Third-party guidance spurs US bank rethink on fintech partners

For conventional vendors, banks say due diligence rules will be the toughest challenge

Fintech risk
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Bankers in the US are warning that final interagency guidance on third-party risk management could force them to rethink their efforts at partnering with fintech firms – one of the ways in which they currently try to foster innovation in the discipline.

“We are a bit complacent in dealing with risks from fintech because we always think of them as small players,” says the head of third-party risk management at one global bank. “We overlook the fact that they can become integral to our

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