Third Party Vendor Audits
Banks, NBFCs, and financial institutions rely heavily on third-party vendors for services such as loan processing, collections, IT support, outsourcing, and customer service. While outsourcing provides efficiency, it also introduces risks related to compliance, data security, service quality, and customer protection.
Third Party Vendor Audits provide independent assurance that outsourced service providers comply with contractual terms, regulatory requirements, and internal governance frameworks. They reduce operational, reputational, and regulatory risks for financial institutions.
About This Service
Our third-party vendor audit services help organizations manage outsourcing risks by independently reviewing vendor performance, compliance, and governance. We assess whether vendors adhere to RBI’s outsourcing guidelines, data security protocols, and agreed service level agreements (SLAs).
We conduct audits across vendor operations such as loan origination, collections, tele-calling, IT services, and support functions. This includes verification of documentation, adherence to KYC/AML standards, and monitoring of customer interactions.
Our audits also evaluate vendor risk management frameworks, disaster recovery readiness, and data privacy safeguards. We highlight gaps that could expose financial institutions to regulatory penalties or reputational damage.
Through independent vendor assurance, we help clients strengthen vendor oversight, improve contract governance, and ensure accountability across their outsourcing ecosystem.
Key Features / Scope of Work
- Independent audit of third-party vendor operations and processes.
- Verification of compliance with RBI outsourcing guidelines.
- Review of service delivery against SLAs and contractual terms.
- Assessment of vendor adherence to KYC/AML norms.
- Evaluation of data security, privacy, and customer confidentiality controls.
- Disaster recovery and business continuity readiness of vendors.
- Gap analysis and remediation recommendations for vendor management.
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