![]() If this discussion is reminiscent of childhood conversations with your parents, my apologies. Failure to identify and address inherent and/or developing third-party vendor risks could reduce revenue streams, cost your organization valuable time and resources, jeopardize the safety of your customers’ personal identifiable information, damage your organization’s public reputation and/or increase regulatory scrutiny. Whatever service a fintech partner provides, it is your responsibility to confirm that your fintech partner meets its contractual and service-level responsibilities throughout the life of the relationship. Ongoing due diligence may be an overused phrase, but it is essential to manage a fintech partner. One important due diligence aspect that’s often overlooked is the need to perform ongoing due diligence once a fintech partner is embedded in your organization.
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