Preliminary Market Engagement - Third-Party Risk Management (TPRM) Platform
Description: Development Bank of Wales is undertaking a Preliminary Market Engagement exercise to better understand the market for Third-Party Risk Management (TPRM) platforms. The purpose of this exercise is to engage with potential suppliers and gather information on available solutions, functionality, delivery and implementation approaches, integration capabilities and indicative commercial models. Development Bank of Wales is particularly interested in understanding the capabilities of solutions across third-party risk management and monitoring, including how platforms differentiate themselves from solutions focused primarily on cyber-risk monitoring. Suppliers are invited to provide information regarding their proposed solution and to indicate whether relevant functionality is available as standard, through configuration, integration or customisation, or is included within the supplier's product roadmap. Suppliers should also identify any relevant dependencies, limitations, additional modules, third-party data sources and (read more...)
Summary: Development Bank of Wales is exploring third-party risk management (TPRM) platforms to replace its existing supplier cyber-risk monitoring capability. The aim is to assess whether a broader platform could support Information Security, Risk, Compliance, Procurement and Operational Resilience. The service covers ongoing monitoring of suppliers’ internet-facing assets and cyber threats, supplier assessments and evidence, supplier inventory and risk tiering, cross-functional assurance, remediation workflows, reporting and integrations. The buyer also wants to understand potential capabilities for fourth-party visibility, concentration risk, financial health, AI and technology risk, reputational risk and supplier sustainability. The work is for use across the Development Bank of Wales; the stated delivery location is the United Kingdom. This is a market engagement to inform possible future requirements and procurement options, rather than a tender for a platform at this stage.