Industry observers estimate that there have been as many as 4,000 fintech start-ups since 2010 in the U.S. and the UK alone. These companies reside in all sectors of financial technology, from lending to payments and beyond. This surge in development has generated a lot of excitement in both the retail and the commercial space. It has also triggered a new wave of discussions in the area of vendor management practices, where regulators are starting to focus their attention. No doubt, your financial institution has considered utilizing new third party software for many different functions in the past two to three years. But the market is now evolving beyond software.