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.

Video Testimonial

Introduction

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.

Challenges

Before partnering with Rivial, Logix faced several issues:

1. Weak Internal Risk Assessment: Regulations highlighted their insufficient risk assessment processes, necessitating a comprehensive and robust solution.
   
   
2. Comparative Evaluation: Despite exploring MetricStream and AuditBoard, Logixs found these platforms less integrable and adaptable compared to Rivial.
   
   
3. 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.

Objectives

Logix aimed to:

- Implement a robust and seamless cyber risk assessment platform.

- Enhance their cyber compliance and risk management processes.

- Build a long-term and responsive partnership for continuous improvement.

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.
  
  
• Ongoing Support: Responsive Service: Rivial’s customer service continually impressed Logixs with its immediate and effective responses, which significantly eased their compliance procedures.

Results

• Improved Risk Assessment: Rivial’s platform enabled Logix to gain comprehensive insights into their risk landscape, helping them address potential threats proactively.
  
  
• Regulatory Compliance: Logix could meet and surpass examiner expectations with Rivial’s structured and examiner-aligned risk methodology, simplifying the overall compliance process.
  
  
• Vendor Partnership: Rivial’s regular updates and client-oriented approach transformed Logix’s initial hesitation into a trustworthy and productive long-term 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.

Case Study Conclusions

Logix Federal Credit Union’s journey with Rivial underscores the transformative power of a well-chosen risk management platform. Through Rivial, Logixs addressed significant risk assessment weaknesses, shortened compliance processes, and built a strong, continuously evolving partnership that fortified their operational resilience and regulatory adherence.