Automates Workflows, Assessments and Due Diligence with Vendor Cyber Intelligence Solution
CONCORD, Mass., March 09, 2021 — ProcessUnity, a leading provider of cloud-based applications for risk and compliance management, today announced that Idaho Central Credit Union (ICCU) has selected ProcessUnity Vendor Risk Management to automate and streamline its Third-Party Risk Management program. ICCU is leveraging ProcessUnity Vendor Cyber Intelligence (VCI) with BitSight to integrate cybersecurity ratings into their due diligence and continuous monitoring processes for increased insight into the validity of its vendors’ cybersecurity posture and to reduce overall risk to the business.
As the largest credit union in Idaho, ICCU has been named to the S&P Global list as a Top Performing Credit Union in the country for five straight years as it strives towards “helping members achieve financial success.” In order to achieve this mission, the company prides itself on providing exceptional, personalized service in all aspects of offering financial solutions to its members.
“We needed a solution that would allow us to automate processes for onboarding new vendors, conduct pre-contract due diligence and facilitate ongoing vendor assessments,” said Brian Berrett, Chief Financial Officer, Idaho Central Credit Union. “ProcessUnity Vendor Cyber Intelligence allows us to do this while providing management real-time visibility into our risk assessment progress.”
ProcessUnity VCI integrates BitSight’s leading cybersecurity ratings with ProcessUnity’s Vendor Risk Management platform to assist third-party risk teams with both pre-and post-contract vendor due diligence. During vendor onboarding and throughout the vendor relationship, BitSight security ratings combined with the ProcessUnity assessment engine provide continuous insight into the validity of the vendors’ cybersecurity posture and overall risk to the business.
ProcessUnity Vendor Risk Management protects companies and their brands by reducing risks from third-party vendors and suppliers. ProcessUnity helps customers effectively and efficiently assess and monitor both new and existing vendors – from initial due diligence and onboarding through termination. Through automation and standardization, ProcessUnity customers reduce busy work, streamline regulatory reporting and improve overall visibility into vendor performance.
ProcessUnity is a leading provider of cloud-based applications for risk and compliance 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. ProcessUnity’s flagship solution, ProcessUnity Vendor Risk Management, protects companies and their brands by reducing risks from third-party vendors and suppliers. ProcessUnity helps customers effectively and efficiently assess and monitor both new and existing vendors – from initial due diligence and onboarding through termination. ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. The company is headquartered outside Boston, Massachusetts. For more information, visit www.processunity.com.
About Idaho Central Credit Union
Idaho Central was organized as a state-chartered credit union in 1940. The credit union’s administrative office is located in Chubbuck, Idaho. Idaho Central has over 1,400 employees serving over 440,000 members with 41 locations throughout the state and over $7 billion in assets. Idaho Central is a full-service, federally-insured financial institution and is ranked as a top credit union in the nation in returning value to its members. For an Idaho Central location near you, please visit www.ICCU.com.
BitSight transforms how organizations manage cyber risk. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help organizations manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct financial diligence; and assess aggregate risk. With the largest ecosystem of users and information, BitSight is the Standard in Security Ratings. For more information, please visit www.bitsight.com, read our blog or follow @BitSight on Twitter.