- "The Shared Assessments Program's rigorous standards are equal to or better than all other standards. We are very satisfied with the acceptance by our clients."
- —Timothy J. O'Brien, Senior Vice President - Yodlee Incorporated
Shared Assessments History
The Shared Assessments Program was originally developed by Bank of America Corporation, The Bank of New York Mellon, Citi, JPMorgan Chase & Company, U.S. Bankcorp, and Wells Fargo & Company in collaboration with leading service providers and the Big 4 accounting firms. These founding organizations saw the need for a standardized and objective vendor management assessment methodology that would help outsourcers meet regulatory and risk management requirements while significantly reducing costs for all stakeholders.
The Shared Assessments Program pilot was completed in 2005, and Version 1 of the Shared Assessments Program tools was launched in February 2006. Today, the Shared Assessments Program membership has grown to nearly 60 participating companies. Together, this community of outsourcers, service providers and assessment firms work together to foster adoption of the Shared Assessments standards around the globe. A number of companies license the Shared Assessments tools for use in their software products. View a list of Shared Assessments software licensees.