Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Leagues partner to help manage third-party relationships
RANCHO CUCAMONGA, Calif. (2/24/09)--The California and Nevada Credit Union Leagues have partnered with Montana-based Digital Compliance LLC to assist credit unions in mitigating risk and reducing cost when dealing with their third-party relationships or vendors. “We chose Digital Compliance as a business partner partly because its services help meet one of the greatest needs of our member credit unions--information security,” said Sylvia Fath, leagues’ senior vice president of business services. “Its Vendor Compliance Management Solution is more than a software program or repository,” Fath added. “It takes the burden from the credit union of requesting, receiving, documenting, digitizing, updating, and reporting complete due diligence and compliance documentation for all of its outsourced relationships.” As part of the solution, Digital Compliance will provide these services for the leagues’ member credit unions:
* Assist in the risk classification of outsourced relationships; * Identify specific information the credit union should get from its outsourced relationships; * Request, receive, review, report, maintain and update information from each relationship; * Provide practical reports and a document guide to assist in review; and * Maintain a secure, centralized access with update notifications.
The leagues and Digital Compliance will kick off the partnership with a webinar in March followed by compliance education workshops in April, June and September. Digital Compliance provides financial institutions and their vendors with an exchange of current due diligence and compliance documentation.


RSS print
News Now LiveWire
96 #creditunions across Britain have applied for funding from Lloyds Banking Group #CreditUnion Development Fund http://t.co/quq3OEE0Qq
7 hours ago
Eight new ideas hatched from @fileneresearch innovation incubator #NewsNow http://t.co/h6Ev6q3HnQ
7 hours ago
Homebuilder confidence continues to climb #NewsNow #Market http://t.co/UTBSpmoeZD
9 hours ago
Mich. league issues 4th consecutive dues rebate #NewsNow http://t.co/MGxMRRLrkb
10 hours ago
Passwords: It's not what you type, it's *how* you type via @Forbes http://t.co/QsPjmGjA4K
11 hours ago