From vendor to value: risk management for digital banking solutions

A practical guide to safeguarding your institution while driving innovation

When financial institutions set out to evaluate a new digital banking platform, the search goes far beyond features and functionality, it’s also about trust, resilience, and long-term alignment. With increasing pressure from regulators and rising consumer expectations, it’s critical to ensure that every vendor relationship is not only innovative, but also secure, scalable, and compliant.

This risk mitigation guide offers a clear, actionable framework for financial institutions looking to assess and manage third- and fourth-party risk. Whether you’re just beginning vendor evaluations or fine-tuning your due diligence process, this resource will help you make decisions that support both innovation and institutional stability.

What’s inside

• Build and maintain a complete third-party vendor inventory
• Prioritize oversight with a risk-tiering model
• Apply right-sized controls and lifecycle management strategies
• Engage leadership and meet evolving regulatory expectations

Why it matters

Vendor partnerships can be a powerful catalyst for digital transformation, but without the right safeguards, they can introduce significant risk. The How to Mitigate Risk in Partnerships checklist helps financial institutions like yours move forward with confidence, ensuring that compliance, security, and strategic value go hand in hand.

This guide will help you:

• Reduce vendor-related operational and regulatory risk
• Strengthen your institution’s risk posture
• Maintain alignment with your digital strategy goals
• Build long-term partnerships that grow with you

Take control of your vendor risk strategy today.