Case Study: a leading bank digitizes third-party risk management in 17 weeks with Coupa Software

a leading bank digitizes 3rd-party risk management in 17 weeks with Coupa

A leading bank faced a significant challenge after receiving a Matter Requiring Attention (MRA) from auditors regarding its decentralized and inconsistent third-party risk management program. The bank's new Vendor Management Office needed to quickly replace its manual, spreadsheet-based processes with a dedicated solution and selected Coupa Software's Supplier and Risk Management service to address this.

Coupa implemented a purpose-built platform to fully digitize the bank's third-party risk management. The solution enabled direct collaboration with vendors, automated scoring, and provided consistent transparency. As a result, the bank went live in just 17 weeks and achieved a 70% reduction in manual work. The success with Coupa has led the bank's parent company to consider expanding the platform across the broader organization.