banking solutions
Manage 3rd Party Risks
Vendor relationships are key to effective financial institutions. Vendors touch every aspect of a bank’s operations. From IT outsourcing to office supplies, distinguishing safe from risky vendors is critical.
Regulations, like SOX and GLBA, as well as regulators, including FFIEC and the OCC, make vendor risk assessments and compliance mandatory, not just nice to have.
Vendormate consolidates the vendor requirements of purchasing, legal, operations, and IT into one seamless transparent portal.
From initial due diligence to ongoing monitoring, Vendormate’s unique approach creates a single source of truth—of the bank’s requirements and the vendor company’s credentials—to save you time and money.
For banks
- Access your data securely, 24/7
- Organize audit documentation in advance
- Monitor the financial health of your suppliers
- Be confident your vendors clear sanction lists
- Access vendor documents and contact information easily
- Verify credit ratings and business operations
For vendors and suppliers
- Give your buyers the information they need to choose you
- Know that customers see your most current documents
- Be aware of your customers’ changing policies
Vendormate VISION
Vendormate VISION delivers the custom data collection and monitoring you require. From supplier on-boarding to audit response, Vendormate VISION simplifies gathering and monitoring your essential vendor information.
Every bank operates differently. Minimum standards may not be enough for your bank, your brand, and your customers. Vendormate VISION presents your unique requirements to your select vendor community.
Monitor Business Operations
Avoid business interruptions with early warnings
- P&L and balance sheet data
- Trade lines and credit terms
- Insurance limits
- Liens
- Derogatory UCCs
- Account contacts
Compliance Policies and Documents
Stay current with FFIEC, OCC, and other regulatory requirements
- Codes of conduct
- SAS 70 Review documentation
- Security and Disaster Response procedures for your operations
- Diversity statements
