Finosec has been selected to be a part of the ICBA ThinkTECH Accelerator! The Accelerator is a 12-week program that allows community banks to engage with startup financial technology companies. This enables participants to engage with and learn more about innovative solutions. Meetings are facilitated by the Venture Center and participating community banks. To learn more about the program and sign up to take part in this first-of-its-kind opportunity click here.
The Critical Link Between Third-Party Risk Management (TPRM) and Access Management
As highlighted in a recent article from the Federal Reserve, managing third-party relationships and the access associated with those relationships is a critical component of Third-Party Risk Management (TPRM). The associated access third party vendors have to banking systems is known as Access Management and is foundational for mitigating risks associated with third-party relationships. Access Management may be easy to overlook because it does not always reside with the same person or team as TPRM; making it difficult to provide critical oversight.
With increased regulatory focus, how should institutions be thinking of Access Management? Here are five steps your institution can take today to strengthen your third-party governance.
