Modernizing Vendor Risk Management In Financial Services
For financial services (FS) companies, contracting with suppliers has become a highly complicated process fraught with risk. FS companies are transferring increasingly large portions of their operations to outside suppliers. Regulators are focusing on the operational risk management associated with contracting with and managing suppliers on an ongoing basis.
It is possible to make the contracting process highly efficient and flexible, enabling better management of supplier risks, and to reduce costs at the same time.