Track, Manage, and Monitor Vendor Risks with Predictive Analytics

Predict360 Vendor Risk Management (VRM) Software

Streamline Vendor Risk Management While Ensuring Accountability with Predict360

ABA Endorsed Solution for Risk and Compliance Management Software

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Customers Using Predict360's AI-Powered Solutions
First Hawaiian Bank
HomeTrust Bank
First Bankt Gateway
Park National Bank
Kearny Bank
Oriental Bank
HarborOne Bank
Home Loan Investment Bank
First Commonwealth Bank
Byline Bank
Republic Bank
Choice Bank
United Bank
Atlantic Community Bankers Bank
BHG Financial
First Foundation
Citizens Business Bank
QCR Holdings
Fulton Bank
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First National Bank

Track, Manage and Report on Vendor Risks

The Predict360 Vendor Risk Management (VRM) application enables financial organizations to track, manage, and report vendor risks associated with third parties under one platform. The solution includes vendor lifecycle management and keeps track of issues, performance, certifications, risks, metrics, and much more. Predict360 Vendor Risk Management Software provides a centralized data repository that collects information and documents about third parties using configurable checklists from onboarding to security assessments and due diligence to periodic supplier performance evaluations. Key capabilities include:

  • Automates workflow processes to collect information from employees and external vendors
  • Enables employees to add new vendors and complete associated vendor onboarding activities
  • Drives the workflow for review and approval of vendor information
  • Enables the categorization of the type and level of risk for each vendor or third-party
  • Automates ongoing controls and assessments to measure and manage vendor performance and compliance periodically
  • Enables employees to create, assign, track, and manage any action item or task related to vendor or third-party
  • Harnesses advanced business intelligence insights with Predict360’s embedded Tableau reporting engine
  • Available as an integrated module of the Predict360 risk and compliance intelligence solution platform or as a standalone system
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Vendor Risk Management Software

Advanced Vendor Risk Intelligence Powered by AI

Predict360 Vendor Risk Management (VRM) advanced third-party reporting and dashboard capabilities provide visibility into the risk and status of all vendors, enabling organizations to monitor vendors closely and quickly resolve vendor risk-related issues.

  • Track the performance of all third parties in one easy-to-use system
  • Store information on all vendor-related issues and problems
  • Generate vendor reports in PDF or MS Word that summarize vendor information, assessment results, risk ratings, etc.
  • Easily audit performance by viewing all historical vendor problems and issues in just a few clicks
  • Calculate vendor scores based on completion of multiple types of vendors assessments
  • Complete vendor life cycle management – from onboarding to service delivery
  • Measure risk based on Financial Health, Company Identity, Sanctions Status, Cyber Security risk and even ESG
  • Make OFAC checks, and track CFPB & BBB complaints
  • Detect ongoing issues through trends and patterns to determine vendor risks
  • Create and assign one-time or recurring tasks that can be managed by vendors or third-parties
  • Automate SIG questionnaire sending to vendors for periodic COI, SOC, and other due diligence reviews

Complimentary Datasheet

Predict360 Vendor Risk Management Software

Vendor Risk Management Software
Vendor Surveillance

Vendor Surveillance

Argos Risk’s optional AR Surveillance offers access to a continuous stream of data, which aids in addressing the following common questions:

  • Operational Risk: Does the vendor possess the stability required to be an integral part of your mission-critical operations?
  • Financial Risk: Does the vendor possess the financial resources necessary to fulfill the terms of your contractual agreement?
  • Legal Exposure: Is the vendor exposed to legal actions that could potentially impact your business relationship?
  • Cybersecurity Risk: Is the vendor maintaining a robust and secure online presence?
  • Reputational Risk: Is the vendor’s reputation in alignment with your organization’s values and goals?
  • Sanctions Risk: Is it legally permissible for your organization to engage in business with this entity?
  • Diversity Inclusion: Does the vendor meet the criteria for participation in your organization’s diversity and inclusion program?

