We are not living in a world anymore where third-party risk management is bounded to cybersecurity only; in this progressing dynamic business landscape, various risks need to be evaluated to be lessened like compliance risks, operational risks, reputational risks, credit risks, and the list goes on. All these risks do not apply to all suppliers as it depends on the nature of the job.
Regarding financial institutions' context, third-party risk management plays a significant role in facilitating ma
