Vendor Management, Partnering with Fintechs

As more fintechs emerge in the payments industry, FIs have the opportunity to expand their offerings by cultivating meaningful vendor partnerships. As with all third-party relationships, appropriate oversight and vendor management are crucial, as well as seamlessly passing fintech products through to consumers. Students will learn how to set appropriate expectations with your partnering fintechs around rules enforcement, requirements and responsibilities. We will also discuss regulator expectations when it comes to working with fintechs, as well as the key elements of FFIEC Guidance as it relates to vendor management.