Operational Risk - Foreseeing the Unforeseen Costs of Outsourcing
Operational risk is the risk of financial loss when processes, people or systems fail. It can hurt a financial institution in many ways, including these...
Credit Risk - You’ll Take the Blame If Your Vendor Doesn’t Have the Credit
See the definition of credit risk.
The Human Side of Vendor Management - What Vendor Management Can Learn From HR
Many financial institutions view vendors as a necessary evil, but extending a little trust to vendors goes a long way towards building a bridge to success.
Your Vendor Shortlist is Not a State Secret
Keeping your vendor shortlist a secret may seem like a good idea, but protecting it only serves to limit your options as the buyer.
Are Your Third-Party Vendors Protecting the Rights of Servicemembers?
America’s armed forces protect our country—and the financial services industry is supposed to do the same for servicemembers.
Preventing the Top 3 Vendor SLA Mistakes
one of the most effective tools in a financial institution’s vendor management arsenal, but too many institutions make major mistakes when crafting SLAs.
BSA Meets Vendor Management
How necessary is it to document your vendor selection process? If a new law in New York state is any indication, it’s becoming more and more important.
What is Vendor Management?
If you've ever wondered, what is vendor management exactly, we've broken it down to help you understand if vendor management is right for you.
When Third-Party Vendors Mean Quadruple the Risk
Financial institutions outsource to be efficient. Whether it’s offering competitive products and services or making good use of staff resources,
Four Ways to Ensure Your Vendors Are Prepared for Disaster
If you’re dependent on a third-party vendor that can’t quickly recover from a disaster, there’s a major gap in your own business continuity plan.
Black Friday, Card Creepers, and Aluminum; Oh My!
A glimmer of hope in this hackable world began to shine on October 1, 2015, when the issuance of EMV “chipped” credit cards became mandatory. These chips..
7 essential steps for successful vendor management
Check out these tips for successful vendor management. Vendor management best practices.
Have a Service Level Agreement (SLA) for Every Vendor
In the world of vendor management, there are very few things that can hurt your financial institution more than declining vendor financial performance.