2025 Third-Party Vendor Risk Management in the Financial Industry

This guidance discusses weaknesses in financial institutions' third-party vendor risk management programs and prescribes five core considerations—ongoing vendor due diligence, regular cyber risk assessments, strict regulatory compliance monitoring, clear contracts and SLAs with performance KPIs, and aligned business continuity/disaster recovery planning—to strengthen vendor security posture; it also references SecurityScorecard's third‑party risk management offerings.