Network Contract Solutions

Brentwood, TN (Vocus) August 11, 2010

Network Contract Solutions announced today that it has become an affiliate member of the North Carolina Bankers Association. As the company continues to add client banks across the country, Network Contract Solutions continues to support organizations that help their clients. The North Carolina Bankers Association was founded in 1897 as the professional and trade association for commercial banks in North Carolina. Its members hold more than 99 percent of the commercial bank assets in the State. ‘As an affiliate member, we look forward to participating in events held by the North Carolina Bankers Association and strengthening our relationships with our clients,’ said Network Contract Solutions, CEO, Michael Berman.

“The combination of a robust vendor contract management system, with a complete set of tools, forms, and documents for compliance with banking vendor regulations, makes Ncontracts FI® an invaluable solution,” said Lisa Campbell, Chief Financial Officer, of New Century Bank in Dunn, North Carolina, which is a new client of Network Contract Solutions.

Ncontracts FI® is the only solution that combines paralegal implementation services with the convenient internet storage of contracts, automated email notifications, and custom summaries of critical contract terms. Ncontracts FI® protects banks 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.

Built into Ncontracts® is Nriskmanagement™ – a toolset that helps banks manage vendor risk and reduce compliance costs. Designed in consultation with regulators, attorneys, and bankers, Nriskmanagement™ helps banks comply with FFIEC requirements to manage risks in a way that is tailored to the complexity of each vendor relationship.

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 contract is 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 New Century Bank

New Century Bank is headquartered in Dunn and has branch offices in these North Carolina communities: Dunn, Clinton, Fayetteville, Goldsboro, Lillington, Lumberton, Pembroke, Raeford, and a loan production office in Greenville.

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