How a U.S. Regional Bank Replaced Manual Risk Processes with Scalable Intelligence
Case Studies
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Introduction
A U.S. regional bank needed to modernize how it monitored third-party risk. In 2024, vendor security failures across the banking industry affected millions of customers, intensifying regulatory scrutiny on third-party risk management programs. The bank's existing approach wasn't keeping pace.
Risk intelligence processes were mostly manual. The team relied on Google alerts and time-consuming research that couldn't scale to cover their critical and high-priority suppliers effectively. They needed comprehensive visibility into supplier operations and dependencies that manual processes couldn't provide.
The Challenge: Manual Processes That Couldn't Scale
The bank's risk intelligence approach had fundamental limitations that prevented effective monitoring at scale.
The gaps:
Manual processes limited coverage. Risk intelligence relied heavily on Google alerts and manual research. This approach was time-consuming and couldn't provide comprehensive monitoring across the supplier portfolio.
No visibility into supplier locations or dependencies. The team lacked insight into where suppliers operated geographically or which nth parties those suppliers depended on, creating blind spots in their risk assessments.
Insufficient monitoring across risk domains. Manual processes couldn't effectively track multiple risk areas simultaneously for critical and high-priority suppliers.
The Solution: Automated, Continuous Monitoring
The bank replaced manual processes with Supply Wisdom's continuous monitoring platform.
Scalable automation
Supply Wisdom replaced Google alerts and manual research with automated, real-time risk intelligence. The platform monitored critical and high-priority suppliers without the time-consuming work that had limited the previous approach.
Visibility into locations and dependencies
The platform provided insight into where suppliers operated and which outside parties they depended on, giving the risk team a more complete picture than manual research could deliver.
Multi-domain coverage
Supply Wisdom monitored all important risk areas for the bank's critical and high-priority suppliers, delivering comprehensive coverage that manual processes couldn't match.
The Results: Scalable Intelligence, Better Coverage
Real-time, actionable intelligence
Automated monitoring and alerts helped the team address potential vulnerabilities across critical and high-priority suppliers as they emerged.
Comprehensive multi-domain coverage
The platform provided visibility across all important risk areas for the bank's supplier portfolio, eliminating the gaps that manual processes left.
Reliable platform delivery
Risk intelligence was captured, assessed, and delivered consistently, replacing the ad-hoc nature of manual research.
Manual processes and Google alerts can't provide the comprehensive, scalable monitoring that regulated industries require. Supply Wisdom gave this U.S. regional bank the automated intelligence platform needed to monitor critical suppliers effectively. The end result led to better coverage, faster response to emerging risks, and a risk management program that could scale with regulatory expectations. |
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