Each third-party relationship your bank has involves a different level of risk. Since it's inefficient and ineffective to treat them all the same, you need to do due diligence based on the level of risk. In order to implement this, your bank needs to define the types, amounts, and frequencies of due diligence based on each level of risk. Download this infographic and matrix to learn how to do risk-based due diligence on third parties, steps involved in the process, due diligence examples based on third party risk levels, and a matrix of due diligence frequency guidelines.