{
  "id": 2019525,
  "title": "Reusable FinTech Certification Could Streamline Bank Due Diligence",
  "url": "https://urgent.news/2026/08/19/reusable-fintech-certification-could-streamline-bank-due-diligence",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T21:18:53.000Z",
  "source": {
    "name": "PYMNTS",
    "slug": "pymnts",
    "url": "https://www.pymnts.com/legal/bank-regulation/2026/reusable-fintech-certification-could-streamline-bank-due-diligence/"
  },
  "original_language": "en",
  "account": "Repetitive due diligence on technology providers by banks could be streamlined through an industry-standards effort involving regulators. The draft term sheet outlines a framework for a voluntary public-private Banking Innovation Standards Development Organization (BISDO) coupled with a certification program called Risk-Assessed, Manageable Partnerships (RAMP). This framework aims to standardize portions of third-party risk management, allowing the same information to be assessed once and reused by multiple banks. The Federal Deposit Insurance Corporation (FDIC) proposal could have implications for the range of FinTech providers banks are willing to evaluate, especially as FinTechs expand their relationships with smaller financial institutions, such as credit unions. In fact, 48% of FinTechs partnering with credit unions last year, compared to 40.3% in November 2024. The BISDO framework could affect competition among technology providers, as established vendors already have relationships, documentation, and experience responding to bank risk reviews, while prospective providers would need to meet those requirements before their products can be evaluated alongside incumbents.",
  "summary": "Banks repeatedly perform similar due diligence on technology providers, and an industry-standards effort involving the federal regulators would make portions of that work reusable across institutions. A July 21 draft term sheet outlines a possible framework for reducing some of that duplication. It calls for a voluntary public-private Banking Innovation Standards Development Organization, or…",
  "key_points": [
    "Reusable certification could simplify bank due diligence on FinTechs.",
    "BISDO framework proposes public-private standards development organization.",
    "FDIC proposal may impact FinTech partnerships with credit unions."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}