Automated Workflows, Assessments and Processes Modernize Third-Party Risk Management
ProcessUnity, a leading provider of cloud-based applications for risk and compliance management, today announced that Meridian Bank has selected ProcessUnity Vendor Risk Management to automate and streamline their Third-Party Risk Management program.
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Meridian is an innovative community bank serving Pennsylvania, New Jersey, Delaware and Maryland with a full suite of financial products and services. Meridian specializes in business and industrial lending, retail and commercial real estate lending, wealth management and electronic payments. Meridian also has a broad menu of high-yield depository products supported by robust online and mobile access.
“As we looked to develop a strategic Third-Party Risk Management program, ProcessUnity was the only company that offered flexibility, configurability and best-practice implementation across the vendor lifecycle,” said Sally Wolgin, SVP – Information Systems, Meridian Bank. “ProcessUnity Vendor Risk Management will allow us to automate processes for onboarding new vendors, conduct pre-contract due diligence and facilitate ongoing vendor assessments, ultimately reducing risk for our organization.”
ProcessUnity’s Vendor Risk Management software protects companies and their brands by reducing risks from third-party vendors and suppliers. The company helps customers effectively and efficiently assess and monitor both new and existing vendors – from initial due diligence and onboarding to mature ongoing relationships. Through automation and standardization, ProcessUnity customers reduce busy work, streamline regulatory reporting and improve overall visibility into vendor performance.
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