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Zip expands into the risk management market

Tuesday 1 April 2025 13:22 CET | News

Zip has launched its new Risk Orchestration suite, which was developed in order to bring the company’s orchestration capabilities to supplier risk management.

Following this announcement, Zip for Risk Orchestration will enable global enterprises to streamline supplier risk assessments, financial verification, and regulatory compliance. 

In addition, as organisations face multiple security vulnerabilities and compliance challenges, the product is expected to also provide businesses with the possibility to mitigate risks related to fraud, security breaches, and costly enforcement actions. 

Zip expands into the risk management market

More information on Zip’s Risk Orchestration suite launch

Around the world, regulations are fundamentally developing the manner in which companies manage supplier relationships, and the challenge has never been more urgent, as businesses have more suppliers than employees. At the same time, 98% of global organisations have a relationship with at least one third party that has been breached, which creates possibilities for financial, security, and compliance threats. Organisations in the region of EMEA face particularly stringent regulations, including DORA, GDPR, CSRD, ViDA, the EU AI Act, and the German Supply Chain Act, with GDPR fines alone reaching EUR 5.88 billion since implementation.

Through the process of implementing Zip to drive more spend under management, companies will be enabled to develop a foundation for improved supplier governance and risk oversight. This approach is expected to allow businesses to make more informed decisions about their supplier relationships while also strengthening the overall risk management posture. 

In addition, with Zip for Risk Orchestration, firms will have the possibility to move beyond reactive risk management to a proactive, AI-driven approach to compliance. The solution will provide businesses with vendor due diligence (in order to prevent financial fraud with automated bank account verification and tax ID validation to ensure that transactions go to legitimate entities), centralised risk repository (this will gain complete visibility into supplier risk with a single source of truth for compliance data, risk scores, and contracts), and automated approval workflows. 

Furthermore, it will also provide risk scoring and tiering (a feature which will prioritise oversight by automatically assigning risk levels to suppliers based on location, industry, and regulatory exposure), scheduled risk reviews (customers will be enabled to stay compliant with evolving regulations through regulator monitoring that surfaces red flags before they disrupt operations), and vendor autit and reporting (a feature which will easily generate audit packages and reports to meet regulatory requirements any time). 


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Keywords: product launch, expansion, risk management, fraud management
Categories: Fraud & Financial Crime
Companies: Zip
Countries: World
This article is part of category

Fraud & Financial Crime

Zip

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