How to Respond When a Vendor Gets Hacked
A vendor data breach is a nightmare for any bank or credit union. From the financial cost to the bad press to the regulatory attention, data breaches pose
When Your Vendor Says ‘Your Data Was Breached—Six Months Ago.’
What’s worse than a vendor that suffers a data breach that exposes your sensitive customer information? The answer: A vendor that waits almost
How to Break Up with Your Vendor
There may be 50 ways to leave your lover, but when it comes to ending a relationship with a vendor there’s really just one path to follow...
5 Things Vendors Want You to Know Before You Buy
If you could get a peek into the minds of your vendors when you're considering a purchase, here's what you'd find. Check out what vendors want you to know.
Spreadsheets Aren’t Free: 5 Hidden Costs
The costs your institution will incur if it’s using spreadsheets to oversee risk management or compliance may not be obvious until it's too late.
Weak Vendor Management Trickles Down to Contracts
Third-party vendor management is all about managing risk. It’s an issue that regulators have been pressing for years, yet it seems that not every
Does Vendor Size Matter?
Some institutions try to simplify vendor management by picking the biggest vendor in each category. Going big, however, is not always the safest option.
Western Unions Pays $184 Million for Ignoring Vendor Due Diligence
After failing to conduct adequate due diligence on vendors, incl. background checks and on-site reviews, the $184MM fine may be its biggest transfer yet.
Cloudy with a Chance of Data Loss
Perhaps there’s no buzz word more confusing to bankers and credit union executives than the “cloud.” It evokes an ethereal image of data floating safely
What is Concentration Risk - And What Does My Regulator Have to Say About It?
When most bankers and credit union executives think of concentration risk, they think of lending—but concentration risk has a different meaning whentalking
Operational Risk - Foreseeing the Unforeseen Costs of Outsourcing
Operational risk is the risk of financial loss when processes, people or systems fail. It can hurt a financial institution in many ways, including these...
Credit Risk - You’ll Take the Blame If Your Vendor Doesn’t Have the Credit
See the definition of credit risk.
Your Vendor Shortlist is Not a State Secret
Keeping your vendor shortlist a secret may seem like a good idea, but protecting it only serves to limit your options as the buyer.
Four Ways to Ensure Your Vendors Are Prepared for Disaster
If you’re dependent on a third-party vendor that can’t quickly recover from a disaster, there’s a major gap in your own business continuity plan.
Black Friday, Card Creepers, and Aluminum; Oh My!
A glimmer of hope in this hackable world began to shine on October 1, 2015, when the issuance of EMV “chipped” credit cards became mandatory. These chips..