Data Facts Releases New Third Party Management Solution
Data Facts Inc. and Temenos have partnered together to offer banks and lenders a solution to help meet today's regulatory guidelines: Banker VMS, powered by Temenos, a comprehensive, third-party vendor management software. Banker VMS is a Web-based, central data repository for all vendor information and the business processes associated with them. This software will assist banks and lenders complete an ongoing annual supervision and monitoring of all critical vendors identified in the risk assessment, in an easy to view dashboard format.
“By offering our clients innovative solutions to industry regulations, we enable them to focus on the more profitable side of their business—closing more loans," said Julie Wink, executive vice president of Data Facts Inc. "We are committed to doing market research, and then offering our clients the best in technology products and compliance solutions, keeping them competitive in the marketplace.”
Banker VMS provides vendor management policies, due diligence checklist, risk management, and a disaster recovery product. The risk compliance feature is a uniform, systematic approach to vendor risk assessment based on FFIEC guidelines, keeping banks and lenders compliant with new industry regulations.