Overview:

Your security posture isn’t limited to your own systems—it also depends on the vendors, contractors, and service providers you work with. A compromise at one of these partners can serve as a stepping stone for attackers to infiltrate your environment. These risks compound when vendors have access to sensitive data or direct integration with your systems.

Why Small Financial Firms Are Vulnerable:

Many small firms rely heavily on third-party services for functions like loan processing, payment systems, cloud storage, and IT support. However, vendor security standards vary widely, and without a structured vetting and review process, firms may unknowingly partner with providers that have weak security practices. In the eyes of regulators, you remain responsible for the security of your data, even if the breach originates from a vendor.

How MortgageMoat.com Helps:

We implement a complete vendor management process that includes initial due diligence before onboarding, contractual security requirements, and scheduled re-vetting of all existing vendors—at least annually. Our process includes reviewing vendor security certifications, incident history, and compliance posture, so you have documented proof of oversight for audits.