Banks partner with third-party service providers (“TSPs”) to outsource a range of critical business services, reach new customer segments, and offer new products and services. This is especially true for community banks that have limited resources to pursue and develop in-house technology solutions. Bank-TSP relationships have grown in importance and scale, and clear, actionable, and operational guidance from regulators is critical for banks to successfully navigate complex third-party relationships while meeting their compliance obligations. Supervisory guidance that is targeted to the risks and considerations posed by distinct products, services, and TSP relationship types (e.g. deposit-taking, lending, payments, digital assets custody) can provide an operational roadmap for banks to better manage third-party relationships and risks.