Vendor Risk Assessment for Financial Businesses
The suppliers behind your operation, your software, processing, and data providers, can open the door to financial crime if they are weak. We assess your vendor risk so the suppliers you depend on do not undermine you across Canada.
The Risk Inside Your Supply Chain
Your operational suppliers sit deep inside your business. An IT provider, a processor, or a data handler with weak controls can expose you to financial crime, breaches, and outages you never see coming. We assess the vendors your operation runs on, so you understand the risk each supplier carries.
Due Diligence on Your Suppliers
A supplier with access to your systems or data is a risk vector, whether or not you think of them that way. We assess your operational vendors, software, processing, hosting, and data providers, looking at their controls, their financial crime exposure, and how a failure or breach on their side would land on you. That turns vendor oversight into a considered risk decision.
Assess Vendors
We assess the risk in each operational vendor you actually use.
System Access
We focus on vendors with real access to systems or data.
Critical Suppliers
We prioritise the critical suppliers your whole operation truly depends on.
Ongoing Oversight
We help you keep overseeing your vendor risk right over time.
Ready to Simplify Your Compliance?
Businesses We Support and Guide
We assess vendor risk for payment service providers, money services businesses, currency dealers, crypto businesses, and many of the other financial businesses that rely on operational suppliers under Canadian regulation.
We support banks with program design, oversight, & regulatory examination readiness.
We help credit unions meet obligations proportionate to their membership and scale.
We handle registration, renewals, reporting, & controls FINTRAC expects from you.
We cover Bank of Canada registration alongside your anti money laundering obligations.
We establish what your wallet activity triggers, then build only what applies.
We build compliance around what your product does, before volumes and questions arrive.
We register virtual currency dealers and build the reporting their activity demands.
We support financial institutions across registration, program build, and reporting duties.
Why Businesses Choose Our Assessment
Supplier Focus
We concentrate on operational suppliers, the software, processing, and data providers your business quietly depends on every day.
Access Aware
We weight vendors by the access they hold, so a supplier deep in your systems gets proper scrutiny.
Beyond Onboarding
We help you keep overseeing vendors, so a supplier that was sound at signing does not become a risk later.
Serving Businesses Across Canada
We support businesses right across the whole of Canada, from Toronto and Montreal to Vancouver and Calgary, and foreign businesses meeting their Canadian vendor risk duties wherever they are based.
Let's Talk About Your Compliance Needs
Schedule a Free Consultation
Whether you’re starting a new MSB or need ongoing AML support, our team responds within one business day.
Vendor Risk Questions
Clear answers to the questions businesses ask most about assessing the risk in their operational vendors and suppliers in Canada.
What is a vendor risk assessment?
It is the assessment of risk from your operational suppliers, software, processing, hosting, and data providers your business depends on.
Which vendors carry the most risk?
Usually those with access to your systems or data, or those a critical operation depends on, since their failure lands directly on you.
Does vendor risk include financial crime?
Yes. A weak vendor can be a financial crime and security exposure, not just an operational one, so both are assessed together.
Same as third party assessment?
They overlap. This focuses on operational suppliers, while third party assessment centres on agents, introducers, and correspondents you rely on.
Should vendors be reviewed regularly?
Yes. Vendors should be assessed before selection and reviewed over time, since a supplier’s risk can change well after signing.