Multiple Banks Select Ncontracts FI® Because of Ease of Implementation and Powerful Risk Management Features

Financial Institutions are discovering a cost effective way to comply with FFIEC regulations, save money, and reduce internal expenses by selecting Ncontracts FI®.

Brentwood, TN (Vocus) September 29, 2010 -- Network Contract Solutions is pleased to announce that banks from all over the United States are choosing to use Ncontracts FI® to manage their vendor contracts and assist in compliance with FFIEC regulations. Within the last forty days, First Bancorp, Tennessee Commerce Bank, Pinnacle Bank, CapitalMark Bank and First South Bank have joined the growing number of financial institutions that are discovering the benefits of Ncontracts FI®. 'While we continue to add numerous clients to Ncontracts, it is gratifying to continue to receive great customer feedback,' said Network Contract Solutions, CEO, Michael Berman.

“Ncontracts FI® has been a valuable addition to our bank. The system is user friendly and implementation was a breeze, taking very little time from our personnel. We are extremely impressed with the risk management features,” said Mike McGregor, Executive Vice President and Chief Financial Officer at First South Bank.

Ncontracts FI® is the only solution that combines paralegal implementation services with automated email notifications, custom summaries of critical contract terms and quick web access to contractual terms. Ncontracts FI® protects financial institutions from financial loss that results from missed auto-renewals, missing insurance certificates, unknown post-termination obligations, and late fees. Effective contract management has been proven to result in administrative cost savings, the elimination of accounting errors, improved enforcement of service level and sales agreements, and maximizing vendors through better terms and pricing for services.

The risk management tools built into Ncontracts FI® provides a complete suite of tools for compliance with FFIEC regulations from sample letters, polices, and questions to the ability to track ratings by relevant risk category, including strategic, reputational, operational, transactional, credit, compliance, and other risks. These comprehensive risk management tools strengthen the compliance program and provide invaluable information to Ncontracts FI® clients.

About Network Contract Solutions
Network Contract Solutions of Brentwood, Tennessee provides business solutions that combine software and services. Its flagship product, Ncontracts® is a highly secure, web-based contract management solution that provides useful summaries, alert notifications, and custom reports. Far more than software, Ncontracts® features a through implementation process in which each business’ agreements are summarized and categorized by a two-tier paralegal review team to ensure the highest data integrity and system accuracy. For more information, visit www.ncontracts.com.

About First South Bank
First South Bank offers a wide range of banking services to businesses and individuals. Additional information about First South Bank and its full line of products and services can be found at www.1stsouth.com.

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