IBM Corporation recently signed an agreement with Siam Commercial Bank, a Thailand-based financial services provider, to improve the security of countless digital transactions on its platform and to provide better service to its customers. This collaboration aims to capitalize on IBM’s key expertise in providing a secure, resilient enterprise platform for mission-critical apps and data on hybrid multi-cloud to mitigate risks and reduce fraudulent activity in financial transactions.
ProcessUnity, Inc. a U.S.-based software company released a statement announcing that Forrester has poisoned it as a leader in the Forrester Wave Third-Party Risk Management Platforms.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 4901
Published Date: May 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The growing need for efficient management of vendor ecosystems, increasing third-party providers in organizations, and demand for streamlined risk management processing are some of the major factors anticipated to drive the growth of the vendor risk management market.
The market is anticipated to attain a CAGR of 15% over the forecast period, i.e., 2023-2035.
The major players in the market are Genpact, MetricStream, SAI Global, IBM Corporation, Rapid Ratings International Inc., ProcessUnity, Inc., LogicManager, Inc., Aravo Solutions, Inc., and others.
The cloud segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.