Compliance Information Exchange
GBA has endorsed VendSure ™ by Fortrex Technologies, the industry's first compliance information exchange. A secure, online central repository accessible to both financial institutions and vendors, VendSure facilitates due-diligence documentation exchange and alleviates the strain involved in the process of disseminating and collecting due-diligence data. Designed for banks of any size, the portal includes automatic document tracking, mapping and notifications capabilities. Learn how VendSure can help improve the efficiency of your bank's third-party due-diligence process and ease your bank's compliance burden below.
Key Features:
- Quickly and consistently disseminate and collect third-party due diligence data.
- Automatically track document expiration dates and ensure latest versions are available to clients.
- Instantly receive notifications for updated documents.
- Promptly receive document mapping and reference to specific compliance controls—no more searching for the information you need.
- Rapidly receive expert analysis and recommendations—no more interpreting SSAE16s.
- Conveniently browse to a convenient, secure portal to access due diligence documentation and expert analysis reports 24/7.
Program Benefits:
- Reduces the cost and complexity of meeting FFIEC vendor risk management requirements by outsourcing the due diligence gathering and review process.
- Maximizes compliance resources and ensures all vendor relationships are being examined.
- Assists financial institutions with the identification and tracking of specific risk items, enabling institutions to more efficiently manage and mitigate risk over time.
- Maintains all due diligence documentation in one centralized portal—easy upload for vendors, easy download for financial institutions.
- Ensures the most up-to-date compliance information is obtained and made easily available.
- Allows financial institutions to choose from a multi-tiered service offering to best fit the organization's needs.
- Integrated into Fortrex’s vendor management software, VendorPoint.
To schedule a demo of this solution, please contact Fortrex's Megan Solfronk at 877.367.8739. With questions about GBA's endorsement of VendSure, contact David Oliver, 404.420.2036, or Bogan Brannen, 404.420.2014.