GRAND RAPIDS, Mich.–AuditLink, the audit and compliance division of CU*Answers, and Fortress Plus, a fraud management solution provider, said they have signed a partnership agreement to bring comprehensive software and services in the management and prevention of fraud to credit unions.
AuditLink has been in the shared execution business for nine years performing daily log management of high risk activity for over 70 credit unions nationwide. The new partnership allows AuditLink to more than double the log management services they offer and increase their compliance offering today while paving the way for more, the company said.
“Over the last few years regulatory pressure has increased dramatically relative to credit unions monitoring higher risk transactional activity,” said Jim Vilker, VP of Professional Services and head of AuditLink. “Although our core has great tools we have seen a spike in credit unions requesting data exchanges to fraud management platforms and what we have seen is a true lack of data governance or an omnichannel approach to fraud.”
In 2016, CU*Answers kicked off an initiative on finding a partner to help its analytics team get a full understanding of analytical platforms but take these analytics to a new level, the company said.
“We just didn’t want a partner to teach us, we wanted one that would go into business with us,” said Vilker. “We found a partner in Fortress using their Rampart components to significantly expand this business with additional fraud management tools as well as the capability to monitor for credit unions beyond the CU*Answers client base.”
Fortress has assisted with the development of a whole new business line to cooperatively serve the credit union marketplace, according to CU*Answers.