David KatzCredit unions rely heavily on third-party vendors to ensure that competitive products and services are made available to their members. This is increasingly true in regards to a credit union’s relationship with its mobile banking vendor. Primarily region and community centric credit unions often lack the resources to build out the latest mobile financial service technologies for service offerings for their customers.

Partnering with a capable third-party mobile vendor allows credit unions to quickly bring mobile financial services products to market without the cost and labor intensive demands of building their own solutions in house. However, enlisting a third-party vendor to provide mobile services exposes credit unions to significant new risks. This admonition can, and likely should, be extended to all relationship with third-party vendors.

Just ask Target, whose well-publicized breach was facilitated in part by credentials stolen from a third-party HVAC vendor.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.