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Is Know Your Third Party or Third Party Risk Management platform present for industries apart from BFSI?
I am aware of Know Your Third Party (KY3P) platform which is developed by a company named Markit with collaboration with leading banks. Hence, in this case, individual companies need not check suppliers for Risk. The portal updates the status of supplier across industry, which all the companies can refer.
Is this a completely advanced concept or there are similar concept/ suppliers in other industry as well?