CODUDE, short for Collaborative Due Diligence, is a name that encapsulates this function. In late 2016, this platform became the latest product to emerge from MYRIAD Group Technologies Limited. Conceived because the Company listened to the market, the new platform accommodated the Association for Financial Markets in Europe’s (AFME) new standardised Due Diligence Questionnaire.

CODUDE brings together different stakeholders in one electronic platform to deal with an institution’s Due Diligence needs. CODUDE is a ‘utility’ for the bilateral exchange of information in a secure and fully-auditable solution. Focused on the industry’s desire to standardise Due Diligence Questionnaires, CODUDE offers participants the opportunity to complete the AFME DDQ electronically in a manageable pre-loaded format.

Catering to the wider industry, CODUDE utilises the AFME Standard Due Diligence Questionnaire’, to which Network Management and Custody professionals have had considerable input, and users will thereforebe familiar with the system’s content. Its versatility lies in its ability to supportstandardised questionnaires and additional proprietary questions.

A single tool to control andexecute multiple questionnaires with multiple counterparties, simultaneously, it has the potential to deliver an economy of effort of up to 95%, allowing personnel to concentrate on higher-value projects.