First Interstate Bank Chooses Digital Compliance For Technology Service Provider Due Diligence Acquisition and Maintenance

Billings, Montana – July 3, 2003—
Released by:  Digital Compliance, LLC
Media Contact:  Brad Putnam
Phone: (406) 325-9737

Multi State Bank Says New Solution Will Help Save Money and Time In Complying With The FDIC Recommended Risk Management of Outsourced Technology Services

Digital Compliance, LLC announced today that it will provide a comprehensive range of due diligence and compliance related documentation on the multiple Technology Service Providers (TSP) currently providing technology solutions to First Interstate Bank.

Kevin Guenthner, First Interstate Bank Senior Vice President and Chief Information Officer, said Digital Compliance provides a service that substantially reduces the cost and frustration related to technology vendor management. “Digital Compliance offers our bank employees and examiners far more control over acquiring and maintaining our technology service providers due diligence materials as part of our over all operational risk management strategy”. 

First Interstate Bank is a multi-state, $3.5 billion banking organization. First Interstate has evolved since 1968 from a single bank in Sheridan, Wyoming to operating 59 branches and over 120 ATMs in Montana and Wyoming. First Interstate Bank can be found on the Internet at www.FirstInterstateBank.com

Under a multi-year agreement, Digital Compliance will supply its Vendor Document Management Service – including acquisition of due diligence materials from all technology service providers currently contracted with First Interstate Bank – secure online availability to vendor due diligence materials, and on going maintenance of due diligence materials assuring current documentation.

“First Interstate Bank is an organization with a rich heritage of customer service.  Assuring the safety and soundness of the many technology service providers that help First Interstate accomplish such a high level of customer service is sound risk management procedure” said Brad Putnam, President and CEO of Digital Compliance. “We look forward to providing First Interstate Bank with the information necessary to make sound decisions about technology vendors and to continue their history of high level customer service into the future”.

Digital Compliance, LLC acquires and provides financial institutions with easy access to up to date due diligence and compliance documentation on financial institution technology service providers. The FFIEC, OCC, FDIC, OTS, and NCUA all recommend that a technology service provider vendor management plan be a part of any operational risk management strategy. Digital Compliance can be found on the Internet at www.digitalcomply.com .