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Venminder on Third-Party Contracts

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Venminder on Third-Party Contracts

Brought to you by: Venminder



Venminder has a team of due diligence experts who can significantly reduce your vendor management workload. The firm addresses the tactical challenges of vendor management tasks such as collecting compliance documentation, analyzing a vendor’s financial health, deploying paralegals to assist with vendor contracts, reviewing a vendor’s SSAE 16, monitoring a vendor’s cybersecurity posture and much more. While financial institutions cannot outsource ownership of vendor risk, they can outsource the tactical work of assessing the risk. Venminder also has a software solution to organize, track and report findings to Senior Management, the Board of Directors and, ultimately, the examining bodies. It is a “must have” answer to meeting increasing regulatory requirements. The SaaS based software solution guides a user through critical processes such as risk assessments, due diligence requirements and task management. The firm was founded by Dana Bowers, who has been an entrepreneur and leader in the financial industry for more than 30 years. Prior to Venminder, Dana founded and led the team as CEO at iPay Technologies, where under her leadership iPay grew from a start-up in 2001 to one of the largest independent bill pay providers in the United States. When the company was sold to Jack Henry and Associates in 2010, iPay had a 40% market share, millions of subscribers and moved billions of dollars annually.