KNOW YOUR THIRD PARTY® (KYTP)®

Third-Party Lifecycle Management

End-to-end client and partner lifecycle management.

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Better Third-Party Lifecycle Management Starts Here

Manage the entire third-party contract and relationship lifecycle, from onboarding to ongoing monitoring and termination.

COMPLIANCE BUILT BETTER™

Monitor and review clients and vendors across the duration of the business relationship. Systematic screening identifies potential fraud, corruption, KYC, AML, and other risks from relationships across customers, suppliers, businesses, and vendors for escalation and review.

Simplify Third Party Management. The day-to-day work of monitoring the client and vendor lifecycle becomes easier and more efficient with data capture, document management, screening and approvals on one platform.

Take a holistic view of third-party interactions. Due diligence and risk assessment focused on a single entity view across business relationships over time provides comprehensive data for better compliance decision making.

ONGOING KYC AND VENDOR REVIEW

The potential for third-party risk doesn't end when onboarding does.

Third-Party Lifecycle Management ensures that all stages of the customer and provider relationship are surveilled with due diligence, ongoing monitoring and performance measurement.

IDENTIFY AND MANAGE RED FLAGS

Continuously monitoring and assessment identifies areas of potential risk.

Case management, process automation, SLAs, dashboards, and escalations facilitate the effective management of identified issues.

STAY UP TO DATE WITH AUTOMATIC UPDATES

Third-Party Lifecycle Management monitors third parties for changed and updated information from data providers and automatically assesses the risk impact, with escalation to relevant teams for review and disposition.

Maintain compliance and operational resilience throughout the entire customer or vendor relationship

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Automate the complexity of managing third-party contracts and relationships.

Configure rules, forms, workflows, alerts and approvals to meet the firm's unique needs.

Integrate with firm systems

Third-Party Lifecycle Management integrates seamlessly with existing systems and automates the complexity of managing.

No IT help needed. KYTP is easy to configure whenever changes are needed.

The platform is designed to be easily customizable to fit the unique needs and policies of different organizations.

We help you better Know Your Third Party

MCO’s Third-Party Lifecycle Management solution is part of the Know Your Third Party compliance suite, an integrated solution that manages compliance risk across customer, supplier, business and vendor relationships.

Streamline KYC and Third-Party Risk Across the Customer and Vendor Lifecycle

With powerful screening, risk assessment and approval capabilities on one platform, MCO’s Third Party Lifecycle Management solution enables you to effectively understand and manage potential risk across customer and vendor business relationships, enabling compliance from onboarding all the way through to offboarding. Third-Party Lifecycle Management provides configurable workflows to automate tasks including data capture and case management, streamlining the management of third-party contracts and relationships and ensuring regulatory compliance and adherence to internal policy.

Frequently Asked Questions - FAQ’s

What due diligence and screening capabilities does MCO provide for third parties?

MCO provides third-party due diligence through data capture, document management, screening, and risk assessment on a single platform. It helps firms evaluate customers and vendors during onboarding and throughout the business relationship.

How does MCO help maintain compliance across customer, supplier, and vendor relationships?

MCO supports compliance by managing third-party relationships from onboarding through ongoing monitoring and offboarding. A centralized view of customer and vendor data helps firms make informed compliance decisions over time.

Can MCO automate third-party data collection, document management, and approval processes?

Yes. MCO offers configurable workflows that automate tasks such as data capture, document management, approvals, alerts, and case management. This helps streamline third-party lifecycle management and improve operational efficiency.

How does the platform support ongoing third-party risk monitoring and performance reviews?

MCO continuously monitors third parties with ongoing due diligence, performance measurement, and automatic updates from data providers. When changes affect risk levels, the platform can escalate them for review by the appropriate teams.

How does MCO integrate third-party risk management into broader compliance programs?

Third-Party Lifecycle Management is part of MCO's Know Your Third Party suite, which manages compliance risk across customer, supplier, business, and vendor relationships. By combining screening, risk assessment, and lifecycle management on one platform, it supports a more integrated compliance program.