ABA endorses VendSure, an information exchange for banks, vendors.

• Position: At Your Service - American Bankers Association - Fortrex Technologies Inc. - Brief article

THE ABA, THROUGH ITS SUBSIDIARY the Corporation for American Banking, has endorsed Fortxex Technologies' VendSure, the financial industry's first compliance information exchange. VendSure brings vendors and financial institutions together in a secure, online central compliance information repository. Due diligence information, which is essential to monitoring third-party providers, is securely and easily exchanged between financial institutions and their vendors, reducing the compliance burden for all parties.

Participating vendors securely upload compliance documents directly to VendSure, thereby sharing their compliance information with pre-approved subscribers. This streamlines due diligence and promotes collaboration between vendors and financial institutions. VendSure electronically notifies approved institutions when updated documents have been posted and are available, ensuring immediate knowledge of and access to up-to-date compliance information.

"By providing an up-to-date compliance information...