BRENTWOOD, TN, NOVEMBER 2, 2015 – The Texas Bankers Association (TBA) and its wholly-owned subsidiary TBA Services Company, Inc. (TBASCO) just announced the organization’s endorsement of Nvendor: Ncontracts’ vendor management software and services. This endorsement is a partnership that promises to strengthen the third-party vendor relationship and contract management capabilities of TBA member banks.
“Vendor management is something that is often siloed within several departments of the bank and lacks internal expertise,” said Wanda Stevens, executive director of TBA Services Company, Inc. and vice president of Texas Bankers Association. “As regulators begin to scrutinize third party contracts more closely TBA felt it was important to vet providers and offer contract management services to our Texas banks. An RFP and thorough due diligence process led to the TBA Services Company board’s endorsement of Ncontracts’ services.”
Ncontracts delivers a suite of comprehensive vendor, contract, and risk management software and services to a rapidly-expanding customer base of 550 financial institutions located in 38 states. The company combines full service implementation with a professional contract management application that provides banks with insightful summaries of their contracts, alert notifications, and robust compliance tools. Ncontracts features a two-tiered paralegal document review and implementation for maximum integrity and data accuracy.
“We are excited for the opportunity to work together with TBA and TBASCO to provide cost savings and better controls for vendor management than the traditional software model,” said Michael Berman. “Our goal is to assist banks in managing their vendors to decrease internal costs, reduce risk, and lessen external expenses.”
In today’s increasingly complex and regulated environment, TBA member banks now have a complete solution for vendor and contract management that is efficient, cost-effective, and protects their most critical business processes.