Six of Canada’s largest banks and CanDeal develop TPR solution
27 February 2026 Canada
Image: anderm/stock.adobe.com
Canada’s six largest banks have partnered with CanDeal to develop a shared third-party risk (TPR) management solution, aimed at simplifying due diligence processes across the financial services sector.
The CanDeal TPR solution, which is scheduled to be piloted in the first half of 2026, will introduce a common framework designed to support compliance with regulatory requirements.
The banks say that the initiative aims to reduce duplicative administrative and compliance tasks, easing the burden on third-party suppliers while improving operational efficiency for participating institutions.
Initially developed by and for the financial services industry, the platform is designed to standardise and streamline third-party due diligence processes that have traditionally been fragmented and resource-intensive.
According to the organisations involved, the framework is expected to accelerate onboarding and review processes, lower associated costs, and support wider supplier participation.
Jayson Horner, co-founder, president and CEO of CanDeal, says: “The regulatory requirements are complex, and the due diligence process can be demanding, stifling access, and innovation.
“This initiative changes that dynamic entirely. It's about making the process more efficient, inclusive, and beneficial for everyone involved while maintaining the necessary risk oversight required.”
The CanDeal TPR solution, which is scheduled to be piloted in the first half of 2026, will introduce a common framework designed to support compliance with regulatory requirements.
The banks say that the initiative aims to reduce duplicative administrative and compliance tasks, easing the burden on third-party suppliers while improving operational efficiency for participating institutions.
Initially developed by and for the financial services industry, the platform is designed to standardise and streamline third-party due diligence processes that have traditionally been fragmented and resource-intensive.
According to the organisations involved, the framework is expected to accelerate onboarding and review processes, lower associated costs, and support wider supplier participation.
Jayson Horner, co-founder, president and CEO of CanDeal, says: “The regulatory requirements are complex, and the due diligence process can be demanding, stifling access, and innovation.
“This initiative changes that dynamic entirely. It's about making the process more efficient, inclusive, and beneficial for everyone involved while maintaining the necessary risk oversight required.”
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