The Evolution of Evaluating Third-Party Risk
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1970-1990
Verbal
Referred to as the Age fo Coffee Talk, this era depended on printed reference books, word of mouth and “coffee shop talk”. Conversations and rumors were the basis of referrals.
1990s & 2000s
Snapshot
Known as the Age of Disparate Credit Reports and Financial News, this era was defined by the dependence on companies like Experian, Equifax and Wall Street Journal, Bloomberg and Forbes.
2010 & Forward
Continuous
With technology came the digital age and the Age of Dynamic Hybrid Information where data could be captured, analyzed and delivered 24/7/365.
