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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