Press Release: KYP Announces Strategic Partnership with..
Date: 09 December 2022
Author: FINTECH Circle
Salt Lake City & London – November, 8th , 2022 – KYP and RiskRecon, a Mastercard Company today announced they have entered into a global strategic partnership, combining KYP’s industry leading third- party continuous monitoring risk intelligence platform with RiskRecon’s world class real-time visibility of third-party partners’ cyber performance.
The KYP-RiskRecon partnership will give businesses confidence and peace of mind by providing deep insights, rich intelligence and real-time information to make informed decisions on risk, resulting in more profitable relationships.
The challenge nowadays is trust – do we know the partners and companies we work with?
Businesses need a better way to manage their real-time financial, cyber and reputational risk in an increasingly global, open and interconnected world. A more complete picture of partners is required so businesses can take proactive action on risks to protect their businesses.
This announcement follows KYP’s seed round closure, the hire of its CTO Andrei Iacob, the appointment of chairman David Parker and board member Luis Davila and the appointment of David Birch and Howard Hall to KYP’s advisory board.
“The KYP-RiskRecon strategic partnership is a powerful combination for KYP and our clients. Mastercard RiskRecon’s understanding of third-party partners’ cyber performance and the resulting intelligence, offers a unique understanding of a business’s third-party partner relationships. We believe this partnership with RiskRecon will offer our clients an industry leading risk intelligence platform,” said Alan Nagle, CEO of KYP.
“This partnership will allow us to deliver far more business data for our customers. KYP sees RiskRecon as essential in providing our customers a deeper understanding of their partners, for the power for action on risk”.
“We are thrilled to be partnering with KYP as we look forward to delivering holistic cyber risk insights to their customers. Together, we are excited to announce with this new partnership we are able to help countless organizations secure their third party risk across their vendor ecosystem.” said Rigo Van den Broeck, EVP Cyber Security Product Innovation, Mastercard.
About Alan Nagle
Alan is a technology entrepreneur with over 20 years of executive experience in the financial services space globally. Ex-Google and CCO of Cybertonica, a transactional AI machine learning risk platform. MSc in Honours Business Risk Management.
About Rigo Van den Broeck
Rigo Van den Broeck leads Cyber Security Product Innovation as part of Mastercard’s Cyber & Intelligence organization. He is responsible for managing the cyber products globally, including oversight over RiskRecon, a Mastercard company, and Safety Net.
He leads the development of new solutions and programs that provide our stakeholders with insights to mitigate cyber-attacks. Rigo has an extensive background in fraud and security, specifically in Europe, where he was previously responsible for Mastercard’s safety and security product strategy, developing go-to-market approaches, and spearheading product initiatives in areas such as fraud decisioning, complaint management and authentication (i.e. PSD2 compliance & EMV 3DS).
He is also instrumental in key acquisitions and joint ventures. Prior to Mastercard, Rigo held positions at KBC Bank with responsibilities across Europe. Rigo holds a Masters in Applied Economics, with a major in marketing, as well as degrees in Psychology and Education from Catholic University of Leuven.
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KYP is an abbreviation for Know Your Partner, Know Your Provider.
Doing business nowadays means one has to be prepared and proactive. The way we see it, the problem is trust – do we know the partners and companies we work with?
KYP was founded in London in February 2021 by entrepreneur Alan Nagle with that goal in mind.
At KYP, we understand a more accurate, up-to-date picture of the partners and businesses you have a professional relationship with is needed, so you can take action on risks and protect your business.
KYP is a real-time 3rd party risk intelligence platform that provides continuous monitoring, insights and alerts to deliver a complete picture of the partners, suppliers and companies your business relies upon. We ensure that a business’s financial and reputational risk in an increasingly open and interconnected world is protected and managed.
How do we do this?
We do this through continuous monitoring and alerts of third party companies by connecting to global trusted data sources with our unique Machine Learning and AI and delivered through a holistic analysis of:
- Adverse Media
- Credit Scores
- PEPs, Sanctions
- Cyber Risk
- Insolvency Checks
- Linking Graph Connectivity
- Behavioural biometrics
In a nutshell, KYP gives businesses confidence and peace of mind. We empower more profitable relationships by providing the information to make informed decisions on risk.
- Seamless Integration & Onboarding
- Actionable Risk Intelligence
- Continuous Monitoring & Alerts
- Risk Reduction
- Comprehensive Data Sources
- Cost Savings
- Always on – just like your business
RiskRecon, a Mastercard Company, enables you to achieve better risk outcomes for your enterprise and your digital supply chain. RiskRecon’s cybersecurity ratings and assessments make it easy for you to understand and act on your risks, delivering accurate, risk-prioritized action plans custom-tuned to match your risk priorities. Learn more about RiskRecon and request a demo at www.riskrecon.com.