Affinity Federal Credit Union has implemented Continuity’s RegAdvisor Pro and RegControls solutions to enhance its compliance management.
This partnership was decided to help automate the largely manual compliance efforts of Affinity. Following the deal, the credit union will have a comprehensive compliance management system which will enable it to analyse regulations and implement necessary compliance actions, consistently monitor activity and create reports.
Connecticut-based Continuity develops RegTech solutions which can automate the compliance management processes for financial institutions of any size. By combining regulatory expertise and cloud technology, the company can lower regulatory burdens and mitigate risks cheaper.
RegAdvisor Pro analyses regulatory changes and will deliver an easy to digest summary Affinity, helping to free up employee time used reading and understanding compliance updates.
The RegControls solution contains hundreds of pre-built compliance procedures to enable employees to automate various manual tasks. With the help of these two new solutions, Affinity can better prioritise compliance tasks.
Affinity compliance officer Olivia Leach said, “Continuity’s technology takes the guess work out of compliance by helping us to easily determine how regulations impact us, and then supporting associated implementation and training actions.
“The platform assigns different tasks to the appropriate employee, boosting accountability and transparency of the overall compliance management process.”
Earlier in the week, risk mitigation platform NorthRow launched a new international company monitoring functionality. The launch of the new service aims to help businesses monitor compliance management of AML across their various places of operation.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
