Since its debut a few months ago, more than 530 credit unions and nine leagues have signed on to VendorTrack to manage their third-party vendor relationships.
Developed by CUNA Strategic Services and TraceSecurity, VendorTrack aims to help 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, according to the companies.
Sixty-five 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, CSS said. Along with all 23 of the CSS alliance providers, other vendors include PSCU Financial Services, Symitar, Fiserv and CO-OP Financial Services.
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