Episode 191: Vendor Due Diligence During the Pandemic

This week, Richard Blore, CEO of KY3P, a company of IHS Markit, joins Tony on the podcast. They talk about the challenges of vendor due diligence, particularly during this tumultuous time. Then, they discuss some of the broader trends firms need to address, including automation, cyber resilience, and the possibility of some fintech startups running into cash flow issues. 3:30 – Wei-Shen and Tony talk about how machine learning models have performed leading up to the pandemic (https://www.waterstechnology.com/trading-tools/7524721/covid-19-tumult-tests-ai-fund-returns), and how this time is testing ground for these models, and also for emerging technologies. 11:30 – Richard joins the podcast and gives an overview of his career and how he stumbled into the capital markets. Before joining IHS Markit in late 2019, he spent 10 years at Goldman Sachs, and before that, at Coca Cola, International Aero Engines, and Rolls Royce. 15: 30 – Then, he explains how KY3P’s Significant Event Notification and Tracking (SENT) capability works. 19:00 – Richard talks about how for the Covid-19 outbreak, KY3P identified and asked six questions relating to the pandemic. He discusses some of the common pain points firms have. 25:30 – Tony and Richard review some wider trends that firms need to address. Will automation projects receive more attention and investment? 30: 30 – What are the unique challenges that fintech startups face in light of cash flow constraints? 32:30 – They talk about how firms should pay greater attention to cybersecurity issues when it comes to vendor due diligence. 37:00 – Richard says firms will need to stay closer to their core vendors and better understand the full supply chain of the organization. 39:30 – Then, he previews some projects KY3P is currently developing.