Fintech News Risk Management

Payrailz Receives “Exceptional” Rating in Its Inaugural Integrated Vendor Risk and Due Diligence Assessment Sourced Independently by Rochdale Paragon Group

Payrailz Receives “Exceptional” Rating in Its Inaugural Integrated Vendor Risk and Due Diligence Assessment Sourced Independently by Rochdale Paragon Group

Standardized methodology provides a holistic and risk weighted evaluation of Smart Payments Provider

Payrailz, a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States, is proud to announce the summary publication of findings based on its successful completion of Rochdale Paragon Group’s Integrated Vendor Risk Review and Assessment.

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@payrailz receives “exceptional” rating in its inaugural integrated vendor risk and due diligence assessment sourced independently by @RochdaleParagon

Rochdale Paragon is a leading provider of vendor management, enterprise risk management, compliance audits, strategic services and governance assessments for financial institutions. Their vendor assessment includes a standardized evaluation of major control domains and the risk and criticality evaluation for more streamlined comparison and consumption by credit unions engaged in vendor due diligence. This independent assessment includes an extensive review of policies and procedures to guide business operations in accordance with applicable best practices, rules and regulations, and operations and controls testing to validate their ability to safely and securely deliver their product to the market.

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“We have brought a new level of transparency and depth around the due diligence process never seen before, which is designed to bring fintech’s and credit unions together in an expedited and complimentary manner,” said Tony Ferris, CEO of Rochdale Paragon. “Under our Integrated Vendor Risk Review and Assessment process, we have helped to enable Payrailz with the ability to proactively and outwardly show interested buyers they are ready and able to perform while giving potential buyers an extremely high level of buying confidence when selecting a new business partner.”

The complete independent risk assessment and due diligence report is available through Payrailz’ partner Constellation’s Marketplace, the leading cloud-based marketplace enabling credit unions and innovative app developers to provide safe, reliable, and next-generation digital financial services.

“We are thrilled to have excelled at our assessment,” said Fran Duggan, CEO of Payrailz. “Our entire team works very hard to be sure our solution is safe and compliant at all times and it is our hope that this evaluation will give credit unions further peace of mind when partnering with Payrailz to provide our smarter payments experience to their members.”

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