Financial services carries the heaviest third-party risk obligations of any sector, because regulators treat a firm's dependence on its suppliers as a question of operational resilience rather than procurement hygiene. The principle is consistent across jurisdictions: you can outsource the activity, but not the accountability for it.
In the EU, DORA has applied since January 2025, requiring a register of every ICT contractual arrangement, specified contract terms, concentration risk assessment and exit strategies — with direct oversight of critical ICT providers at European level. NIS2 reaches banking and financial market infrastructure as essential entities. In the UK, the FCA and PRA operational resilience rules require firms to identify important business services, set impact tolerances and test against them. In Australia, APRA CPS 230 does much the same for regulated entities. In the US, the 2023 interagency guidance from the Federal Reserve, FDIC and OCC sets expectations across the third-party relationship lifecycle — see our US financial services page.
What these regimes have in common is more demanding than any of them individually: they expect continuous knowledge of supplier posture, evidence that can be produced on request rather than assembled quarterly, and a credible answer to what happens when a critical provider fails — including concentration risk, where many firms depend on the same handful of providers.
Financial services TPRM teams are running the most regulated vendor stack in the market with the smallest headcount they've ever had. The gap closes one of two ways — more humans you can't hire, or a workforce you can't tire.
Three of The Agency's leads do the heavy lifting for FS — continuous compliance assessment, regulator-formatted reporting, and the outside-in monitoring that keeps DORA and NIS2 from being a quarterly fire drill.
DORA gap analysis on a rolling basis, not a quarterly slog. TARA continuously assesses every vendor's posture against the five DORA pillars, NIS2, ISO 27001, APRA CPS 230 — and assigns SLA-bound remediation when posture drifts.
Reports the regulator can read, generated from live data. VANCE composes DORA Article 28 packs, NIS2 incident reports, FCA outsourcing evidence and board-pack summaries — formatted for the body that's reading it.
Continuous monitoring across the entire vendor portfolio. REX tracks the time-series of every vendor's posture nightly — material change, new breaches and concentration risk surface in hours, not at the next audit.
Concrete differences in how DORA, NIS2 and the rest of the framework load actually get done — measured in hours of analyst time, not in compliance posters.
Article 28 packs and material-incident reports generate from current evidence — no quarter-end assembly, no last-minute panics.
See exposure to systemically important third parties across your portfolio. The DORA-driven question your board will ask, already answered.
DORA, NIS2, FCA, APRA — one evidence layer, multiple regulator-formatted outputs. You stop re-assembling the same pack four times.
REX surfaces breach signal and posture drift continuously. The 24-hour DORA notification window stops being a fire drill.
DORA reporting that used to take a quarter now takes a morning. VANCE produced our first board pack in under an hour.
The questions that come up in every conversation with a bank, insurer or asset manager.
Book a 30-minute call and we'll have NOVA, ARIA and REX produce a complete posture report on one of your live vendors inside 24 hours.