Case Study: a regional U.S. bank improves vendor risk management with Supply Wisdom

How Supply Wisdom Revolutionized Risk for a Regional U.S. Bank

a regional U.S. bank faced a significant challenge in efficiently monitoring its key vendors, particularly smaller private ones. This process demanded extensive manual effort from its small in-house risk team, which was overwhelmed and in need of an automated solution for vendor assessment and risk analysis. To address this, the bank turned to Supply Wisdom for its continuous monitoring and risk intelligence services.

Supply Wisdom implemented its solution to provide real-time risk monitoring and improve regulatory compliance. This allowed the bank to monitor all risk domains comprehensively, including smaller vendors. The results included significant time and cost savings through reduced manual labor, quantified by saved man-hours. The bank also enhanced its ability to rapidly onboard vendors and maintained excellent regulatory standing. Supply Wisdom's tool provided the actionable intelligence needed to achieve these measurable impacts.