What is Continuous Vetting
Continuous vetting refers to the ongoing process of checking and verifying the identities and activities of entities (like people or organizations) to reduce risk. Instead of periodic checks, continuous vetting monitors entities in real time for any changes or suspicious activities. Watch the video below as Senzing CEO Jeff Jonas and Head of Sales Will Layton discuss how continuous vetting enables you to keep an eye on how risk or opportunity is changing in real time.
Continuous vetting is important because many organizations only evaluate risk when onboarding, and then, sometimes, periodically every year or more. This leaves them exposed to new threats and risk in the intervals between periodic re-evaluations. One way to reduce this risk is by automatically re-evaluating risk as new data is received.
Continuous Vetting Detects Risk in Real Time
Continuous vetting is especially important if you’re trying to catch clever bad actors, because you need to notice and immediately act on any relevant new data. A new piece of information could change your evaluation of an entity in an instant, whether that’s one of your employees, a vendor in your supply chain, a vehicle or whatever.
To perform continuous vetting, you need an entity resolution system that is truly real time. This means continuously ingesting, resolving, querying and self-correcting streaming data as it is received. Senzing® entity resolution enables you to add continuous vetting capabilities quickly and easily to better detect risk.
Edited Video Transcript
Timestamps
0:00 Introduction – What Is Continuous Vetting?
0:34 Why Continuous Vetting Is Important
0:50 Continuous Vetting for People, Companies and Their Hierarchies, Supply Chains, Vessels
1:12 Continuous Vetting for Supply Chains
1:34 Make Sense of Info as Fast as You Observe It
Will: We want to talk about continuous vetting. So, Jeff, let’s start off the simple way – what is continuous vetting?
Jeff: Today, organizations establish the risk for something and then they say yes or no. And then maybe never, or maybe once every five years, they look again and go, uh oh, it’s not green anymore, it’s red. Well, it didn’t just turn red when you looked five years later. Continuous vetting is keeping an eye on how risk or opportunity is changing in real time.
0:34 Why Continuous Vetting Is Important
Will: And why is this a big important step in this market to be able to do continuous vetting?
Jeff: When it comes to catching clever bad actors, you want to notice them earlier in time. You want to find them at the soonest moment in time that they’re catchable.
0:50 Continuous Vetting for People, Companies and Their Hierarchies, Supply Chains, Vessels
Will: So, it applies to vetting people, but does it stop there? Can you vet other entities, like companies and other things? Do you want to continuously vet everything that you can resolve?
Jeff: Yes, your supply chains, your people, people connected to companies, hierarchies of companies… So, you can vet people and companies, vessels and planes; you could even vet asteroids.
Will: With the case of supply chain, you’ve got a set of companies you’re doing business with, and then, all of a sudden, you get a bad piece of data? Say you get some data that is derogatory towards a company, maybe some adverse media or something. That’s a great example where maybe somebody needs to change how they’re doing business (Know Your Business KYB) based on the risk score of that supplier.
1:34 Make Sense of Information as Fast as You Observe It
Jeff: Indeed, what you want to be able to do is make sense of information as fast as you’re observing it. So, when your organization observes something, like when a new piece of data becomes available to it, you want to be able to determine if that new piece of information might change your mind about how you think about something, whether that’s one of your employees, a vendor in your supply chain, a vehicle or whatever.