Intermediaries and aggregators sit in the middle of the open finance chain, accountable upward to the banks and credit unions that connect through them and largely blind downward to the providers they connect to in turn. A Third-Party Relationship Management (TPRM) tool built for this position needs to address both directions at once, not just the upward relationship.
What to check before choosing a TPRM tool
- Downward visibility, not just upward reporting: Confirm the tool monitors the providers connecting through you, not only the evidence you present to the banks above you.
- Continuous monitoring, not point-in-time vetting: Look for ongoing scoring that shows which specific factor is driving a provider's risk level, not just a one-time check run at onboarding.
- Portable evidence for repeated due diligence: Choose a tool that lets you prove trustworthiness once to every bank and credit union you connect to, rather than repeating the same evidence separately each time.
- A liability position you can defend: Confirm the tool gives you evidence you can point to if a bank audits you over a downstream provider's failure, rather than leaving you to absorb that pressure alone.
About Invela
Invela is the infrastructure layer that makes open finance trustworthy – accrediting who's in the network, monitoring risk in real time, and ensuring liability lands in the right place. Open finance, covered.
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