Wedbush Bank Selects TriNovus For Vendor Management Solution

Birmingham, AL - 28 July 2009

TriNovus, today announced that Wedbush Bank has selected TriNovus to provide its vendor management services through the use of the company’s BankerVMS product. Wedbush Bank is an entrepreneur and business bank headquartered in Los Angeles offering a wide range of financial solutions tailored to corporate customers, executives and professionals.

TriNovus’ BankerVMS will enable Wedbush Bank to better manage its vendors throughout relationship lifecycles and will help Wedbush Bank to reduce costs, meet compliance guidelines, improve contract terms and increase the value yielded from each vendor.

One aspect of BankerVMS that initially attracted Radhika Dholakia, Wedbush Bank’s chief banking officer, to the product was the vendor management software’s compliance piece.

“Wedbush Bank is very committed to meeting regulatory requirements as per FFIEC guidance,” said Dholakia. “When management evaluated BankerVMS, the compliance piece was a huge factor in our decision to implement the product.”

After initially previewing BankerVMS, Dholakia worked with TriNovus’ chief information officer, Terry Ray to review risk elements, build a test environment and provide suggestions for a change in the compliance scale to help develop a more robust compliance piece.

“Radhika’s input was very valuable in helping us to strengthen the risk management module of BankerVMS,” said Ray. “We value our collaboration with her and the rest of the Wedbush staff and feel that our symbiotic relationship has resulted in TriNovus delivering an even stronger product to the marketplace.”

Dholakia added, “The strength and breadth of the BankerVMS solution will help each TriNovus client easily control and monitor vendor risk.”

TriNovus’ relationship with Wedbush Bank marks the company’s expansion to the west coast.

“BankerVMS fulfills a great need in the vendor management space,” said David Brasfield, chief executive officer of TriNovus. “Banks are always going to be concerned with saving money and ensuring that they are meeting compliance requirements. BankerVMS helps them to do both.”

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