Vendor risk management for financial services
Every transaction, payment, and customer interaction runs through vendors. VISO TRUST gives financial institutions continuous control and evidence.
Why third-party risk looks different in financial services
Tens of thousands of vendors per bank
Large banks routinely manage 20,000–50,000 vendor relationships, spanning cloud providers, processors, fintechs, and service bureaus.
Cloud now underpins core operations
Over half of workloads in financial services now run in the cloud – centralizing operational and security risk.
Third parties drive most incidents
Roughly a third of all data breaches in finance involve a third-party vendor component.
Breaches are expensive
The average cost of a data breach exceeds $6 million, excluding fines and reputation loss.
Manual programs can’t keep up
Many still track vendors in spreadsheets – leaving visibility gaps that worry both leadership and regulators.
The New Reality: Continuous Oversight
Your institution’s customer experience, payments, and digital channels are stitched together by vendors. Regulators have been explicit: outsourcing the function doesn’t outsource accountability.
Yet with lean TPRM teams, manual processes, and vendor sprawl, it’s impossible to maintain the visibility regulators now demand.
VISO TRUST closes that gap. Our AI-driven platform automates assessments, evidence collection, monitoring, and reporting so you can scale oversight – not workload.
Regulatory & framework coverage for financial services industry
Financial institutions must prove that third-party risk is governed with the same rigor as internal operations. VISO TRUST organizes vendor evidence and maps it to the frameworks and regulations that matter most.
Banking & regulatory guidance
Interagency Guidance on Third-Party Relationships
OCC regulations and related supervisory expectations
FFIEC Cybersecurity Assessment Tool (CAT)
FFIEC IT Examination Handbook
NYDFS 23 NYCRR 500
SEC cybersecurity incident reporting requirements
DORA and EBA Guidelines on Outsourcing Arrangements (for EU operations)
Privacy & data protection
Interagency Guidance on Third-Party Relationships
OCC regulations and related supervisory expectations
FFIEC Cybersecurity Assessment Tool (CAT)
FFIEC IT Examination Handbook
NYDFS 23 NYCRR 500
SEC cybersecurity incident reporting requirements
DORA and EBA Guidelines on Outsourcing Arrangements (for EU operations)
Security & control frameworks
AICPA SOC (including SOC 2)
ISO 27001/27002
NIST Cybersecurity Framework
NIST SP 800-53 and 800-30
PCI DSS (for payment environments)
VISO TRUST automatically maps vendor evidence – SOC reports, ISO certificates, PCI attestations, policies, and more – to each framework for defensible, audit-ready coverage.
The continuous TPRM loop for financial services
Modern financial TPRM isn’t a once-a-year exercise – it’s a continuous process. VISO TRUST operationalizes that loop with AI:
Without VISO TRUST vs. With VISO TRUST
| Without VISO TRUST | With VISO TRUST | |
|---|---|---|
| Vendor data | Scattered across departments | Centralized, continuously updated |
| Evidence collection | Manual emails and spreadsheets | Automated by AI Agent |
| Assessment speed | Weeks per vendor | Seconds with Instant Assessments |
| Monitoring | Point-in-time | Continuous breach/news correlation |
| Audit prep | Reactive and painful | On-demand reports and Smart Summaries |
| Team efficiency | 2 – 5 people chasing documents | Same team manages thousands confidently |
Use cases for financial services
Audit Readiness
Be exam-ready every day. Centralize assessments, evidence, and reporting across frameworks like DORA, FFIEC, NYDFS, GLBA, and PCI DSS.
Turn audit prep into audit proof.
Collecting Vendor Documents
AI Agent requests, validates, and renews SOC, PCI, ISO, and insurance artifacts – no inbox triage required.
All your vendor proofs. None of the inbox chaos
Continuous Vendor Monitoring
Correlate breach/news signals to your vendor catalog and generate instant Impact Reports for affected relationships.
Know when vendor risk becomes your risk
Lean Team Enablement
Small teams cover massive vendor portfolios with AI-driven workflows, assessments, and automation.
Run smarter, not bigger.
Evidence-First Assessments
Replace 300-question forms with artifact-based, AI-parsed assessments and short follow-up requests.
Replace busywork with better validation
Vendor Onboarding
Instantly assess new vendors with OSINT and evidence mapping to financial frameworks – accelerating approvals safely.
Turn vendor reviews from blocker to enabler
Value for every team that owns third‑party risk
CISOs and Heads of Security
End‑to‑end visibility into third‑party and fourth‑party exposure across critical banking, payments, and fintech stacks
Explainable AI Risk Assessments and Smart Summaries you can take directly to the board or risk committee
Confidence that continuous monitoring and impact analysis are running in the background, not just at annual review
TPRM / Vendor Risk Leaders
A single system of record for all vendor relationships, evidence, risk scores, and remediation
The VISO TRUST AI Agent removes manual vendor chase and renewals, so your team focuses on judgment, not inbox triage
Standardized workflows that align with Interagency Guidance on Third‑Party Relationships, FFIEC, and DORA expectations
Compliance and Internal Audit
Live framework mapping to GLBA, NYDFS 23 NYCRR 500, SOC, PCI DSS, ISO 27001, and more — ready to export to examiners
Immutable audit trails showing who approved what, when, and based on which evidence.
The ability to answer, “Show us your third‑party oversight program” with dashboards, reports, and underlying documentation in minutes
Procurement and Vendor Management
Integrated intake and risk steps so pre‑contract due diligence happens automatically, not as an afterthought
Clear, consistent risk summaries to inform negotiation, renewal, and exit decisions
Better vendor experience through concise, evidence‑based requests instead of bespoke questionnaires for every opportunity.
Business Lines and Product Owners
Faster, clearer answers to “Can we use this vendor?” with risk‑based decisions instead of unclear red/yellow/green
Transparency into which critical processes rely on which vendors – and how those vendors are being monitored
Confidence that regulatory and security requirements are handled without slowing delivery of new products and features
Integration-ready
Streamline and automate complex workflows and decision-making across your entire enterprise stack – seamlessly integrating with tools like Jira, Coupa, ServiceNow, Archer, Slack, Okta, and thousands more.
