article thumbnail

Ncontracts Acquires Third Party Risk Management Company Venminder

Finovate

Kentucky-based Venminder offers a SaaS platform for third-party risk management that helps more than 1,200 customers manage their vendor relationships– from onboarding to offboarding. “We are excited to join forces with Venminder,” said Michael Berman, Ncontracts Founder and CEO.

article thumbnail

Building a Comprehensive Third-Party Oversight Framework

Innovative Payments Association

In today's interconnected business landscape, companies often rely on third-party vendors, suppliers, and partners to help them operate efficiently and effectively. Due diligence is the initial step in evaluating and vetting potential third-party partners, but it is just the beginning.

article thumbnail

Transaction Laundering

Segpay

A payment processor that includes risk management, KYC/AML, and Customer Due Diligence services and robust fraud detection solutions in their value proposition helps merchants reduce costs and prevent the nightmare of accidentally becoming an aggregator for criminals.

article thumbnail

How to make compliance training engaging and audits impactful

Neopay

The key is to present the sample in a structured way that an external party unfamiliar with your processes can easily follow. For example, for a due diligence file, include: A copy of the application form or sign-up journey. Verification reports from third-party vendors. Screening results.

Audit 59
article thumbnail

OCC Issues Policy Guidance on Buy Now, Pay Later Lending

Global Fintech & Digital Assets

Third-Party Risk Banks furnishing BNPL loans may not have direct control over the activities of third-party vendors or merchants.

OCC 59
article thumbnail

SenseOn: Confronting Modern Cyber Risks in Financial Services

The Fintech Times

As organisations rely on third-party vendors for various services like cloud computing, payment processing or customer service, these external relationships can introduce vulnerabilities if proper oversight and due diligence aren’t conducted.

Risk 58
article thumbnail

The Uncharted Territory Of M&A Cyber Risks

PYMNTS

“Companies can’t afford to drop the ball on cyber risk, which is why conducting cyber risk due diligence has become an essential part of the M&A process,” wrote Deloitte in a separate report , which urges companies to develop a cybersecurity strategy prior to any merger.

Risk 65