Vendor management is risky business. Smart leaders use performance scorecards to keep the board informed.
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What Bank CEOs Should Tell Their Boards About Third-Party Vendor Risk

BY JOHN MEYER & KELLI SCHULTZ

The FDIC issued a consent order against Discover Bank last year for lacking oversight into third-party risk management and a compliance vendor management program. The time is past for all financial institution leaders to heed this message, take a hard look at their vendors and highlight concerns to their boards of directors. 

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MORE POSTS

Is a Zombie Core Eating Your Bank’s Brain?

BY STEVE WILDMAN

Being on a zombie core doesn’t have to end in an apocalypse, as long as you know how to manage the system – and the vendor.

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Who Owns Digital? Ugh, That’s the Problem for Bankers

BY JESSICA PINKSTON

The lack of ownership in driving digital transformation is a huge roadblock for financial institutions.

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Modernize or Optimize? That Is the Core System Question

BY ELIZABETH HOLLIS

There is immense pressure for financial institutions to generate tangible returns on technology investments, and core systems are a critical variable in supporting or hindering these returns.

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RESEARCH

Vendor Management: How Banks and Credit Unions Can Gain a Competitive Edge

Effective vendor management can deliver transformational benefits to financial institutions, including reduced expenses, controlled risk, increased agility and improved efficiency. Download this guide to learn how to reap the rewards of a successful vendor management program.

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The Boomer-ang Effect: Financial Institutions’ $1 Billion Opportunity in Senior Financial Management

COMMISSIONED BY REGO

This report reveals the true cost of the elder financial fraud epidemic and details the most common methods criminals used to steal over $38 billion in 2023 from Americans over age 60. From cryptocurrency scams and ransomware to identity theft and real estate schemes, senior citizens are now the most vulnerable population segment to financial fraud. 

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How to Raise Your Contract Negotiation IQ

This guide shows bank and credit union executives how to negotiate efficient, effective and cost-saving contracts and uncover high-performing financial opportunities in their vendor relationships.

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PODCASTS

WHAT'S GOING ON IN BANKING

What's Going On In Banking brings you the latest in banking, finance and fintech with insights and commentary from industry leaders. Host Ron Shevlin is the Chief Research Officer for Cornerstone Advisors, Forbes Contributor, and author of the "What's Going On In Banking" Annual Report...

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PLUGGED IN

Ep. 34: Banking Is Gonna Make You Sweat

Today on the show, host Steve Williams quizzes Al Dominick on the hottest topics discussed at the recent Association for Financial Technology Summit in Palm Springs. Among them: the Federal Reserve’s rate cut and what it could mean for regional banks, mounting regulatory fintech issues, holes in the talent pipeline, and whether branches are going extinct in the next two decades. Spoiler: They aren’t.

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FINTECH HUSTLE

The Future of Security in Fintech 

Host Sam Kilmer and co-host Mary Wisniewski chat with Parilee Wang (Alloy), Charles Potts (ICBA, BankTech Ventures) and Joe Cody (Q2) about the exciting world of fintech. They dive into what a typical day looks like for fintech pros, how banking and tech are blending, and why responsible innovation matters. They focus on the changing landscape of fraud and security, highlighting just how important consumer trust is for fintech solutions, exploring the many tools out there to fight fraud and emphasizing the balance between growth and risk. They also discuss how community banks are bouncing back from recent challenges and the fresh strategies they’re using to stand out in a crowded market.

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MONEY ISN'T EVERYTHING

Gen Z: How to Woo the Most Diverse Generation Yet 

While financial institutions across the country want to win over Gen Z, the demographic tends to mystify them. Katrin Kaurov, co-founder and CEO of Frich, is on a mission to help solve both challenges. Katrin talks to host Mary Wisniewski about Gen Z stereotypes, techniques that resonate with young adults and rethinking financial literacy. She also answers questions that came up during a summer Cornerstone-Frich webinar.

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ON THE ROAD

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Kansas Bankers Association Economic Outlook and Risk Management Conference

Nov. 6-7 | Manhattan, Kan.

Don't miss Practical Risk Management for Financial Institutions, an interactive session by John Meyer, Managing Director at Cornerstone Advisors. You'll leave with practical, effective methods and systems for establishing a successful enterprise risk management program. And, if you go, say hey to Jeff Rice in Cornerstone's booth in the exhibit hall. 

Learn More

 

2024 Ohio Bankers League Main Event

Nov. 13-15 | Columbus, Ohio

Russell Morse, associate consultant with Cornerstone Advisors, will present a session on Wealth & Trust. 

Learn More

 

Survivor! Vendor Management Edition

WEBINAR PLAYBACK

Poor vendor management has the potential to eat away at customers’ trust, the heart of banking relationships. Experts from Cornerstone Advisors show financial institution executives how effective vendor management can help their institutions reduce expenses, improve vendor performance, manage risk and ensure they pass their exams with flying colors.

Watch Now

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