TriNovus is excited to announce that Merchants Bank of Alabama has signed with TriNovus for BankRISK.
BankRISK is a comprehensive stress test and risk management solution that proactively evaluates the effects of adverse economic conditions on a bank’s loan portfolio. Stress testing enables a bank to project future portfolio strengths and weaknesses based on hypothetical conditions that are imposed on the institution’s loan data.
BankRisk will apprise Merchants Bank of Alabama of inherent risk exposure and allow the management team to effectively evaluate capital and liquidity needs while satisfying regulatory requirements.
Merchants Bank of Alabama is located in Cullman, AL and has approximately $245M in assets.
Wednesday, February 24, 2010
Thursday, February 18, 2010
TriNovus Announces StartSAFE Solution For Bank Compliance With The SAFE Act
Birmingham, Ala., February 17, 2010 – TriNovus, LLC (www.trinovus.com), a company focused on delivering relevant technology solutions to the financial marketplace, announced today the launch of StartSAFE, a comprehensive solution to aid banks in meeting the compliance requirements of The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act). StartSAFE will be a part of TriComply, TriNovus’ suite of products designed to provide community banks solutions to aid in compliance with new and ever-changing banking regulations.
The SAFE Act requires that all mortgage loan originators (“MLOs”) register in a national registry and provide the registry information about themselves. The regulation also places significant responsibility on banks that employ MLOs requiring among other things for them to establish procedures and tracking systems for monitoring registration and renewals and to develop educational programs for MLOs covering registration requirements.
StartSAFE addresses SAFE Act requirements by providing banks a turnkey solution consisting of SAFE Act training for MLOs; SAFE Act policy and procedure templates; and the web-based StartSAFE solution for automated submissions to the Nationwide Mortgage Licensing System and Registry, tracking of MLO initial submission data and updates, and secure archival and off-site storage of MLO data and NMLS submissions.
Also currently part of TriNovus’ TriComply product suite is BankRISK, its stress testing and risk management solution for assessing loan portfolio risk. Additional compliance solutions are currently in development.
“With compliance there is always something new that the banks need to do,” said David Brasfield president and CEO of TriNovus. “It is our goal that TriNovus’ TriComply product suite will offer solutions that enable community bankers to respond to new regulatory requirements as efficiently and cost effectively as possible. StartSAFE is one of many such products that we plan to introduce to the market.”
About TriNovus
TriNovus, a Birmingham, Ala.-based company, was founded with the goal of delivering relevant technology solutions to the financial marketplace. For more information on TriNovus, visit www.trinovus.com or contact David Brasfield at 205.991.5636 or david.brasfield@trinovus.com.
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The SAFE Act requires that all mortgage loan originators (“MLOs”) register in a national registry and provide the registry information about themselves. The regulation also places significant responsibility on banks that employ MLOs requiring among other things for them to establish procedures and tracking systems for monitoring registration and renewals and to develop educational programs for MLOs covering registration requirements.
StartSAFE addresses SAFE Act requirements by providing banks a turnkey solution consisting of SAFE Act training for MLOs; SAFE Act policy and procedure templates; and the web-based StartSAFE solution for automated submissions to the Nationwide Mortgage Licensing System and Registry, tracking of MLO initial submission data and updates, and secure archival and off-site storage of MLO data and NMLS submissions.
Also currently part of TriNovus’ TriComply product suite is BankRISK, its stress testing and risk management solution for assessing loan portfolio risk. Additional compliance solutions are currently in development.
“With compliance there is always something new that the banks need to do,” said David Brasfield president and CEO of TriNovus. “It is our goal that TriNovus’ TriComply product suite will offer solutions that enable community bankers to respond to new regulatory requirements as efficiently and cost effectively as possible. StartSAFE is one of many such products that we plan to introduce to the market.”
About TriNovus
TriNovus, a Birmingham, Ala.-based company, was founded with the goal of delivering relevant technology solutions to the financial marketplace. For more information on TriNovus, visit www.trinovus.com or contact David Brasfield at 205.991.5636 or david.brasfield@trinovus.com.
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Thursday, February 4, 2010
TriNovus Announces Expansion of Vendor Management Product to Broader Market
PRESS RELEASE
Contact: David Brasfield, TriNovus
(205) 991-5636 david.brasfield@trinovus.com
TriNovus Announces Expansion of Vendor Management Product to Broader Market
Capitalizing of the success of its BankerVMS vendor management solution in the financial sector, TriNovus launches VendorVault for businesses and municipalities.
