Kasasa, a financial technology and marketing provider, has launched a new compliance tool, dubbed RegGen.
The new tool claims to take the complexity and hassle out of creating account holder disclosures and marketing disclaimers. Account holder disclosures are the agreements that govern Kasasa checking and savings accounts, and marketing disclaimers represent the “fine print” required in marketing materials.
RegGen enables financial institutions to create and customise required regulatory language across all Kasasa products and promotional materials with just a few keystrokes. The tool enables financial institutions to create compliance language in three simple steps.
With a financial institution’s FIRSTBase credentials, Kasasa’s new Reference Manual can be downloaded to view step-by-step instructional videos to fully understand RegGen and its capabilities. Financial institutions then answer a few simple set-up questions that will be stored and automatically incorporated into their disclosures and disclaimers.
The organisations simply answer two questions, confirm to download the MS Word document that is created, and edit the text to match their product designs and operational processes. Or they can answer nine questions about the type of media they are using, the marketing message and the product they are promoting, then download and edit in the MS Word file created.
“Consumer transparency and regulatory compliance is immensely important. Unfortunately, up until now, the process of creating comprehensive accountholder disclosures and marketing disclaimers for reward-based checking and savings accounts has been a research-intensive, time-consuming and expensive proposition for many community banks and credit unions. Not anymore,” said Gabe Krajicek, CEO of Kasasa. “With RegGen, our clients’ marketing and compliance professionals have compliance at their fingertips. Now they can create, edit and customize disclosures and disclaimers in minutes rather than hours.”
Based in Austin, Texas, with 400 employees, Kasasa helps more than 800 community financial institutions establish relationships with consumers residing in their local markets. The company claims to have reinvented checking and is now reinventing lending through its latest patent-pending offering, Kasasa Loans.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
