How a Global Fintech Automated Vendor Performance Monitoring and Cut Compliance Reporting Time by 95%

CASE STUDY

How a Global Fintech Automated Vendor Performance Monitoring and Cut Compliance Reporting Time by 95%

A global fintech company was drowning in manual compliance work, spending 2-3 weeks every quarter with 2 full-time team members dedicated to producing required supplier performance reports.

By implementing Clarative, they reduced reporting time by over 95% to just 2 hours with 1 person, transforming reactive box-checking into proactive risk management and gaining leadership confidence through automated, auditable data sources.

Note: Taylor is the Global Head of TPRM at a Fortune 50 fintech company. Their name and company details have been anonymized.

Background

As Global Head of Third-Party Risk Management (TPRM) at a Fortune 50 Fintech company, Taylor faced a clear challenge: manage an increasingly complex regulatory landscape while supporting growth. The role encompassed:

All third-party risk assessments
Customer trust initiatives, including responding to DDQs and RFPs
All regulatory programs including DORA, outsourcing, and global licensing requirements

The lean team structure, 3 core TPRM professionals operating a hub-and-spoke model with approximately 20 additional stakeholders globally, meant every efficiency gain mattered.

The Challenge: Manual Processes That Couldn't Scale

"The regulatory landscape has been increasing with a need for more active performance management of suppliers," Taylor explains. "We were pulling together this information internally with a lot of different stakeholders manually having to source data, confirm accuracy, and then report on these on a frequent basis."

The quarterly reporting process had become unsustainable:

3 weeks per quarter dedicated to preparing supplier performance reports
2 full-time team members consumed during reporting periods
20-30 internal stakeholders manually sourced for data across the organization
Output was manual and reactive, a time-consuming check-the-box exercise rather than genuine performance monitoring

"It really wasn't in the spirit or the intent of performance monitoring, but rather a little bit more of a check the box exercise, saying that we were doing it."

Beyond the time cost, this approach created fundamental problems. There was no visibility into supplier performance between reporting cycles. And data inconsistencies across multiple manual sources were a constant risk.

Why Clarative?

When evaluating vendor performance monitoring solutions, several factors made Clarative stand out.

An Easy Internal Business Case

"Clarative was a very interesting option because it was able to bridge our needs for performance monitoring and also have a steady source of data come in that we would otherwise need to track down from other data sources internally," Taylor explains.

The platform offered a vendor performance data source, one-click reporting for instant quarterly compliance reports, and real-time monitoring rather than point-in-time assessments. It also provided visibility into supplier performance for business owners.

Clarative's performance monitoring dashboard

"It was a much easier sell internally because it wasn't just pitching performance monitoring from a regulatory perspective, but rather also the angle that this could deliver value long term." By connecting regulatory requirements to tangible business outcomes, the investment justified itself beyond pure compliance.

Addressing Initial Concerns

Like any prudent risk professional, there was healthy skepticism at first: "The accuracy of the data was something that we were skeptical about and whether we could get deep enough to actually get accurate data."

A vendor's incident page, which displays detailed lists of relevant incidents along with the linked source for verification

Through validation testing, Taylor discovered that "for the data populations that we've pulled, we've been able to confirm that data with our internal sources, and they have the same values. And so we were able to quickly shed that skepticism."

Implementation & Results

Immediate Value

"The rollout was very quick. The Clarative team was able to get everything up and running for us in a very short period of time."

The team saw value from day one: "We were able to immediately see value, especially on the sourcing side, when there were a couple very public outages that occurred. We were able to immediately look to the Clarative tool to see that be reported and what the ultimate impact would be to the teams."

Quantifiable Time Savings

The transformation in reporting efficiency was dramatic.

"It's one person who can take an hour or two to pull the commentary together for our quarterly reports, where before, again, it was just taking weeks in order to compile that information."

The impact was a 95%+ time reduction in quarterly reporting: from 3 weeks with 2 dedicated staff to 1-2 hours with 1 person.

Process and Control Improvement

For leadership, the value extended beyond efficiency.

"We're always focused on process improvement, but I think Clarative also gave us the angle of control improvement because now we're able to point to the source of the data, be able to tie it back to how it's being calculated, where it's being calculated from, without having to chase an internal team or have to build a separate model in the background internally."

"Not only have we been able to pull together the information more quickly, but it's also been in a more durable way."

In a Nutshell

"I would say Clarative is worth it because the team has been able to enable our performance monitoring capabilities while also delivering hard value through time savings,” Taylor explains.

"Clarative enables teams to move from not just source-to-pay, but source-to-perform and really have deep insights into the supplier base throughout the entire relationship, instead of just at static points."

Beyond the immediate impact, Taylor notes the platform continues to deliver new value over time. "The Clarative team has also continued to evolve the product. So even without asking, we've been able to explore other more expansive use cases with Clarative. And so the value proposition continues to grow.”

Key Takeaways

For TPRM and procurement leaders facing similar challenges:

Manual compliance processes don't scale with regulatory expansion. Automation is essential.
Multi-stakeholder buy-in is easier when the solution addresses both compliance and business value.
Time-to-value matters. Fast implementation means teams can see value within days, not months.
Continuous monitoring beats point-in-time assessment. Move from reactive to proactive risk management.

This case study is based on an interview with a Global Head of Third-Party Risk Management at a leading fintech company. Names and identifying details have been anonymized to protect confidentiality.

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