Despite the documented ability of smart chips to cut fraud losses, experts say some credit unions and CUSOs have not moved very quickly to start issuing credit and debit cards enabled with the higher tech chips.
Credit unions and community banks using COCC as their service bureau for core processing will now be offered an integrated enterprise risk management solution from Fortress Risk Management, the Connecticut companies said.
A CUNA Mutual risk management expert said an enterprise approach is needed to combat the growing threat of fraud against credit unions.
Senior Risk Management Consulant Ann Davidson tells breakout group at America's Credit Union Conference that silo approach no longer works.
CU Rx, a newly launched risk management and compliance CUSO, has signed on Ohio Healthcare Federal Credit Union.
Finding the schedule to conduct a quarterly or annual risk management review proved to be a time crunch for CP Federal Credit Union.
Credit unions looking for assistance with risk management and compliance have a home-grown solution to turn to.
A changing lending landscape is forcing credit unions to turn to help as regulatory demands escalate.