ST. PETERSBURG, Fla. — The VMAlliance, a vendor risk management resource expected to launch in the second quarter of 2008, is getting a boost from the nation's largest CUSO.
The offshoot of the Credit Union Information Security Professionals Association, will aim to bring credit unions, vendors and the NCUA together to establish best practices and standards for addressing risk management.
PSCU Financial Services said credit unions will benefit from centralized vendor management, a compliance advisory network, industry-standardized evaluation criteria, peer communication and ways to measure, monitor and control risk.
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"This consortium delivers advantages for both credit unions and the organizations that service them," said David Serlo, president and CEO of PSCU Financial Services, a provider of bill pay, call center and card services to more than 1,100 financial institutions.
More information on VMAlliance is at www.vmalliance.org.
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