Ncontracts | Risk and Vendor Management Blog
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Ncontracts risk and vendor management blog is a resource for banks, credit unions and other industries on news and information. We provide enterprise risk & vendor management software & services to make it easy for banks & credit unions to assess, monitor & mitigate risk.
Ncontracts | Risk and Vendor Management Blog
3d ago
You may think that artificial intelligence (AI) is a development your financial institution can worry about another day, but that’s a mistake. AI risk has already cost financial institutions millions – even at institutions that haven’tdirectly implemented AI technology ..read more
Ncontracts | Risk and Vendor Management Blog
6d ago
When it comes to vendor management, fintechs are in a category of their own. What’s the difference between fintechs and other vendors, and what goes into evaluating a fintech?  ..read more
Ncontracts | Risk and Vendor Management Blog
1w ago
Risk management methodologies have an acronym problem: there’s a lot of them and it’s not always clear what they mean. While academics and consultants debate the merits of GRC vs. ERM vs. IRM, it’s not always clear how these frameworks translate into functional risk management tools for financial institutions.   ..read more
Ncontracts | Risk and Vendor Management Blog
2w ago
Reports of the death of the Federal Financial Institutions Examination Council (FFIEC) Cybersecurity Assessment Tool (CAT) have been greatly exaggerated. Following the first major update to the National Institute of Standards and Technology (NIST) Cybersecurity Framework in February 2024, speculation turned to the future of CAT. Would the tool be updated as well? Would it be replaced ..read more
Ncontracts | Risk and Vendor Management Blog
3w ago
April showers bring May flowers – and a new CFPB interpretation of junk fees, a few enforcement actions, and several final rules.  ..read more
Ncontracts | Risk and Vendor Management Blog
3w ago
BaaS bankingfaces an unusual predicament. As regulators become more aggressive in issuing enforcement actions against fintech banks, the desire for these partnershipsremains strong. The rush to enter BaaS has slowedsomewhat following a spate ofregulatory actions in 2023 and 2024, but partner banking is still appealing to many financial institutions ..read more
Ncontracts | Risk and Vendor Management Blog
1M ago
Your board of directors is responsible for safety and soundness, growth, and increasing the profitability of your bank — all while serving the needs of your customers, employees, and community. Meeting these goals requires that the board of directors makes wise investments in capital projects, including adding or upgrading technology. In a world of finite resources, they want to see a return on investment (ROI ..read more
Ncontracts | Risk and Vendor Management Blog
1M ago
Risk management requires thoughtful and deliberate planning. What are the most significant risks facing your business? How do you plan to mitigate them? How will you know if your mitigation strategy is working?  ..read more
Ncontracts | Risk and Vendor Management Blog
1M ago
Financial institutions often ask for a list of universal critical vendors. They assume there must be a master list of industry-designated third parties that are always critical –and these financial institutions are inevitably disappointed ..read more
Ncontracts | Risk and Vendor Management Blog
1M ago
How much will it cost to implement Section 1071 of the Dodd-Frank Act? It depends on who you ask.  ..read more