Latest News
Latest NewsStay up to date on the latest developments both at the Corporate and within the financial industry as a whole.
2021
January 20, 2021
Vizo Financial Partners with StrategyCorps for Share Draft Rewards Program
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.
January 5, 2021
Vizo Financial Delivers a Different Kind of Community Involvement in 2020
2020
December 17, 2020
Carolinas Credit Unions Sponsor 2020 Duke Children’s Radiothon & Help Spread the Message that “Kids Can’t Wait”
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.
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.
November 17, 2020
Central PA Credit Unions Rock & Raise for 2020 Pay 4 Play Radiothon
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.
October 27, 2020
Vizo Financial Holds Virtual Payments Conference in 2020
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.
October 13, 2020
CUSO Partners Announce Their 40th Signing Since March
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.
September 28, 2020
Vizo Financial’s First-Ever Virtual Financial Conference Receives Rave Reviews
September 25, 2020
Vizo Financial Holds Virtual Annual Meeting
September 1, 2020
Filene Launches Center of Excellence to Advance Data Analytics Within Credit Union System
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.
August 4, 2020
Vizo Financial’s 7th Annual Hot Dog Eating Contest Goes Virtual for Kids
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.)
July 28, 2020
Data Analytics and Future of Financial Services Next Focus Area in Filene’s Research Agenda
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?
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.
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.
June 11, 2020
Corporate Credit Unions Unite to Create Payments Consortium
May 5, 2020
New Partnership Between CU*Answers and MY CU Services Has Already Yielded 15 Signings
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.
May 4, 2020
MY CU Services Becomes First Customer for Aptys Solutions’ P2P Mobile Payments Solution, PayMōli
February 28, 2020
CU*Answers and MY CU Services Launch New Strategic Partnership
January 28, 2020
Community Involvement: Vizo Financial’s Mission to Make a Difference in 2019
January 27, 2020
Joan Moran Retires from Vizo Financial's Board of Directors
January 22, 2020
Corporate Partner: InterLutions’ Collaborative Employee Benefits Program, I-Care, Experiences Record Growth in 2019
January 14, 2020
Carolinas Credit Unions Come Together for Radiothon to Benefit Duke Children's Hospital
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