Software

Jack Henry adds vendor management to product suite

June 1, 2022

Jack Henry & Associates Inc., a software-as-a-service provider for the financial industry, has added its Vendor Management Program into its Governance, Risk and Compliance suite. This service will help financial institutions to reduce risks when dealing with IT vendors, external service providers and other third parties, according to a press release.

The program will help FIs perform vendor risk assessments and due diligence reviews, analyze spending and coordinator with legal and compliance teams.

"Adding the Vendor Management tool also takes a weight off of our compliance and R&D initiatives," David Green, president and CEO at 1st Northern California Credit Union, said in the release. "It allows us to build our ecosystem with a variety of fintechs of choice without worrying about the paperwork and headache that these relationships would otherwise add. It aligns with our mission to help our members with the best financial support available."