Case Study: Large Personal and Business Banking Services Provider achieves risk-based third-party management and $400,000 annual savings with LogicManager

Achieving Risk-Based Third-Party Management in the Financial Industry

A regional bank headquartered in the southern United States with more than 255 branches and over $20 billion in assets faced rapid growth after two mergers that expanded its risk team from 12 to 150 people. Relying on disparate point solutions (Excel, SharePoint and an external TPRM tool) led to fractured data, heavy manual effort, incomplete audit trails and difficulty managing due diligence, onboarding, monitoring and reporting across hundreds of third parties.

The bank implemented LogicManager’s centralized third‑party risk management platform and advisory service to unify inventories, automate workflows and link vendors to fourth parties and SOC reports. The SaaS deployment was completed in weeks, improved cross‑unit communication and regulatory remediation, freed staff from data management to focus on critical IT and monitoring, and generated efficiency savings of more than $400,000 per year while increasing agility and strategic insight into third‑party risk.