MINNEAPOLIS, MN, February 9, 2018 - Argos Risk, a leading provider of Third-Party Risk Intelligence (TPRI) services for managing and monitoring the financial viability and overall health of third-party relationships, is partnering with the Network Service Corporation (NSC), a wholly-owned subsidiary of the Minnesota Credit Union Network (MnCUN). Through the NSC, MnCUN will now provide a vendor risk and business health assessment solution to the state’s 113 credit unions by offering Argos Risk’s AR Surveillance solution.
MnCUN is the state trade association for Minnesota’s credit unions. The network works to ensure the success, growth and vitality of credit unions by creating a positive public environment through leadership, political advocacy, education, awareness and regulatory assistance. The NSC forms strategic endorsement relationships with vendors to help credit unions best serve their members.
“The Network Service Corporation seeks to develop relationships with service providers that will help the state’s credit unions meet the ever-evolving financial needs of their members,” said Network Service Corporation Chief Operations Officer John Ferstl. “We are proud to add Argos Risk Services as a strategic partner dedicated to providing effective business management tools to financial institutions.”
Argos Risk’s AR Surveillance solution leverages more than 10,000 data points to assign risk scores to an organization’s business partners. It automatically generates and sends proactive alerts about significant updates from those partners’ operations, such as key executive changes, lawsuits, liens, mergers, acquisitions and any other material news and events. The service reduces the time and manual processes typically required for proper vendor due diligence and management.
“We understand our affiliate partners play an instrumental role and together we work as one to ensure our customers achieve outstanding service” said Lori Frank, President and Chief Executive Officer of Argos Risk. “AR Surveillance helps strengthen compliance and mitigate risk as auditors continue to ask questions about how credit unions manage their third-party relationships.” Frank continued, “by leveraging our automated solution, MnCUN will be able to augment their services by efficiently and time-effectively monitoring the health of their key vendor relationships.”
About Argos Risk
At Argos Risk, we are experts in financial risk management services to fulfill a need for timely and comprehensive risk mitigation knowledge. We provide innovative and affordable subscription services that help companies manage the risks associated with their third-party relationships; such as vendors, ACH/RDC originators, and direct and indirect lending clients. For additional information, visit www.argosrisk.com.
About Minnesota Credit Union Network
The Minnesota Credit Union Network (MnCUN) is the statewide trade association that works to ensure the success, growth and vitality of Minnesota credit unions. With nearly $20 billion in assets, Minnesota credit unions are local, trusted financial cooperatives that serve more than 1.7 million members at almost 400 branch locations around the state. As not-for-profit institutions, credit unions give back to the communities they serve. For more information, visit mncun.org
