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.

How we help
Understand each vendor’s risk

Leverage our framework to assign the proper risk level, allowing you to manage your vendors appropriately

Drive efficiency

Expedite your due diligence review by tapping into our experience in managing 20,000+ vendors

Track your progress

Access documentation for each vendor and run reports to see which vendors aren’t meeting your compliance requirements

opening It’s great to have confidence that the group that’s vetting your vendors has done their due diligence, and they’re really there to help you. closing

Jeff Ratanapool, Century Mortgage Company  

What we offer

Periodic audits on vendor controls

Business status validation

Insurance confirmation

Office of Foreign Assets Control (OFAC) check

Criminal records and bankruptcy search

Tax ID validation (W-9 review)

Consumer Financial Protection Bureau (CFPB) and Better Business Bureau (BBB) complaints check

Bank account verification

Regulatory Guidance

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.

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 Vendorly has been named as a 2018 HousingWire Tech100 Winner.

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