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Latest News

Stay up to date on the latest developments both at the Corporate and within the financial industry as a whole.

2021

May 11, 2021

The Cost of Compliance in 2021
By Michael Berman, Founder & CEO, Ncontracts

Compliance isn’t cheap—but how much is it really costing the financial services industry and financial institutions like yours?

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April 21, 2021

It’s Risk Gone Virtual at Vizo Financial’s 2021 Risk Management Conference

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April 19, 2021

Making the Journey from Business Continuity to Business Resiliency
By Mark Clarke, business continuity administrator, Vizo Financial

It all happened so fast. One day, we started hearing about a new virus on the news and within a few short weeks, much of the world was in complete lockdown. That meant employees couldn’t return to the office, as something as simple as having a two-minute watercooler conversation could result in dire health consequences. It was a panic-filled time full of remote work transitions, branch closures and concern for staff and member safety…plus a whole lot of cleaning wipes and buckets of hand sanitizer.

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April 5, 2021

How to Lighten Your Compliance Management Workload
By Michael Berman, Founder & CEO, Ncontracts

Compliance management is a never-ending job. As soon as one regulation is implemented or training or testing is completed, another one immediately takes its place.

It can be overwhelming, but there are ways to lighten your compliance management workload while still staying compliant and on task.

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March 18, 2021

Vizo Financial CEO Will Bid Farewell to Corporate in June 2021

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March 8, 2021

Building Up the Three Lines of Defense in Your CMS
By Michael Berman, Founder & CEO, Ncontracts

When it comes to compliance, there is a good reason for three lines of defense. They ensure that a bank’s lending compliance management system (CMS) is effectively guarding the bank against unnecessary risk.

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March 2, 2021

Vizo Financial Raises $1,750 for Local Food Banks Through Meals Around the Corporate Initiative

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January 20, 2021

Vizo Financial Partners with StrategyCorps for Share Draft Rewards Program

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January 6, 2021

What Happens When the Three Lines of Defense Fail: Inside JPMorgan’s $250 Million Fine
By Michael Berman, Founder & CEO, Ncontracts

JPMorgan Chase Bank is on the hook for a $250 million civil money penalty after the Office of the Comptroller of the Currency (OCC) found the bank failed to maintain adequate internal controls and internal audit over its fiduciary business—an unsafe or unsound practice.

What exactly went wrong? It looks like weaknesses across the three lines of defense.

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January 5, 2021

Vizo Financial Delivers a Different Kind of Community Involvement in 2020

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2020

December 17, 2020

Carolinas Credit Unions Sponsor 2020 Duke Children’s Radiothon & Help Spread the Message that “Kids Can’t Wait”

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December 7, 2020

Inside a Big Bank’s $60 Million Fine for Vendor Mismanagement
By Michael Berman, Founder & CEO, Ncontracts

Earlier this year the Office of the Comptroller of the Currency hit Morgan Stanley with a $60 million civil money penalty for faulty vendor management practices that potentially exposed sensitive customer data. The bank also faces seven class-action lawsuits accusing it of negligence.

What went wrong and how do you avoid the same fate? Read on to find out.

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December 3, 2020

Vendor Management in a Pandemic: A Proactive Approach
By Belinda Mumma, enterprise risk management coordinator, Vizo Financial

Has COVID-19 made managing your vendor management hard to, well, manage? Say that five times fast! Honestly, it might be easier than trying to deal with vendor management during a pandemic that has changed just about everything we once knew to be “normal.” Working from home, social distancing and relying heavily on technology are just some of the many things that have added layers of difficulty to managing and dealing with your credit union’s vendors.

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November 17, 2020

Central PA Credit Unions Rock & Raise for 2020 Pay 4 Play Radiothon

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November 6, 2020

6 Lessons Learned from a Bank’s $400 Million Mistake
By Michael Berman, Founder & CEO, Ncontracts

What does it take to get a $400 million civil money penalty for data governance, risk management, and internal controls resulting in unsafe or unsound practices?

That’s what everyone is asking since the Office of the Comptroller of the Currency hit Citibank with a $400 million civil money penalty while the Fed released its own enforcement action against the megabank earlier this month.

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October 27, 2020

Vizo Financial Holds Virtual Payments Conference in 2020

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October 14, 2020

Under the Microscope: Elder Financial Abuse and the Role of Your Credit Union
By Cindy Hagan, compliance administrator, Vizo Financial

Meet Edna. She’s a very sweet 68-year-old woman who just retired from a long career as a school bus driver. She’s a mother, a grandmother, lover of cats, avid player of the lottery, community advocate and maker of the best macaroni and cheese you’ve ever tasted. She recently received a letter in the mail informing her that she’d won a lottery in the amount of $15,000 – how exciting!? But there’s a catch. The lottery company needs her to send money to cover the fees to process her winnings before they can send her a check. Edna complies. Now in addition to being the bus driver, mother and cat enthusiast everyone knows and loves, Edna has also become a victim of elder financial exploitation.

