Easy-to-use solution provides superior view into relationships that improves operational efficiencies
FAYETTEVILLE, Arkansas and ELIZABETHTOWN, Kentucky — April 29, 2014 – Signature Bank of Arkansas, a customer-centric, $500M, privately held financial institution has chosen Venminder, a next-generation vendor management solution powered by financial technology company Digital Compliance based in Elizabethtown, Kentucky.
With Venminder, Signature Bank can remain engaged and active in the due diligence and maintenance of their vendor relationships without the burden of a cumbersome system. Signature Bank understands that developing a strong discipline in vendor management has a great impact on the bottom line and that the reduction in operational spend can be significant, opening up budget dollars for investing in new, revenue generating initiatives. Venminder enables Signature Bank to review and retain the best third-party relationships to carry out their mission.
“We had outgrown our previous system. Now with Venminder, I won’t have to spend time explaining “how” to perform certain tasks within the applications. Venminder is so user-friendly that it barely requires any training. Venminder provides a far superior view of the total vendor relationship, so now my decisions will be better-informed.” said Adam Hedman, Signature Bank, Vendor Relations.
“We are proud to partner with Signature Bank of Arkansas. It was evident from our very first encounter that this is a forward-thinking bank that understands the significance of managing the partners they rely on to run the bank. Signature Bank has been building their vendor management program for several years now and we are pleased to bring them a solution that is easy for them to use and helps them evolve to the next level.” said Kelli Schultz, Digital Compliance, President & CEO.
Together, Signature Bank and Digital Compliance are committed to the values brought by a strong vendor management program to run a healthier bank.
About Venminder by Digital Compliance
Digital Compliance serves financial institutions in the complex vendor management eco-system, with Venminder, a cloud technology solution with flexible modules for risk assessment, contract management, and exam prep. Digital Compliance also provides third-party document collection and executive summary services from industry experts. Please visit www.digitalcomply.com or call (270) 506-5140.
About Signature Bank of Arkansas
Signature Bank of Arkansas was established in 2005 by a team of well-respected and experienced local bankers who had the dream of building a bank where decisions were made locally and in the best interests of not only the bank but customers and team members as well. To learn more visit, https://www.sbofa.com/.