Archer Technologies Joins the Financial Institution Shared Assessments Program
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Archer enhances its BITS-certified solutions to enable financial institutions to evaluate the security controls of IT service providers
OVERLAND PARK, Kan., Jan. 30 /PRNewswire/ -- Archer Technologies (Archer), a leader in enterprise risk and compliance management solutions, announced today that it will incorporate the Standardized Information Gathering (SIG) Questionnaire and the Agreed Upon Procedures (AUP) of the Financial Institution Shared Assessments Program into its market-leading Policy Management, Risk Management and Vendor Management solutions.
The Standardized Information Gathering Questionnaire allows financial institutions to create a detailed snapshot of the security controls in place at service provider locations. The Agreed Upon Procedures document provides 45 control points that can be used to create detailed reports.
"We commend Archer for licensing the content of the Shared Assessments Program," said Catherine A. Allen, CEO of BITS. "By incorporating industry standards for security into its products, Archer demonstrates its commitment to meeting the security needs of its financial institution clients." Allen is also chairman and CEO of The Santa Fe Group, a strategic consulting company that manages the Shared Assessments Program for BITS.
The Financial Institution Shared Assessments Program was created by BITS, a nonprofit, CEO-driven industry consortium whose members represent 100 of the largest financial institutions in the United States. BITS developed the Financial Institution Shared Assessments Program to assist financial institutions in streamlining the service provider assessment processes.
Archer Technologies will include version 2.0 of the Standardized Information Gathering Questionnaire and Agreed Upon Procedures into the next release of its enterprise risk and compliance management solutions.
"By adding SIG and AUP to Archer's control question bank and industry reference library, Archer Technologies will offer financial institutions an effective, cost-efficient process for performing service provider risk assessments and measuring their compliance in accordance with the strictest industry standards," said Jon Darbyshire, president and CEO of Archer Technologies. "Our solutions have been BITS-certified since 2003; adding content from the Financial Institution Shared Assessments Program furthers our mission to provide our customers with the most integrated approach to effectively manage their enterprise risk and compliance processes."
Powered by the BITS-certified Archer SmartSuite Framework, Archer's solutions provide a highly customizable infrastructure for managing and automating risk and compliance processes enterprise-wide. Through deep integration, Archer's solutions empower organizations to manage multiple initiatives, including policy exception processing, risk assessments and vendor relationship tracking, through a consolidated, robust application. With Archer, organizations can better manage enterprise risks, demonstrate compliance, automate critical business processes, and obtain a complete view of their corporate risk and security controls.
About BITS
BITS was created in 1996 to foster the growth and development of electronic financial services and e-commerce for the benefit of financial institutions and their customers. A nonprofit industry consortium that shares membership with The Financial Services Roundtable, BITS seeks to sustain consumer confidence and trust by ensuring the security, privacy and integrity of financial transactions. BITS works as a strategic brain trust to provide intellectual capital and address emerging issues where financial services, technology and commerce intersect, acting quickly to address problems and galvanize the industry. BITS' activities are driven by the CEOs and their appointees-CIOs, CTOs, Vice Chairmen and Executive Vice Presidents-who make up the BITS Advisory Board and BITS Advisory Council. For more information, go to www.bitsinfo.org .
About Archer Technologies
Archer Technologies is a leading provider of automated enterprise risk and compliance management solutions. With more than five million licensed users, Archer enables highly regulated organizations and government agencies to reduce enterprise risks, manage and demonstrate compliance, automate business processes, and gain visibility into corporate risk and security controls. Archer is the only vendor that delivers highly flexible out-of-the-box solutions built on the Archer SmartSuite Framework that can be easily tailored to meet an organization's unique risk and compliance requirements for total IT Governance. For more information, visit www.archer-tech.com .
Source: Archer Technologies
CONTACT: Erica Camilo of Horn Group, Inc., +1-781-356-7161, or ecamilo@horngroup.com, for Archer Technologies
Web site: www.archer-tech.com/
http://www.bitsinfo.org/
