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9/20/16 - Third-Party Risk Management – A Strategic Priority in Financial Innovation

Arrangements between banking firms and third parties, particularly financial-technology companies, have grown and deepened in recent years. Banking firms looking to offer innovative services, reach new customers, outsource costs, and react swiftly to market trends have made third parties a key element of their business plans.

As relationships between banking firms and third parties increasingly resemble strategic partnerships, regulators have raised their expectations for a banking firm’s third-party risk management practices. Please click “Read More” below to read a Sightlines InFocus by Yoko Otani, Julie L. Williams, and Rachel Anderika, “Third-Party Risk Management – A Strategic Priority in Financial Innovation,” which discusses risk and compliance practices that banking firms must adopt to meet regulatory expectations — and can help third parties develop successful relationships with banking firms.

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