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530 CUs already signed on to VendorTrack
MADISON, Wis. (6/12/09)--More than 530 credit unions and nine credit union leagues have taken advantage of VendorTrack’s secure, Web-based vendor management system to centralize their third-party relationships, since it launched a few months ago. Also, 65 vendors are currently using VendorTrack to facilitate the requests they receive from credit unions for their due diligence information and to respond to requests for proposal. Along with all 23 of the CUNA Strategic Services (CSS) alliance providers, the more-than 40 other vendors include: PSCU Financial Services, Symitar, Fiserv and CO-Op Financial Services. Attendees of the America’s Credit Union Conference and Expo in Boston this month can find out more about VendorTrack through one of several educational sessions. The sessions will be held June 22 at the CSS theater in the exhibit hall. Vendor sessions are slated for 7:30-8 a.m. and 6-6:30 p.m., EDT. The credit union session will be held at 5:30 p.m. Developed by CSS and TraceSecurity, a CSS alliance provider, VendorTrack helps credit unions ensure that their third-party vendors comply with regulatory responsibilities and best practices when dealing with sensitive information. It allows credit unions to centralize vendor data, manage relationships, assess vendor risk, and ensure compliance with policies and controls. Credit unions can request their current vendors to sign up, and they can manage the information based on the level of criticality of the relationship--one of the National Credit Union Administration’s requirements for these relationships. Credit unions also can set notification alerts for contract expirations, requests for proposal and updated vendor information. For more information, use the link.
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