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02/14/2017

Member News

CSI Implements Industry-Leading Vendor Due Diligence Tool to Simplify Customers’ Compliance Reporting

CSI Implements Industry-Leading Vendor Due Diligence Tool to Simplify Customers’ Compliance Reporting

PADUCAH, Ky., Feb. 14, 2017 – Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end financial technology solutions, has implemented an expanded compliance reporting tool for its WatchDOG® Elite customers that allows them to quickly and thoroughly validate CSI’s authenticity as a proven, secure third-party technology provider. For these customers, CSI now utilizes the Standardized Information Gathering (SIG) questionnaire, which is a holistic tool for third-party risk management assessments that include cybersecurity, IT, privacy, data security and business resiliency controls.

Consisting of more than 1,600 questions that have been compiled, vetted and updated by compliance and audit professionals annually since 2005, the SIG provides an objective report of a vendor’s compliance and security posture in alignment with current regulatory and industry standards and guidelines. With its customers facing increasing scrutiny from auditors on vendor risk management, CSI implemented SIG methodology to deliver more detailed due diligence that goes beyond standard reporting. CSI’s use of the questionnaire not only ensures it’s measuring itself against industry-established best practices, but also enables customers to have easy access to reporting that satisfies their vendor due diligence requirements.

"Through our customer-centric focus as an organization, we understand the critical nature of high-quality vendor due diligence within the fintech and regtech industries,” said Paul Koziarz, president of CSI Regulatory Compliance. “Our customers must provide detailed reporting to their auditors, and the robust nature of the SIG fully addresses the controls within our WatchDOG Elite environment.”

CSI currently offers its SIG report to its watch list screening customers within its Regulatory Compliance division, while it works to implement its availability across the entire organization. To ensure full transparency into its due diligence program, CSI allows these customers to request a full copy of its SIG report via a link on its website.

“At CSI, we understand the changing regulatory landscape, so we’ve adopted a world-class vendor due diligence experience for our sanctions screening customers,” said Steve Powless, chief executive officer of CSI. “These organizations face strict requirements from their auditors, and the SIG demonstrates our proactive, on-going commitment to mitigating third-party risk and maintaining the highest levels of vendor due diligence for our customers.”

About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet solutions, payments processing, print and electronic distribution, and regulatory compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Service Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.

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