in general, the third-party provides goods or services to help one of the parties fulfill its contractual obligations. these relate to the following: financial institutions depend a great deal on third-party vendor agreements. these agreements face a lot of scrutiny due to increased attention to cybersecurity and the complex nature of bank-vendor relationships. however, vendors might allow them to do so if a regulator directs them to or if they believe that continuing the contract could jeopardize the soundness and safety of the institution. in many instances, vendor contracts may give the vendor permission to assign the contract to a third party without the financial institution’s consent.