Streamlined Vendor Risk Management Exceeds Third Party Risk Requirements at First Tech Federal Credit Union
Streamlined Vendor Risk Management Exceeds Third Party Risk Requirements at First Tech Federal Credit Union
2 PagesWith over $8.6 billion in assets, First T ech Federal Credit Union is one of the ten largest credit unions in the United States, serving more than 425,000 members nationwide. Its members work for some of the most advanced technology companies in the world, including HP , Microsoft, Intel, Amazon, Intuit and Google, and they demand that the credit union supply an effortless banking experience. T o deliver first-rate member service, First T ech FCU works with upwards of 1,000 vendors. In 2016, the institution expects to add another 80 vendors to the mix. Addressing Regulatory Scrutiny Not only is managing so many vendors cumbersome, but regulatory scrutiny of third party vendors has heightened in the past few years, with examiners increasingly focusing on vendor risk management. Fi
