Multiple Leading Banks Select Continuity’s RegAdvisor Pro Platform as Demand Increases
Continuity, a leading provider of cloud based risk and compliance management technology has experienced an expansion in new business development over the last several months. The increase is due to several key changes and trends in the marketplace.
“Financial institutions need to navigate key shifts in the risk and compliance arena,” explains Continuity’s CEO Michael Nicastro. “Today they have to manage the deluge of information and change happening as a result of the ongoing global pandemic. Now, more than ever, banks, credit unions, mortgage companies and fintech firms need to execute their regulatory processes with precision, efficiency and speed to manage this national state of emergency,” Nicastro continued.
“There has also been a shift in demand to cloud computing to quickly adapt to changing work environments and procedures, which has been the most significant workforce pivot in history,” Nicastro added. “And lastly, there’s a “new normal” in the risk and compliance arena because the COVID-19 environment has made it essential to stay ahead of the regulatory curve.”
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“We’ve signed 3 leading financial institutions in the last few days alone,” said David Bagley, EVP & Chief Revenue Officer. “Our solutions address the growing challenges that financial executives are experiencing every day. Each one of our new clients has selected Continuity’s RegAdvisor Pro platform to reduce time interpreting regulations, contain costs and increase efficiencies, to help them cut waste and save resources,” Bagley explained.
RegAdvisor Pro provides banks and credit unions a turnkey analysis, summary and notifications of new federal regulatory changes to streamline internal risk and compliance processes. As the pandemic persists and with the arrival of hurricane season, banks and credit unions have been struggling to keep up with an onslaught of new and changing regulations. In the past month, there have been more than 25 federal alerts issued and more are expected.
For bank CEOs, RegAdvisor proactively supplies the bank’s executive management team with vital and immediate regulatory intelligence to help maintain an optimal operating environment to stay ahead of cataclysmic changes directly affecting their operations.
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For risk and compliance officers, Continuity’s solutions help them seamlessly adapt to new working environments and procedures as the lockdown begins to lift, but hot spots persist. It allows managers to set up users, create roles and update internal policies, all while sheltering in place. Teams get set up and running immediately, because Continuity’s cloud-based platform is immediately deployable. Expedited access to real-time information and regulatory intelligence, across departments, enables immediate decision making to occur for the financial institution.
Nicastro added, “Our newest client has deployed our full suite of compliance technology — RegAdvisorPro & State, RegControls, ControlsBuilder and VendorManagment. As a result, they now have a fully automated dynamic compliance strategy populated with our curated content. Our approach of delivering knowledge as a service (KaaS), will require less effort and be more efficient. Fast deployment will provide them a very quick return on their investment.”
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