Case Study

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Enhancing Cyber Risk Management and Compliance - Logix Federal CreditUnion's Experience with the RivialPlatform

Logix Federal Credit Union, a prominent player in Southern California's financial sector with nearly $10 billion in assets, caters to the market north of downtown Los Angeles. With a history spanning almost 90 years, Logix has transitioned into a digital-centric credit union while focusing on mortgage businesses and various lending and investment products. Since 2017, Logix has partnered with Rivial to enhance their risk management strategies, ensuring they meet regulatory standards and elevate their operational efficiency.

Daniel Tschopp SVP Enterprise Risk Managegement Logix Federal Credit Union

Impacts & Highlights:

Enhanced Risk Management: Logix adopted the Rivial platform, significantly improving their cyber risk assessment capabilities, addressing regulatory concerns, and ensuring a thorough and continuous assessment methodology.
Streamlined Compliance Operations: Integrating Rivial facilitated better organization and visibility of compliance-related tasks, allowing Logix to more efficiently meet examiner expectations and regulatory requirements.
Strengthened Vendor Relations: Logix evolved from a weak internal cyber risk assessment to having a robust system through Rivial, benefiting from continuous improvements and responsive customer service.

The Challenges

Before partnering with Rivial, Logix faced several issues:

Weak Internal Risk Assessment: Regulations highlighted their insufficient risk assessment processes, necessitating a comprehensive and robust solution.
Comparative Evaluation: Despite exploring MetricStream and AuditBoard, Logixs found these platforms less integrable and adaptable compared to Rivial.
Time and Expertise Constraints: With a lack of specialized knowledge and resources, Logix needed a solution that could provide a clear roadmap and support for their cyber risk management needs.

Implementation Journey

Initial Evaluation

After regulatory recommendations, Logix assessed multiple solutions in 2017 and decided on Rivial due to it’s methodology, credit union expertise, superior integration and user-friendly implementation.

Implementation Process

Rivial provided comprehensive support and guidelines, ensuring a smooth transition and immediate benefits in risk assessment and management visibility.

Responsive Service

Rivial’s customer service continually impressed Logixs with its immediate and effective responses, which significantly eased their compliance procedures.

Key Features & Benefits

Visibility and Integration

Rivial provided Logix with an integrated platform that enhanced risk management visibility and control, streamlining various processes.

Structured Compliance

With a platform designed to align with examiner checklists, Logix found it easier to map and manage compliance tasks.

Custom Support

The proactive and responsive customer service offered by Rivial ensured any issues were promptly addressed, fostering a strong and reliable partnership.

Key Features & Benefits

Visibility and Integration

Rivial provided Logix with an integrated platform that enhanced risk management visibility and control, streamlining various processes.

Structured Compliance

With a platform designed to align with examiner checklists, Logix found it easier to map and manage compliance tasks.

Custom Support

The proactive and responsive customer service offered by Rivial ensured any issues were promptly addressed, fostering a strong and reliable partnership.