Birmingham, Ala., February 4, 2010 – TriNovus (www.trinovus.com), a company focused on delivering relevant technology solutions to the marketplace, announced today the launch of VendorVault (www.myvendorvault.com), a vendor management system targeted to businesses, municipalities, and hospitals to assist with the management of long term vendor contracts. VendorVault is a spinoff of TriNovus’ BankerVMS application that financial institutions use to manage their vendors.
“We had inquiries from numerous non-banking organizations about our vendor management solution,” said David Brasfield, president and CEO of TriNovus. “After conducting research we found that that a vendor management solution of this kind was lacking in other industries and worked to create VendorVault to meet the needs of organizations outside the financial industry.”
VendorVault is a central data repository for vendor information and the business processes associated with them. It assists in managing vendors throughout the lifecycle of the relationship and can reduce costs, improve contract terms, and save time and effort. Key features of VendorVault include web-based tracking of contracts and documents viewable from any computer; the ability for management teams or government personnel to easily collaborate on documents and create reports on vendors; vendor cost analysis management and the ability to compare costs to what other organizations are paying; and email ticklers on contract renewal status. Additionally, VendorVault enables a business to keep an offsite backup of critical vendor contacts and contracts.
Vendor contracts and other pertinent information are centralized, organized and analyzed by the VendorVault system. Municipalities and business in industries that have numerous vendor relationships and long term contracts will realize the most results from utilizing VendorVault.
About TriNovus
TriNovus, a Birmingham, Ala.-based company, was founded with the goal of delivering relevant technology solutions to the marketplace. In addition to VendorVault, its products targeted to the financial industry include: BankRisk – a comprehensive stress test and risk management solution; BankerMLS (www.bankermls.com) - a web-based application that enables financial institutions to obtain maximum exposure and value for repossessed assets; BankerVMS (www.bankervms.com) - a vendor relationship management system.
For more information on VendorVault visit www.myvendorvault.com. For more information on TriNovus, visit www.trinovus.com or contact David Brasfield at 205.991.5636 or david.brasfield@trinovus.com.
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Contact: David Brasfield, TriNovus
(205) 991-5636 david.brasfield@trinovus.com
TriNovus Announces Expansion of Vendor Management Product to Broader Market
Capitalizing of the success of its BankerVMS vendor management solution in the financial sector, TriNovus launches VendorVault for businesses and municipalities.
Birmingham, Ala., February 4, 2010 – TriNovus (www.trinovus.com), a company focused on delivering relevant technology solutions to the marketplace, announced today the launch of VendorVault (www.myvendorvault.com), a vendor management system targeted to businesses, municipalities, and hospitals to assist with the management of long term vendor contracts. VendorVault is a spinoff of TriNovus’ BankerVMS application that financial institutions use to manage their vendors.
“We had inquiries from numerous non-banking organizations about our vendor management solution,” said David Brasfield, president and CEO of TriNovus. “After conducting research we found that that a vendor management solution of this kind was lacking in other industries and worked to create VendorVault to meet the needs of organizations outside the financial industry.”
VendorVault is a central data repository for vendor information and the business processes associated with them. It assists in managing vendors throughout the lifecycle of the relationship and can reduce costs, improve contract terms, and save time and effort. Key features of VendorVault include web-based tracking of contracts and documents viewable from any computer; the ability for management teams or government personnel to easily collaborate on documents and create reports on vendors; vendor cost analysis management and the ability to compare costs to what other organizations are paying; and email ticklers on contract renewal status. Additionally, VendorVault enables a business to keep an offsite backup of critical vendor contacts and contracts.
Vendor contracts and other pertinent information are centralized, organized and analyzed by the VendorVault system. Municipalities and business in industries that have numerous vendor relationships and long term contracts will realize the most results from utilizing VendorVault.
About TriNovus
TriNovus, a Birmingham, Ala.-based company, was founded with the goal of delivering relevant technology solutions to the marketplace. In addition to VendorVault, its products targeted to the financial industry include: BankRisk – a comprehensive stress test and risk management solution; BankerMLS (www.bankermls.com) - a web-based application that enables financial institutions to obtain maximum exposure and value for repossessed assets; BankerVMS (www.bankervms.com) - a vendor relationship management system.
For more information on VendorVault visit www.myvendorvault.com. For more information on TriNovus, visit www.trinovus.com or contact David Brasfield at 205.991.5636 or david.brasfield@trinovus.com.
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