Compliance, risk and audit are important components to safe and sound banking, but too often they’re thought of as cost centers that don’t play a major role in customer engagement. However, those so-called cost centers can help drive new business. Engaging those functions from the start can lead to better partnerships with fintech vendors and ultimately to a better experience for the customer, says Michelle Prohaska, chief risk and compliance officer at Nymbus.

In this video, she discusses:

• Vendor Selection
• Best Practices for Communication with Vendors
• Third-Party Risk Considerations