Case Study: Balboa Thrift and Loan achieves streamlined third-party vendor management and time savings with Venminder

Balboa Thrift and Loan Association Enhances Third Party Risk Management

Balboa Thrift and Loan Association, a $300 million asset community bank in Chula Vista, CA, faced a decentralized, Excel-based third party risk management process with vendor information scattered across departments and growing auditor/examiner demands. To enhance due diligence and drive efficiency, Balboa partnered with Venminder and adopted its vendor management software and third‑party risk services.

Venminder implemented an automated, user‑friendly vendor management program—handling onboarding, contract tracking, document collection and vendor vetting (SOC/financial/BCP reviews)—and provided expert support and training. As a result, Balboa centralized “all things vendor,” gained one‑click reporting, improved audit readiness, and saved valuable time and staff resources after adopting Venminder.

Balboa Thrift and Loan

Beatrice Reyes

Corporate Coordinator, Vendor Management, Business Continuity and Training