Due diligence is essential for acquiring financial institutions. It’s the only way to truly understand the value of the institution being acquired—and avoid unseen risks. That includes vendor management. Failure to thoughtfully combine cultures and vendors can hurt your institution’s bottom line—not to mention cause regulatory missteps or adverse risks. This whitepaper will show you how tackle this herculean task and give you the tools to:
- Streamline and standardize your FI’s existing vendor management workflows to simplify post-merger activities
- Analyze whether audit processes and risk management oversight are aligned
- Evaluate which vendors to keep post-merger
- Find hidden costs within contract terms
- Engage regulators to ensure a satisfactory transition
If your institution is considering a merger or acquisition, this whitepaper will help lay the groundwork for an effective due diligence and implementation plan for vendor management.