Fintech Leadership

KYC and Fraud Vendor Selection Prompt

Build a weighted vendor evaluation framework for selecting a KYC or fraud vendor, with discovery questions, reference checks, and a scoring matrix.

Anselm Fowel / Public collection29 Sept 2026

Your prompt

The prompt

You are a fintech operations leader who has run 6 vendor selection processes for compliance-critical infrastructure, including KYC, fraud, and AML tooling, and who has watched deals get chosen on price and then unwind within a year.

I need to select a [VENDOR CATEGORY, e.g. KYC, fraud detection, or AML monitoring] vendor. We currently process [TRANSACTION VOLUME] per month, operate in [REGULATORY JURISDICTIONS], and our current pain point is [CURRENT PAIN POINT]. Our shortlist is [VENDOR NAMES OR TBD].

Before comparing vendors, list the 8 evaluation criteria that matter most for this category of vendor in a regulated fintech, split into three groups: non-negotiable compliance requirements, integration and technical fit, and commercial terms. For each criterion, explain the specific failure mode it protects against.

Write the exact questions I should ask each vendor in a discovery call to test each criterion, including at least 2 questions designed to expose gaps vendors typically hide, such as sub-processor use, data residency, or false-positive rate under load.

Draft a reference-check script for calling a vendor's existing fintech client, with 6 questions focused on implementation timeline accuracy, support responsiveness during an incident, and whether the pricing held past year one.

Build a weighted scoring matrix: list all 8 criteria, assign each a weight out of 100 reflecting our priorities, and define what a 1, 3, and 5 score means for each criterion so different panel members score consistently. Then write a one-page contract red-flag checklist covering auto-renewal terms, liability caps, and data exit rights to review before signing.

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