So You've Vetted Your Tech Vendor. Do it Again. And Again
It’s not enough to vet third-party technology providers when bringing them onboard because the due diligence evaluation should be ongoing, according to Ben Mathis, chief information officer at Carson Group.
ADVISOR ARMOR COVERAGE INCLUDES UNLIMITED THIRD PARTY CYBERSECURITY VETTING & MONITORING
Mathis says Carson has a questionnaire that it uses at the initial point of hiring the tech provider. Carson uses the questionnaire to classify the vendor based on the data its platform stores and transmits and its function within the business, according to Mathis.
“We get a baseline from them on their way in before we approve them as a vendor,” he said.