Why Vendor Consolidation Is About More Than Just Cost Savings For Banks
As business models in financial services grow increasingly complex, banks rely more and more on third-party vendors for their internal processes. Today, a multinational bank might partner with thousands of unique vendors to support its various lines of business. Q4 2021 hedge fund letters, conferences and more But while reliable third-party vendors for banks are critical to success, the procurement process isn’t simple or cheap. After issuing an RFI or RFP, procurement teams typically spend months poring over proposals, participating in product demos, reviewing security features, negotiating w...