Enterprise-wide risk management and protection
With increasing mandates from the government for greater regulatory oversight, it is vital for credit unions to understand the risks they face on a daily basis and how to properly mitigate those risks. Redi makes risk management a “living” part of your credit union’s operations and consolidates institution-wide risk assessment practices into one holistic view.
HOW IT WORKS
Redi enhances Symitar’s existing offering of solutions with the Redi compliance system. This system automates activities into digestible information credit unions can use to frequently, accurately, and
quickly evaluate their overall operational and financial risk. Redi can be run as either an in-house or hosted solution. It is available through a strategic partnership with Redi Enterprise Development, Inc., and encompasses a comprehensive suite of risk management functions including audit management, policy and procedure management, risk assessments, and complete vendor management functionality. Redi transforms the existing fragmented manual processes, enabling
credit unions to proactively manage exposure rather than react to regulatory mandates and take preventative measures from a single, user-intuitive source.
Core compatibility: Episys® and CruiseNet®
What It Does
- Consolidates disparate risk management activities across the entire enterprise into digestible information.
- Helps credit unions more frequently, accurately, and quickly evaluate their overall operational and financial risks.
- Encompasses audit management, policy and procedure management, automated risk assessments, and complete vendor management.
- Provides a web-based application designed in Java, and a enterprise risk system delivered completely via Internet Explorer®.
- Sorts system data using a Microsoft® SQL Server® database.
- Offers specific risk programs to help regulators as well as product offerings and activities.
- Updates and expands based on the collective knowledge of the entire user base and provides new data for immediate download to help credit unions aggressively evaluate all possible threats.
- Operates either in-house or as a hosted solution.
What It Does For You
- Significantly reduces risks across the entire enterprise.
- Enables credit unions to assess risk from any perspective that meets their needs.
- Takes risk assessment and management processes out of three-ring binders and makes them a living part of operations.
- Minimizes the implementation impact from an IT standpoint and reduces ongoing support efforts for credit unions.
- Enables credit unions to focus more on business, and less on the management of enterprise-wide risk data and activities.
- Helps ensure credit unions' long-term successes and survival.