Let VendorInsight® Perform Your On-Site Vendor Visits

Vendors are increasingly important for banks as they can perform consulting, process transactions, reduce costs and implement controls, all while directing your focus to core business functions and objectives. How many of your bank’s products depend on multiple vendors? How many of your vendors are managing your customers’ private data? For these reasons, regulators have been demanding that banks keep closer tabs on their relationships with third-party vendors.

Is Hiring a Vendor Manager Worth the Hassle? 

Whether managing risk in one department or throughout the enterprise, analyzing and selecting the best vendor at the right price, delivered in a timely fashion, is a critical part of the risk management process.

That’s where vendor managers come in. A vendor manager facilitates the relationship between their business and its vendors while meeting contractual obligations and compliance.