3 Keys to Managing Vendor Risk in Financial Services | ServiceNow

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3 Keys to Managing Vendor Risk in Financial Services

Gain efficiencies and reduce risk exposure through automation

The largest banks and credit card companies can have close to 50,000 suppliers. And with security breaches on the rise, financial services organizations must look beyond their own systems and processes to scrutinize the risk profiles of their vendors.

What’s involved in vendor risk management? Simply stated, it’s instituting a standardized and transparent process to manage the lifecycle for risk assessments, due diligence, and risk response with your business partners and vendors. A deliberate, comprehensive approach to mapping risk exposures is essential for financial institutions looking to effectively allocate resources.

Download this ebook to learn more about the three must‑haves when evaluating vendor risk solutions.

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