December 10, 2013 ‐ VendorInsight® announced today that its class-leading, web-based vendor management solution achieves 100% compliance with the latest regulatory guidance issued in 2013 for financial institutions. Beginning in January with FFIEC guidance for social media monitoring, through mid-year with CFPB and FDIC, and concluding on October 30 with OCC's replacement guidance for Third Party Risk Management (2013-29) which replaces its previous guidance, financial institutions have been asked to meet increasingly stringent and more clearly prescribed requirements for vendor and third party risk. VendorInsight®'s Fall Compliance Update published on November 13 highlights and compares key features in its award-winning software solution and how they enable complince with the newest guidance.
Concurrent with the new guidance, VendorInsight® released an announcement about new services that are offered as an integrated solution with VendorInsight® that include social media monitoring, customer complaint monitoring and other special monitoring services for critical customer-facing vendors and third parties. "These new services were introduced to help our financial institution customers meet examination recommendations they had received and comply with the new requirements that have been pronounced this year," says Liz Huseman, Client Program Director at VendorInsight®.
VendorInsight® is a subsidiary of Cost Management Performance Group, LLC (CMPG), based in Blue Ash, OH. VendorInsight® delivers the industry's most sophisticated and easy‐to‐use vendor management solution, backed
by CMPG's leadership, expertise and exceptional customer service, to help companies manage third party and vendor risk and improve operational performance and compliance. CMPG is a leading professional services and
software company that provides strategic profit enhancement and process development programs for financial institutions and other Fortune 500 companies in the U.S.
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