Whether it’s a data breach or a halt in day-to-day operations, your vendors could put your company at risk and harm your reputation. Vetting your vendors is a critical step in protecting your business and requires ongoing attention as you consider new vendors or renegotiate contracts. Our risk-tiering methodology helps you assign each vendor a risk score so that you can identify the level of due diligence needed to mitigate each vendor’s inherent risk.
Leverage our framework to assign the proper risk level, allowing you to manage your vendors appropriately
Expedite your due diligence review by tapping into our experience in managing 20,000+ vendors
Access documentation for each vendor and run reports to see which vendors aren’t meeting your compliance requirements
The CFPB recommends that financial institutions take steps to ensure that business arrangements with service providers do not present unwarranted risks to the consumer, which includes conducting thorough due diligence. The Office of the Comptroller of the Currency states that an effective risk management process includes proper due diligence in selecting a third party. Learn more here.