Third Party Exit Strategies

Financial institutions rely on a large network of third parties (vendors, suppliers, service providers, contractors, etc.) for day-to-day operations and to deliver products and services to their clients. In doing so, they make significant efforts to mitigate their third-party risk by performing due diligence prior to contracting and by monitoring their suppliers’ performance against service level agreements (SLAs) during the relationship. Because they inevitably exit third-party relationsh…