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Survey: 59% of Organizations Do Not Have Vendor Management Program in Place

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A survey of banking and mortgage professionals from Vendorly found three in five respondents (59 percent) said their organization does not have a fully comprehensive vendor management program in place.

The survey also noted of those respondents, one-third (33 percent) said their organization's vendor management program needs improvement.

The survey had 78 participants and was conducted between February and April. Respondents consisted of banking and mortgage professionals with one-third from mid-sized banks ($1-$3 billion-plus produced annually in origination volume) and the remaining respondents from small- to mid-sized banks (under $1 billion produced annually in origination volume).

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