Sarah's bank has 180 vendors. Core banking system, mobile banking app, card processor, fintech partners, IT managed services, cloud hosting, document shredding, appraisal management — it goes on. Three years ago, the examiner asked "who owns vendor management?" and nobody raised their hand. Sarah did.
She sends annual questionnaires, reviews SOC 2 reports, and keeps a spreadsheet. She knows it's not enough. But she's also handling BSA/AML, managing the next exam, updating policies, sitting in committee meetings. Vendor monitoring is the thing she knows she should be doing and physically cannot do at scale.
Sarah doesn't want another platform to log into. She wants to open her email Monday morning and know which vendors need attention, which ones are clean, and have a 12-month audit trail ready for the next exam.
