TriNovusâ 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 Bankâs chief banking officer, to the product was the vendor management softwareâs compliance piece.
âWedbush Bank is very committed to meeting regulatory requirements as per FFIEC guidance,â said Dholakia. âWhen management evaluated BankerVMS, the compliance piece was a huge factor in our decision to implement the product.â
After initially previewing BankerVMS, Dholakia worked with TriNovusâ 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.
âRadhikaâs input was very valuable in helping us to strengthen the risk management module of BankerVMS,â said Ray. âWe 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.â
Dholakia added, âThe strength and breadth of the BankerVMS solution will help each TriNovus client easily control and monitor vendor risk.â
TriNovusâ relationship with Wedbush Bank marks the companyâs expansion to the west coast.
âBankerVMS fulfills a great need in the vendor management space,â said David Brasfield, chief executive officer of TriNovus. âBanks are always going to be concerned with saving money and ensuring that they are meeting compliance requirements. BankerVMS helps them to do both.â