Third-party accreditation is a standardized vetting process that verifies a third-party provider's regulatory permissions, technical setup, and security posture once, against a standard the whole network recognizes – rather than every bank, building society, credit union, or aggregator re-running its own due diligence from scratch. Invela Accreditation evaluates providers across six control categories and returns one of two outcomes: Accredited or Not Accredited.
How the process works
- Application and evidence: A third-party provider submits its application and the supporting security and compliance evidence the standard requires.
- Evaluation: The provider is evaluated across six control categories, drawing on validated assessment work already recognized in the industry.
- Outcome: The provider is either accredited and visible in the network's registry of trusted participants, or not accredited, in which case it doesn't appear, and is given a list of items to rectify in order to achieve accreditation.
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.
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