Growing Regulatory web for Financial Services

Financial Services is one of the most highly regulated industries and the requirements around third party risk management are plenty. The regulatory landscape of financial services companies is ever evolving. With state, national and international complexities, information security professionals have to stay on their toes. 

Financial services companies like Trustmark Companies are utilizing ThirdPartyTrust to comply with regulation at the state, federal and international level. With an easy to setup application and robust feature set, the information security team has simplified working with vendors to identify gaps in their information security programs and put remediation plans into place. Using ThirdPartyTrust they can assess more vendors and significantly shorten the time needed to spend on each assessment.

The number of financial services vendors in the ThirdPartyTrust network is growing everyday. The unique attribute about our solution is vendors manage their own security profiles and can share their profiles with other companies. Vendors get mileage out of their work and financial services companies can be assured they have up to date information when they assess a vendor.

A clear process of understanding risk, remediating gaps and holding third parties accountable to comply with regulation is a must.

Read more about about NY DFS 23 NYCRR 500 on our blog.