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October 13, 2020

CUSO Partners Announce Their 40th Signing Since March

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September 30, 2020

Does Your BCP Have a BCP? And other disaster recovery concerns
By Michael Berman, Founder & CEO, Ncontracts

If there has ever been a year for contingency plans, 2020 is it. Many financial institutions have activated their business continuity plans (BCP) due to the COVID-19 pandemic. Now as hurricanes, wildfires, and other natural disasters disrupt business further, FIs are finding themselves activating a second BCP on top of the one already in place.

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September 28, 2020

Vizo Financial’s First-Ever Virtual Financial Conference Receives Rave Reviews

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September 25, 2020

Vizo Financial Holds Virtual Annual Meeting

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September 1, 2020

Filene Launches Center of Excellence to Advance Data Analytics Within Credit Union System

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August 31, 2020

Anatomy of a Phishing Email – What to Reel In and What to Let Go
By Robert Gentry, information security analyst, Vizo Financial

Everyone has a favorite pastime, right? For some it’s fishing. For hackers, it’s phishing. There may only be two letters of difference between the two, but their meanings couldn’t be further apart. We all know what fishing is, but phishing is a different animal entirely. It’s the act of a cyberattacker looking to gain confidential information and/or access to private networks via an avenue we all use every day – email.

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August 4, 2020

Vizo Financial’s 7th Annual Hot Dog Eating Contest Goes Virtual for Kids

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August 3, 2020

Did Your Vendor Need PPP Funds?
By Ncontracts

Did one of your third-party vendors need Paycheck Protection Program (PPP) funds?

This is the question everyone is asking since the Small Business Administration (SBA) released the list of businesses that took PPP loans. (The Washington Post’s PPP searchable database includes companies that borrowed more than $150,000.)

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July 28, 2020

Data Analytics and Future of Financial Services Next Focus Area in Filene’s Research Agenda

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July 28, 2020

A New Age of Cybersecurity: The Best & Worst of Times
By John Cuneo, information security director, Vizo Financial

When Charles Dickens published A Tale of Two Cities in 1859 and introduced us to the infamous opening line, “It was the best of times, it was the worst of times…,” there’s no way he could’ve known how those words would resonate 160 years later. With the COVID-19 virus raging throughout the world and our once seemingly normal lives turned upside down, things are certainly surreal. And with so much unknown territory being brought to light because of the pandemic, it has us truly wondering, are we living in the best of times or the worst of times?

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July 10, 2020

Third-Party Vendors & Compliance Risk: 10 High-Risk Compliance Situations & the Due Diligence Documentation Mistakes That Make Them Hard to Discover
By Michael Berman, founder and CEO of Ncontracts

The only thing worse than getting in trouble for making a mistake is getting in trouble when somebody else makes a mistake. That’s the situation financial institutions face when a third-party vendor acting on behalf of the bank doesn’t comply with laws and regulations.

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June 12, 2020

Playing the Post-Pandemic Game: Questions You Need to Be Prepared For
By Mark Clarke, business continuity administrator, Vizo Financial

“Survey says…”
“It’s time for Final Jeopardy!”
“We’re ready for the Showcase Showdown!”

Don’t these lines bring back memories from some of our favorite game shows? Chances are, you read those renowned statements from Family Feud, Jeopardy! and The Price is Right, and automatically knew the context because we are so familiar with all these nostalgia-evoking game shows. But there’s a new game in town, and it’s inherently more difficult than any other we’ve ever come across – The Post-Pandemic Game.

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June 11, 2020

Corporate Credit Unions Unite to Create Payments Consortium

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May 5, 2020

New Partnership Between CU*Answers and MY CU Services Has Already Yielded 15 Signings

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May 5, 2020

Cracking the Password Code…So Hackers Can’t Crack Yours
By Mike Bechtel, information security analyst, Vizo Financial

Remember the sound of Charlie Brown’s teacher’s voice from Peanuts? If you concentrate hard enough, you can hear that “wah wah wah” all over again. Is that the same thing you hear when people start talking about passwords as well? It’s been drilled into our heads and discussed so many times, many of us probably tune out the voice and hear only the “wah wah wah,” causing us to miss important information about password management.

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May 4, 2020

MY CU Services Becomes First Customer for Aptys Solutions’ P2P Mobile Payments Solution, PayMōli

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February 28, 2020

CU*Answers and MY CU Services Launch New Strategic Partnership

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January 28, 2020

Community Involvement: Vizo Financial’s Mission to Make a Difference in 2019

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January 27, 2020

Joan Moran Retires from Vizo Financial's Board of Directors

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January 22, 2020

Corporate Partner: InterLutions’ Collaborative Employee Benefits Program, I-Care, Experiences Record Growth in 2019

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January 14, 2020

Carolinas Credit Unions Come Together for Radiothon to Benefit Duke Children's Hospital

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