True Digital Group and FiscalNote Holdings, Inc. announced a strategic alliance to map 3rd and 4th party vendors and monitor critical risks, presenting a first of its kind opportunity for financial institutions to understand and monitor risks within their expansive supplier networks and elevate transparency throughout the vendor ecosystem. The partnership leverages the AI-powered, cutting-edge technology and data analytics capabilities of FiscalNote Risk Connector to furnish True Digital and its bank industry members with an invaluable resource for risk management. FiscalNote's AI models provide a unique view for banks of their vendor's supply chain structure - a strategic advantage that empowers community and regional banks by offering them a solution to better navigate the intricate web of vendor relationships, serving as a pivotal asset in both the vendor selection and ongoing monitoring processes.

FiscalNote Risk Connector, which recently launched, delivers the power of data and AI capabilities to equip large enterprises in the private and public sectors to anticipate, understand, quantify, and track risksemanating from their operations and full web of relationships - including not only their supply chains, but also customers, investors, partners, and any other vectors through which a risk could materialize. Equipped with these insights -- updated every 15 minutes and covering reputational issues, legal matters, financial risk, regulatory changes, emerging competitors, data privacy breaches and more -- enterprises can rapidly determine whether doing business with a specific company or individual might lead to unnecessary risk or compliance challenges due to undeclared relationships, front companies, or other risk-related behavior -- including third-, fourth-, and fifth-party relationships. As the partnership between True Digital and FiscalNote advances, both companies will drive further innovation driven by input from True Digital's network of thousands of banking professionals and enhance the joint offering to meet the dynamic risk management requirements of an ever-wider variety of financial institutions.

Together, the companies aim to provide unparalleled insights and tools that empower the community banking industry to proactively manage vendor risk and ensure the resilience of the financial ecosystem.