At the recent CUNA Supervisory Committee and Internal Audit Conference held in Las Vegas, it was reported that Regulators are concerned with third-party due diligence, particularly the lack of due-diligence over vendors and too much reliance on vendors.
Suggestions included revisiting the vendor selection policy and obtain SSAE-16 reports to monitor vendors' controls and performance.
Btech is proud of the fact that we are SSAE-16 certified. (SOC2 Type II). We also make it easy to work with us by providing a complete vendor due-diligence package to all of our service agreement clients.
The complete CUNA article can be found HERE.