By Adam Turner
Publication Date: 2025-12-02 18:30:00
“Every additional provider you have increases your third-party risk, which is quickly being recognized as a major focus for hackers to exploit,” says Kervin.
“If you minimize the spread of your providers, you reduce your potential risk.
“Another benefit of reducing spread is that it minimizes fragmentation of your organization’s data, which can have a significant impact on effective AI implementation.”
Elliot Colquhoun.
Finance leaders looking to build this kind of trust to future-proof their businesses should start by addressing the complexities of vendor proliferation, says Elliot Colquhoun, vice president of IT and security at global financial technology provider Airwallex.
There was a time when companies were on the hunt for the hottest individual player in every niche area of the fintech industry, but the industry’s view of the proliferation and consolidation of financial providers has changed significantly over the last five years, says Colquhoun.
“The pendulum has swung the other way, particularly in…
