Dell Services and Markit are teaming up to help financial institutions benefit from Dell Cloud Dedicated Service. Markit, a leading global financial information services company, just announced that it has selected Dell to power and support its new platform called Know Your Third Party (KY3P™).
Banks and financial institutions continue to increase the number and complexity of relationships with third parties, with increasing reliance on these parties to deliver business critical processes and services. In light of this, third-party oversight (TPO) is becoming increasingly complex, while global regulators are creating higher standards related to TPO.
To address this pressure, KY3P™ by Markit enables financial firms to simplify TPO processes by providing a centralized data hub for collecting and maintaining information on vendors.
Dell Cloud Dedicated Service, a hosted private cloud, will power the KY3P™ platform and will provide managed services for the infrastructure, applications and security for ongoing support. KY3P™ will be a SaaS offering powered by Dell, through the Dell Virtual Private Cloud platform and managed infrastructure and applications services. KY3P™ will be hosted within Dell’s data centers and will be compliant with industry best security practices and processes.
We at Dell Services are excited to bring Dell Cloud Dedicated to the financial services industry in such a big way. And this is just the beginning. There will be more to come in the area of data center transformation. Stay tuned for more news from Markit and Dell Services.