Banking & Financial Services US UK & Europe Australia & Pacific India # Vendor Risk Management for financial services Protect your supplier ecosystem with continuous third-party monitoring, streamlined vendor assessments, and time-saving compliance questionnaires for financial organizations. [Free trial](/demo) [Take a quick tour](/tour) Third party and supplier risk [Voted #1 on G2](https://www.g2.com/products/upguard/references/upguard-for-financial-services) Trusted by thousands of security teams across the globe ## Cyber attacks cost financial services an average of $5.9 million per breach and third parties are nearly always the point of entry. ## Cyber attacks cost Indian Banking and Financial Services Institutions (BFSI) an average of Rs. 19.5 crore per breach and third parties are nearly always the point of entry. In the last three years, more than a quarter of financial institutions suffered disruption, monetary loss, or reputational damage because of a third party. Without a proactive approach to third-party risk management, your organization could be in danger. Regulatory compliance ## Comply with financial regulatory obligations Questionnaire templates Simplify and strengthen compliance with framework-specific questionnaires and one-click reporting. * ### Industry-standard security frameworks Assess your vendors (as well as your own org) with UpGuard’s broad library of ready-made questionnaires. Choose a global financial service framework out of the box or edit a questionnaire for your specific needs. * ### Executive reporting Communicate compliance and risk status with instant reports tailored to assessors, executives, and other stakeholders. Select from a range of pre-built or custom templates that generate in seconds. * ### AI questionnaire completion Give your vendors the ability to complete questionnaires faster and more accurately. UpGuard’s Questionnaire AI reliably synthesizes your vendor’s previous responses and documentation into time-saving questionnaire answers. Third-party risks ## Mitigate cyber risk across your supplier ecosystem Vendor ratings Vendor risk matrix Safeguard your financial service’s data (and reputation) from cyber attacks by proactively monitoring, identifying, and remediating third and fourth-party risks as soon as they arise. * ### 24/7 risk monitoring Constantly scan your external attack surface and supply chain for vulnerabilities. Be notified the second a threat is detected and easily triage based on the severity and likelihood of exploitation. * ### Data leak detection Discover leaked credentials before they make the headlines. UpGuard combines in-house manual analysis with surface, deep, and dark web scanning to aggressively detect your stolen credentials. * ### Comprehensive security ratings Easily communicate risk and prioritize remediation with always up-to-date security ratings. Powered by daily asset scanning and formatted for clarity, UpGuard ratings lead the industry in quality and usability. Monitoring and risk assessment ## Identify and assess third-party cyber risk faster Vendor risk assessment Double vendor assessment speeds (and improve quality) by automating and streamlining your vendor risk workflows. * ### End-to-end workflows Save your team the hassle of chasing vendors and the lost time of double handling. UpGuard handles vendor requests and reminders for you and ensures all your vendor data is kept in a single, easy-to-navigate location. * ### Instant security ratings UpGuard scans and rates vendors faster (and more often) than any other solution. Scan new vendors in minutes and instantly rescan vendors after remediation work is complete. * ### Automated security questionnaires Get security questionnaires completed with 90% less manual labor. UpGuard combines industry-leading automation and a library of questionnaires to get vendor responses returned sooner and more reliably. Before, we needed an army. Now, we have an automated, scalable process that strengthens our regulatory stance, expands our coverage, reduces operational risk, and allows us to continuously improve our IT operation process. Chuck Adkins\ VP of Technology\ New York Stock Exchange / ICE If a vendor score drops below 600, we know there is a security issue with that vendor and we work with them to remediate that. Jim Hart\ CISO, Pollinate 33 Hours of manual testing eliminated 7+ Digital assets continuously monitored 70+ Unique risk vectors continuously monitored [Read the case study](/customers/pollinate) Thanks to UpGuard, 640 hours of manual testing were reduced to 30 minutes, getting the data center operational on time. 640+ Hours of manual testing eliminated $3m+ Estimated cost savings from reduced engineering effort [Read the case study](/customers/anz) Resources ## Recommended reading for a flying start Infographic ### [4 Ways to Reduce Third-Party Risk in Finance](/resources/4-ways-to-reduce-third-party-risk-in-finance) Learn a few critical statistics on third-party risks in finance and gain key insights and tips on how to reduce them. Download infographic Report ### [PCI DSS 4.0 Compliance Without the Headache](/resources/pci-compliance-without-the-headache) Understand the latest changes to PCI DSS, and learn how you can maintain compliance. Download report Blog ### [What is SOX Compliance? 