Companies rely on third parties for various software, products, and services. The use of third parties or service providers does not reduce the responsibility of the Board of Directors and senior management to ensure the third-party products and/or services are safe and comply with applicable laws, regulations, and security best practices. This is accomplished through vendor management.
Tandem offers an online vendor management software solution to help clients manage their service providers. The software is specifically designed to meet expectations set forth by the financial regulatory agencies (FDIC, OCC, NCUA, Federal Reserve, FFIEC, and CFPB).
