Ncontracts

Ncontracts (which includes their specific Naudit module) is hyper-specialized for one incredibly complex industry: regional banks and credit unions. It does not attempt to sell to manufacturing companies or hospitals. It is designed entirely to satisfy the grueling, unforgiving audits conducted by the FDIC, the NCUA, and state banking examiners. In the banking industry, compliance isn't just a suggestion; failing an audit can result in the government literally seizing the bank. Ncontracts provides pre-built, constantly updated audit programs based strictly on the latest federal banking regulations. When the government issues a new rule on mortgage lending, Ncontracts automatically updates the audit checklist within the software so the bank's internal auditors test the exact right things. It also integrates seamlessly with their massive vendor management suite. Banks are heavily penalized if their third-party vendors (like a check printing company) have weak security. Ncontracts allows the bank's auditors to track not only internal controls, but to automatically ingest the SOC 2 audit reports of their critical vendors, providing the federal examiners with a flawless, unified view of the bank's entire risk ecosystem.