True Digital partners with Ncontracts to provide better and faster vendor data for banks and credit unions
--Uniting for enhanced vendor optimization--
AUSTIN, TEXAS (August 22, 2023) — True Digital Group, provider of the industry’s first digital vendor optimization network that supports financial institutions in their discovery, implementation, and monitoring of technology vendors, today announced a strategic partnership with Ncontracts, the leading provider of integrated vendor, compliance, and risk management solutions to the financial industry. The partnership will provide banks and credit unions with a more robust and comprehensive vendor management and optimization solution.
Through this partnership, True Digital and Ncontracts will collaborate closely on their complementary solutions to enhance the structure and organization of vendor information, benefiting their financial institutions. Banks and credit unions that use Ncontracts will be able to share their data with True Digital in a more seamless fashion, eliminating the need for financial institutions to manually enter vendor or product information. They will also be able to have their existing records cleaned and have their vendor information maintained and updated on a go-forward basis.
Michael Berman, CEO of Ncontracts, said, “Our collaboration with True Digital empowers financial institutions, giving them the ability to easily identify and select the most viable vendors as well as connect with peer institutions. Our Nvendor solution complements the True Digital platform with efficient vendor risk management software, services, and automation that supports every step of the vendor management life cycle to reduce third-party risk. By automating these tasks, banks and credit unions increase efficiencies while uncovering opportunities to reduce internal and external vendor costs.”
By forming this collaboration with Ncontracts, True Digital can offer a turnkey integration onboarding process for their bank and credit union customers. Further, the alliance creates a more comprehensive ecosystem for vendor management and optimization.
“Ncontracts shares our vision to help banks and credit unions leverage technology more effectively,” said True Digital Group Co-founder and CEO, Patrick Sells. “We are committed to making it easier for institutions to discover and partner with the right technology vendors. By combining our strengths, we can now provide a more comprehensive solution.”
About True Digital Group
True Digital Group is the provider of the True Digital Platform, a collaborative network designed for banks and credit unions to optimize vendor relationships. By utilizing this insights-driven platform, financial institutions can discover new vendors, manage their vendor relationships, due diligence and monitor vendors, and connect with their peers across the industry. To learn more about True Digital, go to truedigitalgroup.com and connect on LinkedIn.
About Ncontracts
Ncontracts provides integrated risk management and compliance software to a rapidly expanding customer base of over 4,000 financial institutions, mortgage companies, and fintechs in the United States. The company’s powerful combination of software and services enables financial institutions to achieve their risk management and compliance goals with an integrated, user-friendly cloud-based solution suite encompassing vendor, organizational, audit, and compliance risk management. The company was named to the Inc. 5000 fastest-growing private companies in America for the 5th consecutive year. Visit www.ncontracts.com or follow the company on LinkedIn and Twitter for more information.
