The Evolution of Vendor Risk Monitoring

Learn 9 ways to strengthen your Vendor Risk Management Program.

 

We read it every day in the news headlines. Businesses that are being displaced and disrupted as the result of current economic conditions are re-writing the history of risk management within Financial Institutions (FIs). The need to manage vendor risk has necessarily expanded the definition of vendor management programs in a time of economic downturn and uncertainty. As banks adopt a wider and deeper definition of vendors, they are redefining what vendor criticality means as the marketplace invents new, systemic methods to enable and track key economic and market conditions.

 

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