OPEN Third-Party Risk Exchange (OPEN3PRX™) is a global exchange that delivers reliable, trustworthy, and up-to-date risk intelligence
ENGAIZ, a North American technology startup with offices in Toronto and New York, announced an integration that strengthens its OPEN3PRX™ Risk Intelligence offering with access to Experian® North America’s powerful business information solutions. Experian’s international expertise and global risk data unlocks powerful insights and creates a comprehensive view of third-party vendor risk wherever their clients do business.
“Recent pandemic and global events have put tremendous stress on the first-line of defense in dealing with risk exposures related to third parties. Companies need a smart and easy way to access comprehensive risk intelligence on suppliers globally,” said Jai Chinnakonda, Founder & CEO of ENGAIZ. He further added, “OPEN3PRX™ can help organizations make smarter business decisions by gaining a deeper insight of your third-party vendors anywhere in the world.”
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Organizations can leverage OPEN3PRX™ to quickly complete vendor due diligence. The exchange analyzes 100+ data elements on third-party vendors or any business partners globally to generate smart risk insights. It covers a myriad of risks related to business legal structure, director or principal background, cybersecurity, financial stability, commercial risk, credit risk, bankruptcy, legal issues, sanctions, fraud, PEP, adverse media, country risk, and ESG.
“At Experian, we’re dedicated to helping businesses succeed. By combining the power of Experian’s data with ENGAIZ’s risk analytics, businesses can gain the insights they need to make better business decisions and mitigate risk,” said Hiq Lee, President of Business Information Services at Experian.
From providing risk intelligence, automated risk assessment, helping third parties improve their risk posture to promoting sustainable development goals, OPEN3PRX™ provides organizations with the most comprehensive third-party risk management solution.
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For a limited time, both enterprises and third parties will be able to join OPEN3PRX™ and access special discounts. ENGAIZ offers the following solutions.
– OPEN3PRX™ Risk Intelligence Report – Reliable and trustworthy vendor risk intelligence report.
– OPEN3PRX™ Risk Assessment – An intelligent automation and cost-effective risk assessment solution for any sized organization.
– OPEN3PRX™ Sustainability – Lack of focus on sustainability initiatives pose a number of risks and costs. NET ZERO goals cannot be achieved without engaging your third parties.
– Engage to Govern with i-TPGRM™ – Increase efficiency and effectiveness in governing your large managed service relationships through SMART relationship management.
