Nth-party service provider
Supply chain - suppliers - financial services - third-party service providers - Financial Stability Board (FSB).
As defined by the Financial Stability Board (FSB), an nth-party service provider is part of a third-party service provider’s supply chain and supports the ultimate delivery of services to one or more financial institutions.
In turn, a third-party service provider is one that provides services to one or more financial institutions under a third-party service relationship.
"Nth-party service providers may be referred to as sub-contractors, sub-outsourced service providers or indirect service providers.
A fourth-party service provider provides services to one or more third-party service providers, and this concept can be further extended into nth-party service providers."
Enhancing Third-Party Risk Management and Oversight: A toolkit for financial institutions and financial authorities, Financial Stability Board (FSB), December 2023.
See also
- Contractor
- Financial authority
- Financial institution
- Financial Stability Board (FSB)
- Intra-group service provider
- Outsourcing
- Service provider
- Subcontractor
- Supply chain
- Third party
- Third-party risk
- Third-party service provider
- Third-party service relationship
