Illinois-based Liberty Bank has partnered with Network Contract Solutions (Ncontracts) to manage risks related to vendors and contracts. Ncontracts will provide a process for managing the community bank’s vendor agreements, risk assessment tools and information gathering services. Ncontracts cuts the costs of being compliant and provides Liberty Bank’s clients with mechanisms to track the terms of their agreements. Tracking of contractual provisions helps banks to prevent automatic renewals, enforce pricing terms and reduce their administrative expenses.

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