Joseph Lau Joins Mirato as Director of Third-Party Risk Management
Banking Industry Veteran to Support Company’s Product Direction and Business Strategy as It Continues Expansion in U.S. Market
Tel Aviv, Israel — October 27, 2021 — Mirato, provider of the first AI-enabled third-party risk management (TPRM) intelligence platform, today announced that Joseph Lau has joined the firm as director of TPRM. Lau brings more than 20 years of industry experience to his new position working with the Mirato team to support customers in the areas of product and business development.
Lau has served in a variety of senior leadership roles in risk management and technology infrastructure over his career, most recently as vice president of third-party assessments at Santander Bank. Prior to joining Santander Bank, he was vice president of third-party assurance at Citizens Bank. Lau has also held various roles in information technology at H.C. Starck, Bayer Corporation and the Gillette Company. Lau earned a B.S. in business administration from Northeastern University.
Lau’s role is a new one at Mirato, and it represents another step in the company’s ongoing U.S. expansion. Earlier this year, Mirato opened an office in New York and appointed Eran Abramovitz U.S. sales director, and the company is actively working to enhance its technology and diversify its customer base in North America.
“As a former banking executive, Joseph brings a valuable perspective to Mirato, and his experience and expertise will help customers to better define their TPRM strategies and incorporate new technologies,” said Aki Eldar, Mirato co-founder and CEO. “His background will be an asset to us as we continue to prove our technology in the U.S.”
Mirato’s TPRM intelligence platform extracts data from questionnaires, evidence documents and external data sources (financial, cyber, ESG, AML, etc.) and turns it into actionable insights about an organization’s risk exposure to services, fourth parties, people, locations and other areas. Leveraging AI and natural language processing (NLP), Mirato enables banks to cut down due diligence labor costs and dramatically reduce the time of manual tasks associated with TPRM.
“I am excited to be joining the Mirato team as the company takes its technology to new levels,” said Lau. “Mirato’s platform is a game-changer for third-party risk management, with the potential to drive significant efficiency in banks’ TPRM programs. I look forward to helping the company realize the promise of its technology.”
Mirato elevates existing TPRM programs and tools by streamlining an entire operation’s data into one smart platform. Using natural language processing (NLP) and advanced artificial intelligence (AI), Mirato validates and enriches this data, turning it into actionable insights. What was previously multi-destination, manual-intensive labor is now replaced by the Mirato platform and is easily managed from one dashboard. This saves time and money while increasing an organization’s ability to mitigate risk in an ever-evolving risk landscape.
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