A conflict can appear anywhere in the legal business, and an unmitigated conflict can cause problems down the line. One area of conflicts that is growing is with corporate family trees. In a global world with a large number of mergers and acquisition, businesses are increasingly networked, and corporate family tree structures grow in complexity.
Firms typically address this with manual processes that leverage tools like the Dun and Bradstreet FTP tool. This tool, offered by industry leader D&B, enables firms to conduct manual searches for corporate tree structures.
This process works, and firms rely on D&B for the most extensive commercial database in the industry. But there are limitations.
It’s time-consuming. The manual nature of the work makes it easy to miss some conflicts. But the biggest pain point of all is this: D&B has announced that they are ending the use of their FTP tool. Firms that are reliant on the data that FTP provides will be forced to find a new way forward.
Luckily, an existing D&B integration with Intapp can solve all those problems.
For years, Intapp has partnered with D&B to provide integrated data in Intapp Risk & Compliance, which includes Intapp Conflicts. That integration can now replace firms’ use of FTP.
Why is this a strong move? Because the native integration to D&B from Intapp Conflicts enables risk teams to quickly identify corporate tree structures to determine if there is a risk. This turn-key integration accelerates the new business acceptance process while also operationalizing corporate tree searches.
Since D&B has 30,000 data sources, 3 million corporate family trees, and more than 280 million company records, firms know they are getting the best information to understand their clients and corresponding risk.
And risk monitoring doesn’t end with new business acceptance. Intapp Risk & Compliance monitors clients even after new business is onboarded, so corporate family tree structures are tracked and updated for the life of the engagement. This helps firms to stay ahead of risk as it appears.
Intapp customers are vocal in their support of this integration. The benefits are obvious:
- It’s easy to deploy and no extra services are required, and Intapp provides the support.
- The integration and content search are licensed directly from Intapp.
- Having one vendor simplifies the life of the risk and IT professional.
- Finally, unlike the use of D&B’s FTP, Intapp’s integration with D&B offers unlimited transactions and searches, which keeps firms’ operating costs down.
The industry trend we see is for firms to rely more on these types of searches, and to move to a risk scoring model that a search such as this requires. The time is now to make a move. If you are currently using D&B FTP, and are trying to figure out how to move forward, Intapp makes a natural partner. Want to learn more? Please contact us at
https://www.intapp.com/contact-us/