AuditLink, the audit and compliance division of CU*Answers with deep expertise in financial fraud, and Fortress Plus, an industry-leading Fraud Management solution provider, have recently signed a partnership agreement to bring comprehensive software and services in the management and prevention of fraud to credit unions.
AuditLink has been in the shared execution business for 9 years performing daily log management of high risk activity for over 70 credit unions nationwide. The new partnership allows AuditLink to more than double the log management services they offer and increase their compliance offering today while paving the way for more.
“Over the last few years regulatory pressure has increased dramatically relative to credit unions monitoring higher risk transactional activity,” said Jim Vilker, VP of Professional Services and head of AuditLink. “Although our core has great tools we have seen a spike in credit unions requesting data exchanges to fraud management platforms and what we have seen is a true lack of data governance or an omnichannel approach to fraud.”
Last year CU*Answers kicked off an initiative on finding a partner to help its analytics team get a full understanding of analytical platforms, but to take these analytics to a new level. Vilker went on to say: “We just didn’t want a partner to teach us, we wanted one that would go into business with us. We found a partner in Fortress using their Rampart components to significantly expand this business with additional fraud management tools as well as the capability to monitor for credit unions beyond the CU*Answers client base.” Fortress stepped up to the plate and assisted with the development of a whole new business line to cooperatively serve the credit union marketplace.
“Fortress Plus is excited about partnering with an innovator such as AuditLink and the broad CU*Answers team,” indicated Jeff Whelton, President of Fortress Plus. “Our roots are founded in bringing fraud management to community credit unions and this relationship reaffirms our mission to be a great partner with leading CUSOs.”