Vendor Transparency Solutions, LLC (VTS) is the industry leading compliance management system (CMS) tailored to the automotive lending community. Today’s regulatory environment requires proper screening of current and potential suppliers that provide financial products and/or services to financial institutions. VTS is the lender driven platform that assures you are contracting with the most compliant service providers.
You probably spend time considering the prices and services provided by potential suppliers, but what about other crucial factors that could pose a threat to your lending institution? Potential liabilities like criminal records, financial troubles, improperly insured suppliers, failure to meet the CFPB compliance standards, or disreputable business relationships cannot always be identified through an in-house procurement process.
Vendor Transparency Solutions, LLC., conducts detailed screening of both potential and current suppliers to provide insight into their background, integrity and financial standing. The VTS web based platform is designed to comprehensively screen and monitor all asset recovery agencies, forwarding companies, skip trace agencies and transportation companies through the use of our two signature products, VTS Professional and VTS Basic. VTS goes beyond the traditional snapshot of a company’s level of compliance by providing daily monitoring, compliance tracking and providing our clients with the most robust complaint handling tool in the industry, the VTS Complaint Handling Module.
VTS Basic is a cost effective solutions for service providers that wish to house all of their compliance documents on one structured platform with access to all VTS modules, compliance manual templates, continued education courses and webinars, VTS Complaint Handling Module and the VTS Marketing Module. VTS does not provide any type of due diligence or monitoring for VTS Basic subscribers. At any time during the subscription period, VTS Basic subscribers may upgrade to VTS Professional, which does provide comprehensive due diligence and compliance monitoring.
The VTS Basic subscription allows, with your permission, through the acceptance of a RFI (Request For Information) from VTS subscribed lenders, access to your company profile in order to create and conduct their own level of due diligence and monitoring. This level of service also provides access to the most powerful marketing tool available in the industry, the VTS Marketing Module, allowing you to showcase your company, electronically, to lenders of your choice.