Sayari and GAN Integrity's partnership will
help companies comply with emerging regulations, including the
Corporate Sustainability Due Diligence Directive (CSDDD)
WASHINGTON, April 29, 2024 /PRNewswire/ -- Sayari, the
leading counterparty and supply chain risk intelligence provider,
today announced a partnership with GAN Integrity, a leading
provider of real-time risk, ethics, and compliance management
technology. This partnership marks a significant move to combat
corruption and modern slavery in global supply chains, one of the
most pressing challenges faced by compliance and risk teams today.
The collaboration integrates Sayari's business risk intelligence
and ownership data with GAN Integrity's end-to-end third-party
management automation, delivering a joint solution for onboarding,
assessing, monitoring, and managing nth-party relationships.
Recent research indicates that 73% of chief compliance officers
(CCOs) expect increased focus on compliance due to expanding
regulatory scrutiny.* "Alongside anti-bribery and corruption (ABAC)
regulations that call for due diligence of entities, individuals,
and beneficial owners, a growing body of ESG regulations seek to
integrate sustainability, human rights, and environmental
considerations into business operations and governance. Emerging
rules like the EU Corporate Sustainability Reporting Directive
(CSRD), the CSDDD, Uyghur Forced Labor Prevention Act (UFLPA), and
S-211 require organizations to assess their upstream and downstream
supply chains more deeply and ensure their suppliers meet these
heightened standards. Non-compliance risks severe fines and
reputational damage," said Michael
Rasmussen, GRC Analyst and Pundit at GRC 20/20.
Leveraging Sayari's corporate and trade data on more than 640
million companies and 614 million people in more than 250
jurisdictions worldwide, the joint solution enables risk,
compliance, and procurement teams to conduct comprehensive,
in-depth evaluations of both upstream and downstream risk at a time
of increasing regulatory emphasis.
"Compliance expectations are extending beyond the 'four walls'
of the company and into the extended enterprise," said Benjamin Power, Sayari COO. "By integrating
Sayari's in-depth analysis of corporate ownership structures and
more than 2 billion pre-computed relationships and risk factors
into third-party screening and monitoring processes, our joint
solution with GAN Integrity enables compliance, risk, and
procurement teams to seamlessly assess an increasingly complex
network of suppliers, contractors, and subcontractors."
With the joint solution, teams can map beneficial ownership and
supply chain relationships, screen for risk — from forced labor to
political exposure — and implement workflows to identify, mitigate,
and monitor risks throughout the relationship lifecycle.
"Compliance teams have been grappling with how to meet these
heightened requirements, often without additional resources. The
answer is here: better data, with enhanced workflow automation, in
one comprehensive platform," said Nick
Manolis, GAN Integrity CEO. "Our integrated solution, which
combines superior data and workflow automation in one user-friendly
platform, empowers teams to succeed. By exposing corruption and
modern slavery in supply chains, we raise the ethical standards of
the global business ecosystem. This not only drives positive
business outcomes, but also fosters greater well-being for the
planet and its people, creating change for the better."
About Sayari
Sayari is the counterparty and
supply chain risk intelligence provider trusted by government
agencies, multinational corporations, and financial institutions.
Its intuitive platforms surface hidden risk through integrated
corporate ownership, supply chain, trade transaction and risk
intelligence data from more than 250 jurisdictions worldwide.
Sayari is headquartered in Washington, D.C., and its solutions are used
by thousands of frontline analysts in more than 35 countries. To
learn how Sayari powers safer global commerce, please visit
sayari.com.
About GAN Integrity
GAN Integrity helps global
organizations elevate business ethics everywhere. We work with the
world's smartest companies to help them manage risk, impact
behavior, and deliver long-term strategic value.
GAN Integrity enables enterprises to embed ethics in and around
their business by engaging everyone, from front-line workers to
third parties and stakeholders, on their journey towards ethical
business transformation. The Integrity Platform has built-in
flexibility to quickly adapt to changing regulatory requirements
combined with the ever-demanding ethical expectations of
employees.
*2023 KPMG Chief Ethics & Compliance Officer
Survey
Contact
sayari@ideal.pr
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