Jack Henry launches new automated threat evaluation program
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Jack Henry launches new automated threat evaluation program

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Core supplier Jack Henry is providing a approach to make sure monetary establishments can choose distributors that align with their required ranges of threat and compliance. 

Jack Henry launches new automated risk assessment program
© Can Inventory Picture / artursz

The Vendor Administration Program integrates into Jack Henry’s Governance, Danger and Compliance (GRC) Suite, and runs an automatic threat evaluation on banks’ exterior service suppliers, IT distributors and associated third events, in accordance with a current launch.  

“In case you’re entrusting your information to a 3rd get together, that third get together has received to have the identical safety controls in place as what you’d count on your individual establishment to have in place,” Amber Dolan, governance, threat and compliance senior supervisor at Jack Henry, informed Financial institution Automation Information. 

The brand new GRC program considers metrics similar to utilization and spending, the significance of the seller’s property, and the seller’s pre-existing threat stage. It additionally seems on the data the seller would possibly entry and the danger which will come from pairing it with a monetary establishment. 

This system helps prospects navigate the information produced through the threat evaluation of distributors, Dolan mentioned. It centralizes the knowledge, a development in banking that appeals to govt board members, she famous.  

Beforehand, banks managed distributors in unbiased silos, which created points when completely different financial institution departments sought a 3rd get together for a particular perform with out contemplating the danger that may create for the entire establishment. It’s a paradigm shift that appeals to govt board members, in accordance with Dolan.  

“Earlier than, there wasn’t that one centralized view of threat,” Dolan mentioned. “That is giving them a extremely big-picture view of their management atmosphere with dangers, management findings and compliance-related data multi function place.” 

Financial institution Automation Summit Fall 2022, happening Sept. 19-20 in Seattle, is a vital occasion on automation and automation expertise in banking. Study extra and register for Financial institution Automation Summit Fall 2022.



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