Vendor Management for Financial Institutions: Banks, Credit Unions, Mortgage Companies
Diversified Members Credit Union, the official Credit Union of the Detroit Lions chooses Trust Exchange and Auditlink to manage their vendor compliance program.
This afternoon we are co-hosting a webinar with our partner, Auditlink entitled "Leveraging Latest Technologies to Lower Cost of Vendor Management." Unfortunately, due to limited space, we were unable to accommodate everyone interested in attended so we had to shut down registrations. We will post the slides and a recording of the webinar within the next few days.
In the meantime, here is a summary of the topics discussed:
- new regulations are increasing the costs of managing vendors for credit unions
- cost of compliance increase isn't incremental but exponential
- existing solutions are largely manual workflow management and don't scale
- Trust Exchange provides a solution based on crowdsourcing and collaboration
- Trust Exchange DEMO
- Q & A
Stay in the loop....don't miss the next webinar by clicking below.
We're in Orlando Florida this week attending the National Association of Credit Union Service Organizations annual meeting: NACUSO Network 17. We're here supporting our partner, Audit Link who uses the Trust Exchange platform to manage risk for Credit Unions.
Due to recent regulations Vendor Compliance and Vendor Management are pressing issues for Credit Unions of all sizes. With Audit Link, we've created a series of risk assessment and monitoring products that dramatically reduce the cost of managing a vendor compliance program and increase compliance readiness.
In creating the joint vendor management products, we made certain that the audit and monitoring products scaled up and down to support credit unions of all sizes. We have implemented this cost effectively for Credit Unions with a handful of vendors as well as those with hundreds of vendors.
If you're attending NACUSO and want to learn more, I'll be hanging in the exhibit hall with our partners at Audit Link and CUAnswers.