Vendorly, which launched in the spring of 2016, provides financial institutions with tech-based vendor management processes. The company offers an external-facing, SaaS-based oversight platform that is designed to help financial institutions manage their vendors and meet regulators’ dynamic vendor oversight guidelines. The company’s platform helps manage vendor risk by streamlining vendor due diligence, document maintenance, and ongoing monitoring across all vendor types involved in mortgage origination and servicing processes.
Vendorly offers managed vendor oversight services, including due diligence, document management, annual assessments, information security assessments, financial condition reviews and on-site audits. In addition to the software platform and operational support, Vendorly also offers integrations with third-parties to give its clients access to an array of due diligence resources.