PADUCAH, Ky., Feb. 6, 2014 – Based on changing regulatory standards that hold financial institutions responsible for the violations of their vendors, banks and credit unions are being forced to take a closer look at third-party relationships. In an effort to help simplify the vendor management compliance process, Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end technology solutions that empower financial institutions to remain competitive, compliant and profitable, has launched WatchDOG® Elite Vendor Management. This advanced vendor management solution improves efficiency and mitigates risk by providing financial institutions with an intuitive technology platform to automate and streamline the oversight of vendor relationships. With WatchDOG Elite Vendor Management, users are able to more effectively establish and maintain successful vendor relationships while ensuring full compliance with regulatory expectations. “The continued reliance on third-party vendors among today’s banks and credit unions requires financial institutions to follow a robust vendor management program in order to best protect their business and their customers,” said Paul Koziarz, president and general manager of CSI Regulatory Compliance. “By expanding the offerings of our WatchDOG Elite platform to include third-party vendor management, we not only provide our customers with the tools necessary to identify potential risks from prospective vendors, but also enable them to better manage all new and existing relationships moving forward.” In order to eliminate the challenges traditionally associated with managing third-party providers, WatchDOG Elite Vendor Management offers an assorted range of tools and capabilities aimed at helping financial institutions identify potential risks associated with new and existing vendors. Key features include:
In addition, WatchDOG Elite Vendor Management assists financial institutions in better preparing for examinations by providing various reporting options to supply regulators with a complete history of their vendor relationships. As a result, institutions can more easily provide evidence of their vendor assessment efforts and avoid costly penalties for working with faulty vendors. Since 1998, CSI Regulatory Compliance has provided organizations with software solutions and consulting services focused on risk management, OFAC watch list screening and fraud prevention. As a leader in the regulatory compliance space, CSI provides solutions and services that ensure customer success by leveraging the latest technology advancements to consistently deliver superior results
- New solution simplifies vendor management, mitigates potential risks -
PADUCAH, Ky., Feb. 6, 2014 – Based on changing regulatory standards that hold financial institutions responsible for the violations of their vendors, banks and credit unions are being forced to take a closer look at third-party relationships. In an effort to help simplify the vendor management compliance process, Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end technology solutions that empower financial institutions to remain competitive, compliant and profitable, has launched WatchDOG® Elite Vendor Management. This advanced vendor management solution improves efficiency and mitigates risk by providing financial institutions with an intuitive technology platform to automate and streamline the oversight of vendor relationships. With WatchDOG Elite Vendor Management, users are able to more effectively establish and maintain successful vendor relationships while ensuring full compliance with regulatory expectations. “The continued reliance on third-party vendors among today’s banks and credit unions requires financial institutions to follow a robust vendor management program in order to best protect their business and their customers,” said Paul Koziarz, president and general manager of CSI Regulatory Compliance. “By expanding the offerings of our WatchDOG Elite platform to include third-party vendor management, we not only provide our customers with the tools necessary to identify potential risks from prospective vendors, but also enable them to better manage all new and existing relationships moving forward.” In order to eliminate the challenges traditionally associated with managing third-party providers, WatchDOG Elite Vendor Management offers an assorted range of tools and capabilities aimed at helping financial institutions identify potential risks associated with new and existing vendors. Key features include:
In addition, WatchDOG Elite Vendor Management assists financial institutions in better preparing for examinations by providing various reporting options to supply regulators with a complete history of their vendor relationships. As a result, institutions can more easily provide evidence of their vendor assessment efforts and avoid costly penalties for working with faulty vendors. Since 1998, CSI Regulatory Compliance has provided organizations with software solutions and consulting services focused on risk management, OFAC watch list screening and fraud prevention. As a leader in the regulatory compliance space, CSI provides solutions and services that ensure customer success by leveraging the latest technology advancements to consistently deliver superior results