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.”