UC Enters Strategic Partnership with Verified regarding DORA
A new collaboration between UC and GRC Watch by Verified aims to simplify and streamline DORA compliance and the management of ICT-related third-party risks within the financial sector. Through this solution, banks and financial institutions gain access to verified corporate data and a more structured, secure, and efficient process for statutory operational due diligence.
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UC was originally founded by banks with a clear purpose: to streamline and standardize credit decisions. Today, the financial industry faces a new administrative and regulatory challenge through DORA (Digital Operational Resilience Act) and increased requirements for managing third-party risks associated with ICT (Information and Communication Technology) providers.
Against this backdrop, UC is entering a strategic partnership with GRC Watch by Verified. The partnership aims to simplify and standardize operational due diligence and statutory ICT audits for banks and financial institutions.
GRC Watch is a platform that supports banks and other financial actors in operational due diligence and the management of ICT-related third-party risks. By providing a structured and shared process for information gathering, documentation, and vendor monitoring, GRC Watch simplifies statutory audits required by regulations such as DORA.
The platform enables more efficient and uniform vendor assessments by reducing manual tasks and duplicated data collection, while simultaneously strengthening the quality and traceability of risk assessments.
Through this collaboration, UC’s verified corporate information and strong position in the banking world are integrated with GRC Watch by Verified’s platform for operational risk management. Banks will now have access to UC’s verified company profiles directly within GRC Watch, featuring the exact information required to meet DORA requirements - structured, secure, and efficient.
"History is repeating itself. UC was created to bring order and standardization to lending, and now we are making the same journey within DORA and ICT risks. Through our collaboration with GRC Watch by Verified, we are helping the industry move from manual and fragmented processes to a common, efficient standard," says Carl Brynielsson, Interim Managing Director, Sweden at UC AB.
According to estimates, the solution can save between 30 and 60 manual labor hours per completed due diligence process. This reduces both the administrative burden and the risk of non-compliance while strengthening the overall quality of the audits.
The partnership marks a significant step toward a more unified and scalable management of third-party risks in an increasingly complex regulatory environment.
