NEW YORK –The most effective evaluations of outside service providers involve risk assessment, effective due diligence review and close monitoring.
That's the advice Dominic Nigro, the NCUA's information system officer, gave during a session at America's Credit Union Conference and Expo.
Nigro said the benefits of those arrangements include expanding product services, savings, and leveraging skills and expertise. Before entering a relationship, CUs should ask whether it meets goals and objectives and how critical the relationship is to the credit unions, he advised.
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