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Web-Based Vendor Management Solution for CUs Planned by CUNA Strategic Services and TraceSecurity
June 30, 2008
FOR IMMEDIATE RELEASE
Contact: Katye Long
CUNA Communications; (608) 231-4038
klong@cuna.coop
Wendy Parish
Freestyle Public Relations; (515) 223-4343
wendy@freestylepr.com
FOR IMMEDIATE RELEASE
MADISON, Wis. and BATON ROUGE, La. – Credit unions will soon have the ability to ensure that their third-party vendors comply with regulatory responsibilities and best practices when dealing with sensitive information. The Web-based vendor risk management solution will be available through CUNA Strategic Services and TraceSecurity. This first-ever planned solution for credit unions will centralize vendor data, manage relationships, assess vendor risk, and ensure compliance with policies and controls.
Credit unions rely on an increasing number of third party vendors to deliver quality services to their members, and they have to spend a large amount of time ensuring that they are complying with related regulations. By combining forces and leveraging CUNA Strategic Services’ thorough due diligence process with TraceSecurity’s software expertise in security and compliance, the joint venture will provide nearly 8,000 credit unions with an unparalleled vendor risk management solution.
“TraceSecurity, as a strategic alliance provider, has been working successfully with CUNA Strategic Services for the past several years,” stated Jim Stickley, chief technology officer at TraceSecurity. “We believe this new solution will help finally bring 100 percent centralized control over the compliance complexities and risk management that credit unions grapple with on a daily basis.”
“Credit unions spend tremendous time and budget focusing on identifying and mitigating the risks associated with providing external access to sensitive data,” stated Wes Millar, senior vice president of CUNA Strategic Services. “The market of more than 8,000 credit unions has been asking for a product that can help centrally manage the risk and compliance issues they deal with, and we will announce a solution that we’ve been working on with TraceSecurity in the near future.”
More information regarding the Vendor Risk Management solution will be unveiled at the 2008 America’s Credit Union Conference and Expo, taking place June 29 through July 2 in New York City.
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About CUNA Strategic Services
CUNA Strategic Services, owned jointly by the Credit Union National Association (CUNA) and the state leagues, provides credit unions with access to high quality products, services, and technologies delivered with a competitive advantage made possible through volume pricing and strategic program development. CUNA serves 90 percent of America’s 8,500 credit unions, which are owned by more than 90 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information, visit strategicservices.cuna.org.
About TraceSecurity
TraceSecurity is a leading provider of security compliance and risk management solutions. The company helps organizations of all sizes to achieve, maintain and demonstrate security compliance while significantly improving their security posture. Key to TraceSecurity’s success is the company’s comprehensive patent-pending methodology that helps clients address all of the critical components of a successful security compliance program; people, process and technology.
TraceSecurity delivers its solutions through an integrated software-as-a-service platform backed by expert professional services and comprehensive security awareness programs. The company’s flagship offering, TraceCompliance Manager, is the first comprehensive solution to automate regulatory compliance audits, board level reporting, policy management, vulnerability assessment, and employee education and testing. The company’s expert professional services include onsite security audits, and social engineering. The security awareness programs include an exhaustive set of standard offerings as well as custom designed courses. With over 800 clients, TraceSecurity supports the risk management and security compliance efforts of organizations in financial services, healthcare, insurance, government and other regulated sectors. For more information, please visit www.tracesecurity.com.
Note: TraceSecurity is a trademark of TraceSecurity, Inc.
Copyright © 2008 - Credit Union National Association, Inc.