CUNA Strategic Services (CSS) has selected Venminder, a recognized leader in third-party risk management solutions, as its newest alliance provider. The collaboration provides credit unions with a vetted top-of-market solution that can guide in creating consistent end-to-end third-party risk management processes.
“We’re very excited to bring on Venminder as our newest strategic alliance provider,” said Barb Lowman, president, CUNA Strategic Services. “Managing vendor relationships and staying on top of regulatory requirements presents a significant challenge to credit unions. This new relationship will streamline the process of meeting regulatory requirements, and mature our credit union partners' third party risk management programs.
Simplifying risk assessments, providing tremendous education opportunities and subject matter expertise puts an exclamation point at the end of the sentence explaining why we chose Venminder to help CSS solve this issue for our nation's credit unions.”
Venminder is a leading provider exclusively dedicated to third-party risk management. Their innovative platform combines best-of-breed software functionality and subject matter expertise via the human element to support and meet the needs of a growing member base. Venminder has a strong history of rapid growth, now amassing more than 1,000 customers in its mission to help solve the many challenges organizations face when managing risks from outsourcing to third parties.
The Venminder SaaS platform empowers customers to build a comprehensive, end-to-end view of the risks their vendors may pose, enabling them to seamlessly track, automate, assess and report on all vendor activity in a centralized repository to serve as their vendor system of record.
“We are very excited to align with CUNA Strategic Services, as Venminder is deeply committed to supporting credits unions with innovative solutions for third-party risk management programs,” said James Hyde, CEO of Venminder. “We are looking forward to working together to help credit unions make informed decisions on managing risk throughout the entire vendor lifecycle, whether that is through the onboarding of new vendors, ongoing oversight of active vendors or all the way through offboarding of terminated vendors.”
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