2024 Requirements, Controls and More](/blog/sox-compliance) This is a complete overview of SOX Compliance. Learn how to ensure your organization is compliant with the SOX Act in this in-depth post. Read article eBook ### [Quick Guide to TPRM in the Financial Sector](/resources/quick-guide-to-tprm-in-the-financial-sector) Learn about common types of third-party risks in finance, key areas of cyber risk management, and cyber regulations for the financial industry. Download eBook Infographic ### [4 Ways to Reduce Third-Party Risk in Finance](/resources/4-ways-to-reduce-third-party-risk-in-finance) Learn a few critical statistics on third-party risks in finance and gain key insights and tips on how to reduce them. Download infographic Blog ### [APRA CPS 230: Compliance Guide for Australian Finance Entities](/blog/apra-cps-230-compliance-guide) Learn about the new requirements of CPS 230 and how to achieve compliance before it comes into effect on 1 July 2025. Read article Blog ### [How to Comply With CPS 234 (Updated for 2024)](/blog/cps-234-compliance) This is a complete overview of how to comply with Prudential Standard CPS 234. Learn about the key requirements and how to meet them in this in-depth post. Read article eBook ### [Quick Guide to TPRM in the Financial Sector](/resources/quick-guide-to-tprm-in-the-financial-sector) Learn about common types of third-party risks in finance, key areas of cyber risk management, and cyber regulations for the financial industry. Download eBook Infographic ### [4 Ways to Reduce Third-Party Risk in Finance](/resources/4-ways-to-reduce-third-party-risk-in-finance) Learn a few critical statistics on third-party risks in finance and gain key insights and tips on how to reduce them. Download infographic Blog ### [DORA Compliance Checklist](/blog/dora-compliance-checklist) Use this DORA compliance checklist to avoid rushing through last-minute compliance efforts. Read article Blog ### [What is the Payment Services Directive 2 (PSD2)? Complete Guide](/blog/what-is-psd2) Learn more about the cybersecurity challenges and compliance requirements of the Payment Services Directive 2 (PSD2). Read article eBook ### [Quick Guide to TPRM in the Financial Sector](/resources/quick-guide-to-tprm-in-the-financial-sector) Learn about common types of third-party risks in finance, key areas of cyber risk management, and cyber regulations for the financial industry. Download eBook Infographic ### [4 Ways to Reduce Third-Party Risk in Finance](/resources/4-ways-to-reduce-third-party-risk-in-finance) Learn a few critical statistics on third-party risks in finance and gain key insights and tips on how to reduce them. Download infographic Blog ### [An Overview of India’s Digital Personal Data Protection Act of 2023](/blog/dpdp-2023) Learn more about the compliance requirements of India's Digital Personal Data Protection Act of 2023 (DPDP). Read article Blog ### [TPRM Strategies for India's Digital Personal Data Protection Act](/blog/tprm-strategies-for-indias-dpdp) Learn how third-party risk management strategies can help your organization reach compliance with India's Digital Personal Data Protection Act. Read article eBook ### [Quick Guide to TPRM in the Financial Sector](/resources/quick-guide-to-tprm-in-the-financial-sector) Learn about common types of third-party risks in finance, key areas of cyber risk management, and cyber regulations for the financial industry. Download eBook Customers ## Financial services that rely on UpGuard Meet some of the 1,000+ companies using UpGuard to detect and manage vendor risk. #### [Intercontinental Exchange](/customers/ice-nyse) Intercontinental Exchange automated their IT change management processes with integrated vulnerability management. Read case study #### [CFA Institute](/customers/cfainstitute) CFA Institute used UpGuard's change detection and validation to reduce configuration drift by 57%. Read case study #### [Morningstar](/customers/morningstar) Morningstar uses UpGuard to optimize its vendor security assessment process and save time. Read case study #### [Pollinate](/customers/pollinate) Pollinate relies on UpGuard to continuously monitor their security posture as well as their vendors'. Read case study #### [Ideals](/customers/ideals) Ideals uses UpGuard to improve its security posture and create a culture of security awareness. Read case study #### [ALI Group](/customers/ali-group) ALI Group uses UpGuard to compare, manage and assess new third-party vendors. Read case study #### [ScotPac](/customers/scotpac) UpGuard is helping ScotPac bring consistency and uniformity to its vendor risk management processes. Read case study Experience superior visibility and a simpler approach to cyber risk management [Get a demo](/contact-sales) [Free trial](/demo)