Don’t Rush It: A Financial Institution’s Guide to Choosing (or Changing) a Vendor Partner
October 16th, 2026 | By: Stephanie Macrafic, CFE, Strategic Solutions Advisor
Key Summary
Choosing or replacing a BSA/AML, fraud, compliance, or core technology vendor takes longer than most financial institutions plan for. RiskScout’s free guide lays out a realistic 18-month timeline in five phases, plus 10 questions to ask any vendor before you sign.
Most vendor decisions get squeezed at the end. Teams start comparing options when a contract is about to renew, then rush implementation once a choice is made. That leaves no room for an honest comparison, and no room for a smooth switch if one turns out to be needed.
This guide gives community financial institutions leaders a clear plan for the full process. It covers new purchases as well as re-evaluating a partner you already have.
What’s included:
Your 18-month Evaluation Timeline
10 Questions to Ask Vendors Before Signing
Key Challenges Commonly Overlooked
Frequently Asked Questions
Meet the Author:
Stephanie Macrafic, CFE, Stategic Solutions Advisor
With over a decade in financial services, Stephanie brings a rare blend of frontline experience and strategic insight to the team. She started her career as a bank teller, where she caught her first case of internal fraud, and has since worked her way up through retail banking, branch leadership, and contact center operations into enterprise risk, fraud prevention, and risk management leadership at a credit union. A Certified Fraud Examiner and industry speaker, Stephanie doesn't just spot red flags, she turns complex regulatory problems into practical solutions. She currently serves as Vice President of the Twin Cities Chapter of the ACFE.
