VyStar Credit Union Selects ProcessUnity Vendor Cloud for Third-Party Risk Management

ProcessUnity News Update

CONCORD, MASS. – July 25, 2017 – ProcessUnity, a leading provider of cloud-based solutions for risk management, today announced that VyStar Credit Union has selected ProcessUnity Vendor Cloud to automate its third-party risk management processes. The company will leverage ProcessUnity to identify and mitigate risks posed by its critical service providers, ensuring compliance, and fulfilling regulatory obligations.

VyStar Credit Union, headquartered in Jacksonville, Florida, has assets over $6.8 billion and 567,000 members. They are the largest credit union in Northeast Florida and the 4th largest financial institution, among credit unions and banks, in Northeast Florida. VyStar has 42 full service branches, 13 high school branches and over 200 ATMs conveniently located in Northeast to Central Florida. They offer a full range of deposit and loan services for consumers and businesses as well as an array of non-deposit products and services including investments, retirement planning and financial counseling.

“Vendor Cloud will help VyStar automate the administrative tasks related to third-party risk management and allow us to focus on higher-value risk management activities,” said Vicki Adams, Chief Risk Officer at VyStar Credit Union. “We believe the cloud-based system will make it easier to fulfill our regulatory obligations while providing management real-time visibility into risk assessment progress, the status of remediation activity and vendor ratings.”

ProcessUnity Vendor Cloud is a Software-as-a-Service (SaaS) application that identifies and remediates risks posed by third-party service providers. The cloud-based solution automates key phases of the vendor risk management lifecycle from initial onboarding and due diligence, through ongoing assessments, service-level agreements (SLAs) and contract management. (Click here to view a five-minute video demonstration.)

For more information on Vendor Cloud and third-party risk management, visit www.processunity.com.