Financial Institution Shared Assessments Program offers one-stop evaluation of IT security controls of IT service providers. Program’s goal is to create consistent standards for use in evaluating the controls that outsourcing vendors use to protect sensitive data. Program was championed by BITS, Bank of America, Citigroup, JPMorgan Chase, U.S. Bancorp and Wells Fargo. The timing for this program couldn’t be better, as both FDIC and NCUA have announced that vendor management will be a major concern in regulatory exams this year.”]
Source: https://www.cuinfosecurity.com/this-vendor-managements-silver-bullet-a-720