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ABA: The American Bankers Association
Industry News
  • January 16, 2024

Ncontracts Announces AI-Powered Contract Management Tool for Financial Institutions to Improve Vendor Management and Save Money

Brentwood, Tenn. - January 16, 2024

Ncontracts, the leading provider of integrated compliance, risk, and vendor management solutions to the financial services industry, announces the launch of its new AI-powered Ntelligent Contracts Assistant module within Nvendor, reducing hours of arduous contract reviews into just minutes.

The Ntelligent Contracts Assistant harnesses artificial intelligence trained by Ncontracts’ legal and contract management experts to quickly extract key information from third-party vendor contracts and agreements, making it possible for financial institutions to easily:

  • Score contracts for risk and adherence to regulatory requirements
  • Generate summaries of key contract terms
  • Automatically create alerts for key dates
  • Search contracts for key terms and provisions (including renewal dates and price increases)
Read the Press Release
Ncontracts

Ncontracts® is a leading provider of vendor and contract management services for the financial institution industry. Ncontracts combines turnkey vendor management services with a comprehensive and fully-customizable vendor and contract management application. Insightful summaries of vendor contracts and alert notifications assist clients in proactively managing vendor relationships. And with Ncontracts’ robust compliance services, clients can easily monitor and assess vendor risk and respond quickly to regulator inquires and audit demands of examiners. Together, these services and features give clients the ability to reduce expenses, enhance profitability, and improve internal efficiencies. For more information, visit www.ncontracts.com or call (888) 370-5552.

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