AUSTIN, Texas, Oct. 05, 2022 — Today Bankers Helping Bankers (BHB) announced a partnership with Trust Exchange, a collaborative compliance solution, to offer a secure and scalable vendor management platform.
Established by FedFis and the Independent Bankers Association of Texas (IBAT), BHB connects bankers nationwide so that they can identify solutions that drive earnings and diversify sources of income. Its mission is to elevate and unite community banks across the United States to compete with large, entrenched financial institutions.
Through the partnership with Trust Exchange, BHB will deliver on its promise to help community bankers realize technology-enabled efficiency in the evaluation and monitoring of their relationships with third-party service providers.
Trust Exchange’s groundbreaking platform allows companies to build secure, customizable networks to connect, collect and directly exchange mission-critical business information in real-time. Through the power of Trust Exchange’s platform, BHB participants will now be able to automate, monitor, and manage their third-party vendor risk in real-time.
“Community Banks are absorbing the impact of multiple global trends including the great resignation, increased regulation and automation,” says Edward Sullivan CEO of Trust Exchange. “Consumers have adopted collaboration platforms in the form of Uber, Waze and AirBnB. Trust Exchange is on the forefront of providing enterprise collaboration tools that enable organizations like BHB to leverage their institutional knowledge and collaborate with their peers to actualize value in the form of reduced cost, increased revenue and capacity re-capture.”
“Bankers Helping Bankers was built on the premise that it should be easier for bankers to find their ideal technology partners,” said IBAT President and CEO Christopher Williston. “Finding good partners is just half the battle. We believe that giving community bankers a network-enabled solution for maintaining and monitoring their third-party vendor relationships is an essential next step in our delivery of value.”
About Trust Exchange
Trust Exchange is a business information gateway that allows for the exchange and verification of mission-critical information with partners, suppliers and third parties. Trust Exchange is a cloud-based, secure, and scalable platform with high configurability and customization. With a unique approach of peer 2 peer crowdsourcing, Trust Exchange allows customers to automate compliance and regulatory management with high accuracy and real-time data. Trust Exchange is currently serving financial institutions, government, and businesses nationwide.
For more information, visit www.trustexchange.com
FedFis provides financial institutions fintech data analytics and a strategy system that tracks Financial, M&A, and Vendor data (including technology vendors) on every bank and credit union in the United States. FedFis is committed to “truth in banking”, by helping community bankers understand which products and services will best pair with their existing technology to drive the strategic outcomes for which they strive. They are first and foremost, a family business of precisionists. Fifth-generation bankers and technology experts with incredible depth and passion for the banking industry. For more information visit, www.fedfis.com.
About Independent Bankers Association of Texas
Formed in 1974, the Independent Bankers Association of Texas (IBAT) represents Texas’ community banks. The Austin-based group is the largest state community banking organization in the nation, with membership comprised of more than 2,000 banks and branches in 700 Texas communities. Providing safe and responsible financial services to all Texans, IBAT member bank assets range in size from $3 million to $16 billion, with combined assets statewide of $163 billion. IBAT member banks are committed to supporting and investing in their local communities. www.ibat.org