Mirato is a next-generation third-party risk management (TPRM) platform that orchestrates and automates the entire TPRM lifecycle, from initial assessment to continuous monitoring and beyond, to provide unprecedented real-time visibility into third-party risks—enabling banks to act quickly to mitigate them. Mirato’s AI-driven TPRM platform empowers financial institutions to identify, anticipate and manage third-party risk across the supply chain. Domain expertise is built into the system to assess third parties, concentration risk and fourth parties both directly and indirectly. Mirato easily integrates into existing TPRM programs and replaces many of the manual tasks with automated smart processes, creating efficiencies, saving money, and allowing subject matter experts to spend more time reducing risk rather than managing it.
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Mirato’s platform uses AI and natural language processing (NLP) to continuously collect information from risk managers, documents and machines while performing analysis and creating a feedback loop between data sources. The outcome is actionable insights for risk teams, which help to reduce operational costs and improve accuracy and corporate performance. Furthermore, the ability to orchestrate and automate all TPRM programs within the same platform provides financial institutions with visibility into their concentration risk and other risks that can be aggregated together.
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