Third-party risk management software for Indian banks and NBFCs: ProcessUnity, ServiceNow and the alternatives

What RBI's 2025 outsourcing directions ask of a bank or NBFC

On 28 November 2025 RBI issued consolidated Master Directions and withdrew 9,445 older circulars, including the 10 April 2023 IT outsourcing Master Direction and the 2006 bank outsourcing guidelines. Outsourcing is now covered by a separate direction for each category of regulated entity, such as the Commercial Banks and the NBFC Managing Risks in Outsourcing Directions, 2025, each with one chapter on financial services and another on IT services. They require a Board-approved outsourcing policy, due diligence and a materiality assessment, RBI inspection rights in the contract, tested business continuity, an exit strategy and a central record of material arrangements that the Board or its committee reviews every half-year. Base Layer NBFCs are outside the IT-outsourcing chapter. Our guide to the directions covers the paragraphs in detail.

What to compare in third-party risk software for Indian banks

Six questions separate tools built for Indian regulated entities from global suites with a financial-services label.

• Does the vendor's own page address RBI's 2025 outsourcing directions, or cite US and EU guidance only?
• Can the tool tier suppliers by RBI's materiality test and produce the half-yearly record of material arrangements for the Board?
• Does it read the outsourcing contract and check RBI inspection rights, sub-contracting and exit terms, or only send questionnaires?
• Does it show which providers several vendors share (concentration) and fourth parties?
• Can it run Indian business checks such as GST, MCA and Udyam during onboarding?
• Where is the data hosted, and which certifications are the vendor's own?

IntelloSync (IntelloVendor)

We build this product, so read this section as the vendor's own account; the other sections are taken from each vendor's pages. IntelloVendor, IntelloSync's vendor management product, runs onboarding, due diligence and risk monitoring for vendors in one system that links to your contracts and compliance. It includes a materiality rubric that tiers suppliers, an RBI material-outsourcing assessment template that includes the inspection-rights test, and a clause playbook for RBI outsourcing terms that treats inspection language conditioned on the provider's consent as a failure rather than a pass. A sub-processor register feeds a concentration report showing providers shared across vendors, and lists material vendors with no sub-processor declaration separately. Each supplier gets an explainable risk score with its basis shown, and insufficient data instead of a score when too little has been provided. A Governance report gives the half-yearly material-outsourcing extract for the Risk Management Committee, senior management and the Board. Because IntelloVendor shares one repository with IntelloContract and IntelloComply, a supplier's due diligence, its contracts and its obligations are one record. IntelloSync is ISO/IEC 27001:2022 certified and headquartered in Gurugram, Haryana; pricing is per module with unlimited users. Our view, as its maker: IntelloVendor is the best choice for an Indian bank or NBFC that wants the RBI outsourcing clause tests, the materiality record and the contracts in one system, because they share one repository.

ProcessUnity

ProcessUnity's TPRM platform automates intake, vendor tiering, due diligence, approvals and risk assessments, pre-fills questionnaire responses with AI, scores vendors with its Risk Index and monitors third-party risk continuously. Its financial-services page lists US, UK and EU rules and standards (OCC and EBA guidelines, Federal Reserve SR 13-19, NYDFS 23 NYCRR 500, GLBA, FCPA, the UK Bribery Act, GDPR, PCI DSS and ISO 27001); RBI, Indian banks and NBFCs are not mentioned. Its trust centre says the platform is hosted on Azure in regional facilities without naming them, and its Global Risk Exchange on AWS in US-East, and it states SOC 2 Type 2, ISO 27001:2022 and ISO 42001. Concentration and fourth-party risk, prices and an India office are not published on the pages read.

OneTrust Third-Party Management

OneTrust's third-party management automates intake screening against risk-rating and compliance databases, uses AI to ingest external risk evidence and draft questionnaire responses, validates inherent and residual risk scores with external data and flags changes in risk posture. Its trust page lists ISO/IEC 27001, 27701 and 27017, ISO 9001, SOC 2 Type II and PCI DSS, among others; hosting regions are not published. Pricing is based on admin users and third-party inventory, without figures. RBI, Indian banks, contract-clause checks and concentration risk are not mentioned on the pages read.

SecurityScorecard

SecurityScorecard started in security ratings: it rates companies' external security posture from A to F from outside-in data, rescans daily for paid customers and the vendors they follow (about weekly otherwise), sends alerts, and identifies third and fourth parties through DNS and web crawling. Its TITAN packages now add a vendor directory, intake and tiering, with questionnaires and risk scoring in the Assess tier and fourth-party concentration mapping in the Secure tier. Pricing depends mainly on how many organisations you monitor, with a free rating of your own company. Its certifications sit on a separate trust centre that we could not load, hosting is not stated, and RBI and Indian banks are not mentioned on the pages read.

IDfy

IDfy (Baldor Technologies, India) publishes a third-party risk management page that cites India's DPDP Act and describes structured review of vendor contracts at onboarding, identification of missing clauses and liability gaps, risk assessment across defined parameters, mapping of vendor access to personal data and alerts when exposure shifts. Its business due-diligence page lists MCA, GST, FSSAI and Udyam checks, promoter and director screening, and court, AML and PEP records. It states ISO 27001:2022 and SOC 2 Type 2, and its homepage testimonials carry logos including Kotak Mahindra and Aditya Birla. RBI's outsourcing directions, questionnaires, hosting and prices are not published on the pages read.

Atlas Systems ComplyScore, ServiceNow and Oracle

Atlas Systems (East Brunswick, New Jersey) publishes an RBI page for ComplyScore aimed at banks, NBFCs and payment system operators, with automated concentration-risk analysis and classification of material and non-material arrangements; the page cites RBI's Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services, which RBI withdrew on 28 November 2025, and does not mention the 2025 directions, so ask how it maps to them. ServiceNow's vendor risk management and Oracle's supplier management pages could not be loaded on 1 November 2026, so they are not assessed here.

Which fits which

From the vendors' own descriptions, not a ranking.

• RBI outsourcing clause tests and the material-outsourcing record for the Board: IntelloVendor; Atlas ComplyScore addresses RBI materiality but cites the withdrawn guidelines.
• Global questionnaire-led programmes across many regulators: ProcessUnity and OneTrust.
• Outside-in security ratings of vendors, with TPRM packages built around them: SecurityScorecard.
• Indian business and background checks at onboarding: IDfy.
• Concentration of shared providers: IntelloVendor (sub-processor register and concentration report) and Atlas ComplyScore; SecurityScorecard maps fourth parties.

How to test it in a trial

Run three of your own outsourcing arrangements through each shortlisted tool.

• Put one material arrangement through the tool's materiality test and see whether the result and its reasons are recorded.
• Upload the outsourcing contract and check whether inspection rights conditioned on the provider's consent are flagged.
• Produce the half-yearly record of material arrangements as the Board would receive it.
• Add two vendors that share a cloud provider and see whether the concentration shows.
• Ask where your data will be hosted and for the vendor's own certificates.