Due Diligence and Ongoing Monitoring

This message was posted by a user wishing to remain anonymous

Currently, we have VISA included on our vendor list, but I am having so much trouble getting anyone there to provide any sort of due diligence documentation including a SOC.  They make it seem like I am the only bank asking for their due diligence documentation. 

• If you work with VISA (or Mastercard), do you consider them to be a vendor?  If not, why not?
• If you do consider them to be a vendor, have you had any issues getting them to provide a SOC report and any additional forms of due diligence?

Thanks in advance for any information you are willing to provided!

We do consider VISA and Mastercard to be vendors. I just reviewed due diligence documentation from Mastercard. They didn't provide it all at first, but when we made a request, they sent a package of over 20 documents, including SOC reports

------------------------------
Paul Kletchka | VP, Information Security Officer | Fahey Bank
p: 1-740-751-6940 | w: faheybank.bank
------------------------------