CU DIRECT SUCCESSFULLY COMPLETES SSAE16 SOC I AUDIT OF ITS WEB-BASED AUTO LENDING NETWORK AND PROGRAM
Ontario, CA, January 16, 2013 -- CU Direct Corporation (www.cudirect.com), the nation’s leading provider of lending solutions to the credit union industry has announced that the company has successfully completed a SSAE 16 SOC I audit of its controls related to the company’s CUDL3 and CUDL DApp systems. This is the seventh consecutive year that the Credit Union Service Organization (CUSO) has achieved SSAE 16 SOC I certification of its web-based auto lending network and program.
The SSAE 16 SOC I certification verifies that the company has sufficient controls in place in areas such as change management, customer service and development practices. The company’s certification also attests to the accuracy of the controls description, as well as the thoroughness and accuracy with which controls are designed, implemented and monitored.
CU Direct's successful completion of the SSAE 16 SOC I audit process demonstrates how its control objectives, activities and systems function in accordance with industry best practices. The certification also demonstrates CU Direct's commitment to ensuring that the CUDL3 and CUDL DApp platforms’ service and support procedures exceed operational quality and efficiency standards.
The examination was conducted by Certified Public Accountants McGladrey LLP, and conforms to the standards established by the American Institute of Certified Public Accountants (AICPA). SSAE 16 SOC I (Statement on Standards for Attestation Engagements No. 16, Service Organization Control I) is an internationally recognized auditing standard developed by the AICPA to demonstrate that a service provider has adequate controls and safeguards in place when they host or process data belonging to their customers.
CU Direct’s objective for having the SSAE 16 SOC I review was to once again achieve independent confirmation of the soundness and security of the CU Direct Systems, which enables members to access credit union financing information at auto dealerships through web-based platforms.
“The SSAE 16 SOC I certification is very important to us as an organization, as it is verification that we have successfully incorporated the necessary processes and safeguards to protect the data and assets our credit union partners entrust us with,” stated Gene Oishi, CU Direct’s vice president of operations. “We are committed to maintaining the internal policies and procedures necessary to ensure our customer’s transactions are fully protected.”
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About CU Direct Corporation
Established in 1994, CU Direct Corporation has helped the credit union industry fund over $120 billion loans by being the nation’s leading lending solution provider for credit unions. Representing more than 1,000 credit unions, CU Direct specializes in solutions that help credit unions generate loans, manage risk and provide value to members. CU Direct Corp. offers a diverse, extensive library of products and services designed to help credit unions advance their lending programs and achieve overall portfolio success. Solutions include CUDL, Lending Insights, Lending 360, CUDL Retail, Vero, and its suite of auto buying products. For more information about CU Direct Corporation visit www.cudirect.com.