The last thing you’d want is to partner with an entity that’s less than ethical, but how do you separate the good from the bad when your due diligence encounters challenges like these:

1. Lack of transparency: It can be difficult to access reliable information about an entity’s past track record, especially if they operate in countries with weak governance systems or non-transparent processes.
2. Cultural differences: Different countries and cultures may have different standards and expectations when it comes to business practices, which can make it challenging to accurately assess the risk of corruption and fraud.
3. Complex ownership structures: Many entities are connected through complex ownership structures and their ultimate beneficial owner (UBO) is often not known, which can make it difficult to identify potential risks or red flags related to fraud, corruption or sanctions violations.
4. Limited resources: Assessing counterparties for fraud risks can be resource-intensive, as it requires gathering and analysing a large amounts of information from many sources. This can be especially challenging for smaller organisations with limited resources.
5. Evolving risks: The landscape of corruption and fraud risks is constantly changing, which means that organisations need to be proactive in their risk assessment efforts to stay up-to-date and identify emerging threats.

Our proprietary Rubix Automated Risk Management & Monitoring System (Rubix ARMS™) is a next-generation plug-and-play platform designed to overcome these challenges to efficiently and cost-effectively identity, assess and monitor counterparty risk. Here is how Rubix ARMS™ overcomes the challenges in assessing counterparty risk:

1. Data integration: Rubix ARMS™ integrates data from various sources, such as public records, news articles, social media, and financial statements, to provide a more comprehensive view of your counterparty’s risk profile. This includes past involvement in fraud and corruption.
2. Risk scoring: Rubix ARMS™ uses risk analytics and deploys proprietary risk scoring algorithms to generate Rubix Risk Scores for your counterparties based on structured and unstructured data about the entity.
3. Continuous monitoring: The Rubix Early Warning System (EWS), which can be used as a standalone platform or integrated within the Rubix ARMS™ platform, continuously monitors counterparties for changes in risk profile, providing real-time alerts if a counterparty’s risk profile changes even slightly.
4. Risk Visualization and Reporting: The Rubix ARMS™ and EWS platforms are highly intuitive and easy to use, even for first-time users. They provide you with Risk Insights in colour-coded, easy-to-read dashboards. Rubix ARMS™ + EWS makes navigating risks as easy as travelling on the road! This makes risk reporting easier and facilitates quicker decision making to mitigate risks.

The Rubix ARMS™ + EWS platform is a must-have tool to help you assess, monitor and mitigate credit, fraud, supplier and compliance risks. Reach out to us on +91 22 4974 4274 or info@rubixds.com for more information on our risk management solutions.