.
Advanced Risk Records
There are four levels of due diligence that can be conducted on your third parties as part of Vcheck RED.
Predictive Risk Indicator (PRI)
This simple, rules-based risk indicator is powered by an algorithm that applies anti-bribery and corruption, as well as anti-money laundering data sources to all onboarded third parties.
Instant Due Diligence Plus (IDD+)
This advanced risk record assessment is for third parties flagged as medium- and high-risk within the Vcheck RED platform. These third parties are assessed against more than 11 million advanced risk records and 100,000 sources across 50+ risk categories. Risk managers and compliance officers receive IDD+ Monitoring Alert email notifications if the automated system identifies a match.
Instant Due Diligence (IDD)
This automated verification and screening tool examines third parties against 180+ million company registry records. Third-party profiles are flagged based on results.
Enhanced Due Diligence (EDD)
Select deep-dive investigations with human-driven intelligence powered by Vcheck Global's highly skilled research team and sources from around the world for your medium- and high-risk third parties that require an investigation. Through the Vcheck RED platform, risk managers and compliance officers can order and receive reports with details of professional competencies and executive track records.
The Vcheck RED platform is made up of interconnected modules that are configurable to your third-party risk management needs, enabling you to quickly and easily:
- Apply Risk-Based Due Diligence
- Classify & Engage
- Communicate & Train
- Continuously Monitor
Features that Matter
Vcheck RED provides cloud-based portfolio management across 100% of your third parties with corresponding data, document, and audit history. There is an audit trail for every compliance step, decision, and action taken—from onboarding to reporting.
✓ Configurable, digital onboarding questionnaires to fit your risk management needs and corporate compliance policies.
✓ Customized workflows to manage your entire third-party portfolio in a centralized location, which seamlessly integrates with EDD and investigation services.
✓ Robust reporting dashboards and metrics to help compliance departments evaluate and communicate key performance indicators.