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Dana Bowers

Dana Bowers

Founder & Chief Solution Architect



Dana Bowers is Founder, Board Member and Chief Solutions Architect at Venminder where she assists with the firm’s long-term strategy and innovative product development. Dana has been an entrepreneur and leader in the technology and risk space for more than 30 years.

As the Founder of Venminder, Dana designed an entire new approach to vendor management by creating a state of the art software and integrated services solution that allows organizations to answer the ever growing challenges and regulatory demand for vendor management compliance. Dana served as Venminder’s CEO for five years until 2018. Under her leadership, Venminder grew into the third-party risk management leader it is today with more than 1,200 customers ranging in size from small to Fortune 100 organizations.

Prior to Venminder, Dana founded and led the team as CEO at iPay Technologies. Under Dana’s leadership, iPay grew from a start-up in 2001 to the one of largest, independent bill pay providers in the United States. When the company was sold to Jack Henry and Associates in 2010, iPay had a 40% market share, millions of subscribers and moved billions of dollars annually. 

This hands on operating experience in a high-profile/high-risk “vendor” business gave Dana a unique perspective into the challenges organizations face on a daily basis. Whether it’s negotiating a financial technology contract, sitting across from examiners to answer tough questions regarding safety and soundness or protecting confidential customer data, she has sat in her customer’s chair.  Following the sale of iPay to Jack Henry, Dana recognized the opportunity to use her experience and assist financial institutions and other organizations with managing their critical vendor relationships. The team at Venminder was formed with the vision and goal to create a best in class outsource vendor management solution, Venminder.

Throughout Dana’s career, her proven leadership and talent has been recognized by many. She was awarded the Ernst and Young Entrepreneur of the Year 2009 award for the South Central Ohio/Kentucky region in the Technology category.

Dana is on the board of advisors for the University of Louisville College of Business and serves as a board member for Associates in Pediatric Therapy, a Kentucky-based company. In 2019, CSI elected Dana as it's newest board member. Dana earned her bachelor's degree in Business Management from Embry Riddle University.

Leadership Characteristics

"I see my job as ensuring everyone knows what the priorities are and to keep them focused. There are so many daily distractions that can easily pull you down a rabbit hole. I even have to remind myself of this often or I get pulled down the rabbit hole as well. But having said that, it’s also important to realize that priorities can change. If that’s the case, then recognize it and change the direction, be fluid. But not so fluid that it feels like strategy du jour to the team. Make conscience and precise decisions then stay true to those until the world starts telling you it needs to change. Reality is this is much easier said than done."

Leadership Challenges

"I was born with an innate desire to be liked. I just hate it when I think someone doesn’t like me. I find it very difficult sometimes to balance the job against a relationship. On rare occasions both get equally satisfied. But when the job has to come first, I make sure that happens but behind the scenes I’ll toss and turn with the relationship challenge."

Key Take-a-ways

a.) I still get surprised when I run across someone who has an obvious bias to me being female. I’ll struggle and struggle with why something isn’t working assuming there must be something I need to do/change in order to fix it. Then I finally realize (or someone else will point out) that the challenge is outside of my control. While knowing the answer is a relief of sorts, it still catches me by surprise that that kind of bias still exists in this world.  

b.) My favorite aspect about TPRM is the opportunity to consult with clients/prospective clients about their challenges and then find the right solution for them. It’s interesting that all clients come to us with their own unique perspective of how to do TPRM. Some have over complicated it, others have underestimated it. Taking the journey along with them to find the right solution for their own unique use case is pretty fun!

Fun Fact

"I love to read. I discovered many years ago that if you are reading a good book, it’s impossible for your mind to also think about all the daily challenges at the same time. So reading is my way of escaping stress and frustration by going to a new place with new people with an interesting story."

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