CONCORD, MA — (Marketwired) — 11/10/14 — ProcessUnity today introduced , a new version of its flagship aimed at helping smaller financial institutions identify and remediate risks posed by third-party service providers.
Vendor Cloud CBE automates third-party risk activities while capturing key supporting documentation that ensures compliance and fulfills regulatory requirements. Key features include:
Vendor Services Catalog – creates a central repository of vendor information, key documentation and related risks
Configurable, Online Vendor Questionnaires – simplify the assessment process for organizations and their suppliers
Dynamic Reporting – provides real-time visibility into the state of third-party risk and demonstrates to regulators the existence of an effective program
As a cloud-based application, Vendor Cloud CBE does not require hardware or IT support. Users access the secure system through their web browser. Simple import templates allow organizations to migrate their existing content.
“When it comes to third-party risk, community banks face the same level of regulatory pressures as larger financial institutions, but have fewer resources to manage their programs,” said Sean Cronin, General Manager, Risk Management Solutions at ProcessUnity. ” delivers automated assessment tools and reporting capabilities that spreadsheets and homegrown databases simply cannot provide. The end result is elimination of busy work, a focus on higher-value risk mitigation activities and a repeatable, reliable program that stands up to regulatory scrutiny.”
Vendor Cloud CBE is available immediately at a special introductory price specifically designed for financial institutions that manage less than $1 billion in assets. The annual subscription includes training, technical support, five user licenses and the ability to manage up to 300 vendors.
For more information or to schedule a , visit .
ProcessUnity is a leading provider of cloud-based applications for risk management and service delivery management. The company–s software as a service (SaaS) platform gives organizations the control to assess, measure, and mitigate risk and to ensure the optimal performance of key business processes. For public companies and regulated industries, ProcessUnity delivers effective governance and control, vendor risk mitigation, and regulatory compliance. For benefit plan administrators and other financial service firms, ProcessUnity controls complex product offerings and strengthens client service experience. ProcessUnity is used by the world–s leading financial service firms and commercial enterprises. The company is headquartered outside Boston, Massachusetts and is funded by Rose Park Advisors and other private investors. For more information, visit .
Jill Colna or Jeff Lavery
SVM Public Relations
401-490-9700
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