Case Study: a financial institution secures bank charter approval with evolv Consulting's SLM and CLM solution

Financial Institution reduces supplier onboarding time by 47% with evolv Consulting

The fintech firm, a financial institution, was experiencing significant growth that had outpaced its internal policies and infrastructure, putting its bank charter approval at risk. To address this, they engaged evolv Consulting for assistance in implementing a more robust supplier lifecycle management (SLM) and contract lifecycle management (CLM) tool to improve their third-party risk management (TPRM) processes.

evolv Consulting led the design, build, and implementation of the SLM and CLM tool while simultaneously helping to mature the client's policies and procedures. This solution successfully secured the institution's federal bank charter approval and significantly improved efficiency, reducing supplier onboarding time by 47% and contract execution processing time by 30%.

Financial Institution