Credit Union Addresses Regulatory Pressure with Preparis
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Maintaining Compliance for a Credit Union with Updated Business Continuity Processes
Financial institutions face strict regulations around business continuity and must pass regular audits to maintain continuity. This member-owned federally insured credit union in New York serving more than 30,000 members in seven counties had 13 departments involved in business continuity with more than 20 processes in each.
Problem
This federal credit union used a spreadsheet for its business impact analysis (BIA) and another messaging tool. It needed to completely refresh and update its business continuity plans to meet reporting requirements and pass audits. Most important to its leadership was finding a solution that would solve the feelings of being overwhelmed among team leads.
Solution: Preparis
The credit union saw a demo of Preparis and appreciated its centralized approach to alerting, planning, and incident management. They also saw value in adding consulting hours to meet upcoming deadlines.
Results
A Preparis consultant immediately reviewed and restructured all of the credit union’s current plans while the credit union engaged in trainings and implementation. Preparis consultants conducted two live sessions with the credit union’s business continuity leaders to train them on both business continuity and Preparis, leaving them feeling confident in their business continuity solution and ability to meet state and federal requirements.
