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Third party suppliers reduce assessment burden with trusight solutions

Third Party Suppliers

Reduce Assessment Burden

Drive efficiency, consistent expectations and higher quality in the supply chain.

TruSight simplifies third-party assessments by executing best-practice, standardized assessments once and making them available to many – reducing third-party workload while enhancing data quality, consistency and accuracy.

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Treating Third Parties as Valued Customers

Third parties are our most important customers, and we work closely with them to improve the way they share risk assessment data with their financial services customers. TruSight’s standardized, best-practice assessment methodology, developed and maintained with third-party feedback, drives overall efficiency, consistent expectations, higher quality, and puts the distribution of risk data into the hands of the third party for broader distribution.

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What We Provide

Third Party Suppliers

TruSight’s Standardized Approach Substantially Benefits Third Parties

Checkmark icon Reduced Effort
  • Complete assessments once and use across many financial institutions
  • Reduce duplicative requests for information and onsite validation
  • Focus time on risk management and remediation
Checkmark icon Consistent, Clear Expectations
  • Work with TruSight’s consistent best practices standard versus managing multiple standards
  • Improve quality, consistency and accuracy of information
  • Help drive standards and methodology
Checkmark icon Shorter Sales Cycle
  • Increase customer responsiveness and reduce onboarding delays
  • Increase trust and deepen customer relationships
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TruSight Overview

The New Industry Standard for Third-Party Risk

TruSight is the best practices third-party assessment service created by leading industry participants for the collective benefit of all financial institutions, their suppliers, partners and other third parties. As innovators of the Assessments-as-a-Service model, TruSight streamlines and simplifies third-party assessments by executing best practice assessments once and delivering to many over a secure, shared-services platform. TruSight was founded as an innovative industry utility by a consortium of leading financial services companies, including American Express, Bank of America, Bank of New York Mellon, JPMorgan Chase and Wells Fargo.

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svgImg Coronavirus Statement

Coronavirus Statement

Our highest priority at TruSight Solutions is to maintain health and safety, and we are closely monitoring the global situation regarding the spread of coronavirus (COVID-19.) At the same time, we remain steadfast in our commitment to deliver assessment products of the highest quality for our customers and assessed parties. In light of these dual goals, this statement addresses precautions and strategies that TruSight is implementing with respect to on-site assessments and the assessors who conduct these facility visits.

Assessors who have been assigned to conduct on-site assessments have attested that they have not traveled in the past 30 days to a country with a Level 2 or Level 3 designation from the U.S. Centers for Disease Control and Prevention. (A Level 2 alert is for enhanced precautions, and a Level 3 warning is to avoid non-essential travel.)

Upon request, each individual assigned assessor will confirm this assurance in writing via email.

Any assessor currently conducting an assessment in an affected country is bound by the country’s domestic regulations and will remain in that country as long as required.

Assessors have been instructed to escalate any personal travel concerns to their manager. Individual concerns will be respected and assignments adjusted accordingly.

For reasons of health and safety, there could be a delay in conducting an assessment and/or delivering a product where a country is prohibiting travel or otherwise inhibiting movement that is necessary for such assessment. In this event, we will inform impacted vendors and customers as soon as we become aware of the situation. We may also propose performing a remote assessment in lieu of an on-site assessment and making adjustments accordingly.

As the coronavirus situation quickly evolves, TruSight is closely following developments from the World Health Organization, U.S. Centers for Disease Control and Prevention, and other domestic and international bodies. If you have questions or concerns, please reach out directly to your TruSight contacts.

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