Nine Expectations for your next TSP Contract

As the FFIEC wades into the deep waters of dictating contract terms and due diligence requirements for Transaction Service Providers (TSP), keep in mind that these prescribed expectations are for TSPs and not the vast majority of your vendor base.

 

Transaction Service Providers (TSP) are those vendors that support customer accounts and transaction processing against those accounts, such as core providers, card solutions processors, wire transfer providers, mortgage subservicers, etc. Below is the checklist of regulatory expectations for your TSP relationship contracts, along with our thoughts as to where this will be easily obtained, or become testy at the negotiation table.

 

 

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