Apple Federal Credit Union and Park View Federal Credit Union have picked VendorXpert to manage third-party relationships and related risks.
The web-based management solution helps financial institutions mitigate risk and prevent losses by verifying that the companies they do business with are secure and trustworthy.
"We were looking for software that was far more than contract management based systems that we found in the market. VendorXpert's risk methodology, work box, and its ability to send emails automatically to our vendors and staff regarding upcoming requirements and tasks was something that truly impressed us," said Apple Federal Credit Union Compliance Manager John Harwell.
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Innovative Strategic Solutions LLC, a Rockville, Md. based CUSO, sold the software, which was developed by the Sydel Corp.
Apple FCU is headquartered in Fairfax, Va., while Park View FCU is in Harrisonburg, Va.
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