AuditLink, the audit and compliance division of the West Michigan-based CUSO CU*Answers, announced that it has become a reseller of the G2Link vendor monitoring platform, which helps financial institutions automate their vendor compliance monitoring.
AuditLink helps credit unions reduce their cost of compliance by providing compliance management services including daily log management, comprehensive program reviews, compliance training, and best practices review. The latest vendor management requirements are complex and entail significant additional effort on behalf of all involved parties: credit unions and their vendors. Recognizing this, CU*Answers found in G2Link a partner capable of solving this problem uniquely by creating a network of vendors making the exchange of requirements more cost effective and secure.
As part of the effort to reduce the cost of compliance, CU*Answers has provided a free vendor management system, the Risk Management Report Generator, for years. With this new partnership with G2Link, AuditLink will now be able to offer credit unions with a more complete vendor management service. AuditLink professionals will work with their credit union clients to ensure vendor due diligence is performed and appropriate materials are gathered from within G2Link’s system.
G2Link’s industry-leading platform is designed to accommodate the rapidly changing compliance requirements, while providing cost effective scale for the growing number of regulations. The regulatory requirements are particularly complex for credit unions and vendors alike.
“Today every business relies on more allies, partners, and vendors than ever before,” said Jim Vilker, AuditLink Manager, NCCO, CAMS. “It’s a networked world and keeping track of just the names of all the players who contribute to your organization’s success can be challenging, let alone the key data and information you need to defend them during vendor due diligence audits. You feel like you know your partners, but without the data can you prove you know your partners? G2Link data is part of our plan to know our partners.”
Mr. Vilker added, “Serving our credit union customers and setting the standard for regulatory compliance is an important part of our overall customer experience. The G2Link platform enables us to scale our compliance and deliver superior experiences for both CU*Answers customers and our internal stakeholders.”
“CU*Answers is at the forefront of setting the standard for compliance” said Edward Sullivan, CEO, G2Link. “We’re delighted to serve as CU*Answers’ partner as they further optimize their vendor compliance and in turn drive higher value to their credit union customers.”