CONCORD, Mass., July 25, 2017 (GLOBE NEWSWIRE) -- ProcessUnity, a leading provider of cloud-based solutions for risk management, today announced that VyStar Credit Union has selected ProcessUnity Vendor Cloud to automate its third-party risk management processes. The company will leverage ProcessUnity to identify and mitigate risks posed by its critical service providers, ensuring compliance, and fulfilling regulatory obligations.
VyStar Credit Union, headquartered in Jacksonville, Florida, has assets over $6.8 billion and 567,000 members. They are the largest credit union in Northeast Florida and the 4th largest financial institution, among credit unions and banks, in Northeast Florida. VyStar has 42 full service branches, 13 high school branches and over 200 ATMs conveniently located in Northeast to Central Florida. They offer a full range of deposit and loan services for consumers and businesses as well as an array of non-deposit products and services including investments, retirement planning and financial counseling.
“Vendor Cloud will help VyStar automate the administrative tasks related to third-party risk management and allow us to focus on higher-value risk management activities,” said Vicki Adams, Chief Risk Officer at VyStar Credit Union. “We believe the cloud-based system will make it easier to fulfill our regulatory obligations while providing management real-time visibility into risk assessment progress, the status of remediation activity and vendor ratings.”
ProcessUnity Vendor Cloud is a Software-as-a-Service (SaaS) application that identifies and remediates risks posed by third-party service providers. The cloud-based solution automates key phases of the vendor risk management lifecycle from initial onboarding and due diligence, through ongoing assessments, service-level agreements (SLAs) and contract management. (Click here to view a five-minute video demonstration.)
For more information on Vendor Cloud and third-party risk management, visit www.processunity.com.
About ProcessUnity
ProcessUnity is a leading provider of cloud-based applications for risk management and service delivery management. The company’s software as a service (SaaS) platform gives organizations the control to assess, measure, and mitigate risk and to ensure the optimal performance of key business processes. For public companies and regulated industries, ProcessUnity Risk Suite delivers effective governance and control, vendor risk mitigation, and regulatory compliance. For benefit plan administrators and other financial service firms, ProcessUnity Offer Management controls complex product offerings and strengthens client service experience. ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. The company is headquartered outside Boston, Massachusetts. For more information, visit www.processunity.com.