Case Study: Cogent Bank streamlines vendor risk management with Ncontracts Venminder

Cogent Bank centralizes nearly 200 vendors with Ncontracts

Cogent Bank, a financial institution with $2.4 billion in assets, faced significant operational challenges in managing its nearly 200 vendor relationships. The bank's manual, spreadsheet-driven processes for tracking documentation, risk assessments, and regulatory reporting were unsustainable and inefficient. They needed a centralized solution to streamline their third-party risk management (TPRM) program and provide the robust reporting capabilities required by regulators.

The bank implemented the Venminder platform from Ncontracts. This solution provided a centralized system for risk assessments, documentation storage, and stakeholder collaboration. As a result, Cogent Bank can now generate exam-ready reports in minutes instead of days, has centralized all vendor information, and has streamlined coordination with internal experts. The Venminder platform has positioned the bank's TPRM program for significant future growth without a proportional increase in administrative overhead.

Cogent Bank