Reimagining Financial Services Vendor Due Diligence
The industry has increased focus on vendor due diligence, putting significant pressure on financial institutions and vendors alike. The challenge comes into focus when we think about the macro implications.
This process adds extraordinary costs to both Financial Services Institutions and their vendors and is becoming increasingly less effective due to:
- Lack of vendor responsiveness
- Time expensive process
- Output is difficult to understand for decision makers
- Fragmented assessment processes across multiple risk domains
- Similar questions multiple times
- Repetitive due diligence cycles
In this whitepaper, Alex Golbin, Head of Assessments for KY3P at IHS Markit, provides recommendations on best practices to make the process better, faster and more cost effective.
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Download our complimentary Whitepaper to learn about recommended best practices for your firm's process.required fields