AR Surveillance provides an extensive array of data and information, ongoing monitoring, risk-based scoring, and one of the industry’s most user-friendly interfaces. It is the dominant way to analyze, assess, and monitor the overall viability and health of your commercial third-party relationships and empowers your vendor management program to leverage real-time risk intelligence for making informed decisions.

Vendor Risk Management Software

Vendor Risk Management Challenges

Manual VRM programs cannot keep pace with an evolving third-party risk landscape and associated regulatory obligations. Using disparate software tools – such as email, spreadsheets, shared drives, ticketing systems, etc. – often creates barriers to effective vendor risk management.

The top challenges when using a manual approach to manage third-party risks are:

  • The role of vendor is critical, but financial organizations often have limited visibility into performance
  • Lack of document management can result in accidental non-compliance
  • Regulators are increasing requirements for the management of third-party compliance
  • Ensuring that the products and services provided by third-party service providers are safe and comply with applicable laws, regulations, and standards is difficult
  • Collecting all the information in spreadsheets and documents is an inefficient process
  • Third-party data is not available for trend analysis
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Vendor Risk Management Software

Predict360 VRM Automates the Third-Party Risk Management Lifecycle

The Predict360 Vendor Risk Management application enables risk and compliance departments to manage the entire third-party risk management lifecycle on a single platform. The features and workflows built within Predict360 VRM help with onboarding vendors, monitoring vendor performance and qualifications, and terminating the services from vendors while fulfilling all compliance requirements and mitigating the associated risks.

Predict360 VRM is a powerful vendor risk management solution available as an integrated module of the Predict360 risk and compliance intelligence platform or as a standalone system. However, when Predict360 VRM Software is deployed in integration with the Predict360 Risk and Compliance Intelligence suite, it can roll up all the third-party risk information so it can be reflected in the overall enterprise risk management framework.

Why Choose 360factors?

360factors empowers organizations to accelerate profitability, innovation, and productivity by predicting risks and streamlining compliance.

Complete GRC

Complete GRC

All the GRC tools you need integrated in one solution
Basic to Enterprise

Basic to Enterprise

From simple risk assessment to complete risk register and control testing
Speed & Execution

Speed & Execution

Insights into your risk program & control effectiveness
Fast Implementation

Fast Implementation

The cloud-based solution can be integrated within days
Flexible and Modular

Flexible and Modular

Pick the modules you need for your business
Easy to Use

Easy to Use

Automation and an intuitive interface ensure ease of use
Ready to Experience Predict360?

Let’s get started! Request a demo today.

Enterprise Risk and Compliance Management Software for Banks
What Customers Say About 360factors

Learn How 360factors Empowers Customers to Manage Their Risk and Compliance Programs with Ease.

We look forward to working with 360factors to advance our enterprise risk and compliance programs for the bank while increasing the products and services we offer to the community.

Mark Casel Chief Risk Officer

We selected Predict360 due to its ease of use, banking industry design, and endorsement by the American Banker’s Association.

Eric Sprink President & CEO

Predict360’s banking workflows, risk library content, and endorsement from the American Bankers Association are a great fit for our bank.

Julie Dahle EVP and Chief Risk Officer

Predict360’s out-of-the-box applications designed specifically for banks our size along with their banking content was a significant influence in our selection of 360factors.

John Dunne EVP Chief Risk Officer

As part of our initiative to expand our products and services, we wanted to enhance our enterprise risk and compliance management to support this growth. Predict360 will enable our team to meet these goals efficiently.

David Claussen Chief Risk Officer

360factors’ solutions, powered by artificial intelligence, enables our organization to adapt and respond effectively to the ever-changing regulatory compliance landscape.

Joanna Chancellor Business Support Manager

The powerful features combined with the easy implementation of the cloud solution made Predict360 a great fit for our organization.

Steve Parker Chief Executive Officer

We believe our collaboration with 360factors and the technology they bring supports our vision for the future.

Gina Anonuevo Chief Compliance Officer

Deploying Predict360 is another step by us towards becoming a more streamlined and efficient organization.

Crystal Barnes Regulatory Compliance Specialist

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