Don't Let Third Party Financial Instability Impact Customer Experience

A third party’s product or service quality can be directly influenced by its financial condition. A thorough assessment of a third party’s financial condition is essential to ensuring operational success. Financial regulators’ guidance for managing third party risk cites financial stability as a significant risk factor that must be considered during third party selection. When the third party’s product or service impacts a company’s customer experience, regulators recommend third party financial stability be monitored throughout the relationship.

 

Hiperos 3PM Financial Viability

Hiperos 3PMTM Financial Viability enables companies to automatically collect and assess third party financial information and notify the appropriate person if further due diligence is required. The financial health of key third parties can also be continually monitored through our third party financial viability screening service.

Benefits

  • Know third party financial stability
  • Accelerate & simplify third party financial assessments
  • Respond quickly to changes in third party financial condition