MACN and Marcura launch 3 Sea Diligence – a new third party risk management platform
The Maritime Anti-Corruption Network (MACN) and Marcura are pleased to announce the launch of a new third party risk management platform. The platform is envisioned to foster collaboration and leverage community features to save on cost, time and effort in managing third party risks.
The platform – 3 Sea Diligence – provides MACN members with access to third party due diligence and Know Your Counterparty (KYC) tools, enabling companies to implement comprehensive anti-corruption and anti-financial crime compliance programmes.
3 Sea Diligence offers a range of innovative features that harness the power of high-quality, governed counterparty master data and leverage standardised information on integrity risks in the maritime industry.
“We are excited to bring 3 Sea Diligence to the members and the maritime industry,” said Cecilia Müller Torbrand, MACN CEO. “Conducting checks and screening business partners and suppliers is often burdensome for the companies who are subject to these checks. The process often has to be repeated multiple times and offers few operational incentives for those who are subject to due diligence. With this platform we will link the process of conducting due diligence with capacity building. In this way we can improve the operating environment for the industry”.
Companies requesting due diligence reports will also benefit from the community focus of the 3 Sea Diligence platform, as the results of a report can be shared on the platform for use by members.
Jens Poulsen, Co-Founder and Marcura CEO, explains: “Encouraging collaboration between stakeholders is a key feature of 3 Sea Diligence. The same due diligence process doesn’t have to be done over and over again. The ability to share due diligence reports saves a lot of time and money and frees up resources that can be used to raise compliance standards across the shipping industry. We are happy to support MACN and proud to be a partner in this initiative as we are passionate about MACN’s mission and vision.
“We will concentrate on funding capacity-building through the platform along with MACN. As we link counterparty due diligence to raising the overall compliance standards in the maritime industry, risk mitigation will be even more effective. The system will assist suppliers who upload data to the platform so they can clearly show advances in their compliance journey to potential clients”.
The platform is featuring port agents, but the platform will shortly be expanded to cover other supplier groups relevant to the maritime industry.
MACN collaborated with MCaaS, a strategic unit of Marcura, to create 3 Sea Diligence.
3 Sea Diligence is now live at www.3seadiligence.com