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Sun Community Federal Credit Union Selects Fortrex Technologies' VendorPoint to Manage Vendor Relationships

Posted on: Wednesday, 18 March 2009, 07:00 CDT

Turnkey Solution Reduces Time Spent Identifying, Measuring, Monitoring and Managing Vendors

FREDERICK, Md., March 18 /PRNewswire/ -- Fortrex Technologies Inc., a leading provider of IT security, operational risk and compliance solutions, today announced that El Centro, CA-based Sun Community Federal Credit Union has selected its VendorPoint (R) technology, the industry's first automated vendor management and privacy compliance technology solution, to manage vendor relationships, maximize efficiencies and minimize risk. Sun Community Federal Credit Union will utilize VendorPoint to meet regulatory guidelines for vendor risk management while streamlining operations.

VendorPoint ensures that vendor management policies are being implemented by comparing vendor information with an organization's policy requirements. The technology initiates the processes defined by a company's policy and tracks its progress to ensure that an acceptable level of risk is identified, measured and continuously monitored. VendorPoint also captures the results of compliance reviews and utilizes the data to provide vendor health risk reports as well as vendor contract renewal dates.

"VendorPoint is a complete solution that reduces the burden associated with managing vendor relationships. The technology reduces time spent identifying, measuring, monitoring, and managing vendors to the level deemed appropriate by the FFIEC and GLBA. It also ensures that banks and credit unions are managing vendor relationships according to institution size, resources and complexity," said Bill Schneider, VendorPoint Product Manager, Fortrex.

"We purchased the VendorPoint technology to assure compliance with the National Credit Union Association. We had been managing our contracts, renewals and assessments manually; it was a time consuming and inefficient process," said Bernie Delgado, Projects Coordinator, Sun Community Federal Credit Union. "As we researched technology solutions we determined it was important for us to choose a solution that was easy to install, easy to use and has strong customer references. Thus far, VendorPoint has lived up to its promises. As we continue to use the technology I foresee it will be invaluable to us as well as our auditors."

For additional information about Fortrex and VendorPoint, visit www.fortrex.com or www.vendorpoint.net.

About Sun Community Federal Credit Union (http://www.suncommunityfcu.org)

Sun Community Federal Credit Union provides members diversified, convenient and personalized financial services at competitive rates while maintaining a sound financial condition.

About Fortrex Technologies, Inc. (www.fortrex.com)

Since 1997, Fortrex Technologies has serves as a trusted security and risk management advisor to its clients throughout the world. Fortrex focuses exclusively on IT security, operational risk and regulatory compliance and helps organizations throughout the world identify, assess, remediate and manage their operational risks through consulting, audit, vendor management and human capital assistance. By providing expert technical assessments, Fortrex ensures the confidentiality, integrity, and availability of data and systems through world-class, enterprise-wide information security services and solutions. Powered by a team of security and risk management experts and the industry's leading technology, Fortrex's in-depth risk assessments and solutions ensure that its client's information assets remain safe and secure.

SOURCE Fortrex Technologies, Inc.

Source: PR Newswire

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