Report by Ncontracts

2025 Third-Party Risk Management Survey

9 FINDINGSPublished Apr 7, 2025
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Key Findings

49% of financial institutions experienced a vendor-related cyber incident in the past year.

Vendor riskCyber attackSecurity incidentFinancial institution

66% of financial institutions report feeling pressure to enhance their TPRM programs.

TPRM Financial institution

Nearly half of financial institutions cite auditors and regulators as primary drivers for enhancing TPRM programs.

TPRM AuditorsRegulatorsComplianceFinancial institution

Of the financial institutions who experienced a vendor-related cyber incident, 66% had recovery times under 60 days .

Vendor riskCyber attackSecurity incidentFinancial institutionRecovery

85% of financial institutions report moderate to high value from their TPRM programs.

TPRM Financial institution

Of the financial institutions who experienced a vendor-related cyber incident, 8% had recovery times more than 90 days .

Vendor riskCyber attackSecurity incidentFinancial institutionRecovery

Artificial intelligence ranks as the second-biggest TPRM risk heading into 2025 among financial institutions.

TPRM AIFinancial institution

Half of financial institutions surveyed oversee 300+ vendors.

Vendor riskFinancial institution

73% of financial institutions have two or fewer full-time employees managing vendor risk.

Vendor riskFinancial institution