Automating open finance third-party risk management means replacing manual, institution-by-institution due diligence and periodic re-assessment with infrastructure that verifies, monitors, and routes liability continuously, across the whole network rather than one relationship at a time.
The automation framework
- Automate open finance chain mapping: Continuously discover and maintain a live picture of who is connected to whom across the network – the intermediaries, sub-processors, and third-party providers behind each relationship – rather than relying on each institution to map its own chain manually.
- Automate vetting: Replace repeated manual due diligence with shared Accreditation – verify a participant once, against a standard the network trusts, rather than re-vetting them at every connection.
- Automate monitoring: Replace scheduled re-checks with continuous scoring that surfaces a change in risk profile – a control lapse, an accreditation change, a data-handling shift – as it happens.
- Automate escalation: Route a meaningful score change into a defined remediation conversation automatically, rather than waiting for a human to notice it in a report.
- Automate liability routing: Build liability allocation into the infrastructure itself, so accountability follows the responsible participant instead of defaulting to whoever holds the customer relationship.
About Invela
Invela is the infrastructure layer that makes open finance trustworthy – accrediting who's in the network, monitoring risk in real time, and ensuring liability lands in the right place.
