Continuity is a New Haven, Connecticut-based provider of regulatory technology (RegTech) solutions that automate risk and compliance management for the financial services industry. Dollar Associates is a full-service credit union consulting firm headquartered in Birmingham, AL and will consult with Continuity on regulatory issues to help enhance their successful cloud-based program for the credit union industry.
Continuity and Dollar Associates announced today that the two firm have signed a partnership agreement to work together on regulatory issues and program development in the credit union industry.
By combining regulatory expertise and cloud technology, Continuity provides a proven way to reduce regulatory burden and mitigate risk at a fraction of the cost. Continuity serves hundreds of institutions across the United States and its territories. Continuity’s risk and compliance product set includes RiskAdvisor, RegAdvisor® Pro, RegAdvisor® State, RegControls™ and ControlsBuilder™.
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“Credit unions are moving to cloud based solutions in so many areas,” said Mike Nicastro, CEO of Continuity. Nicastro continued, “As the current crisis make clear, compliance and risk management are such a high priority for them that it just makes sense to have robust cloud-based tools available. That is what we have developed at Continuity, and has been well received among banks and credit unions alike.”
“Our credit union clients are very compliance committed,” said Dennis Dollar, former NCUA Chairman and principal partner with Dollar Associates. “That is one of the reasons they work with Dollar Associates as a partner on regulatory matters and supervisory issues. But they are also wanting to move everything they can to a technology-oriented solution, including compliance and ERM. We were incredibly impressed by the Continuity cloud-based program and were pleased to be asked by them to be part of their team to take it to even higher levels from both a regulatory and an operational point of view for credit unions.”
Dollar Associates is a full-service credit union consulting firm with over 600 credit union clients and a number of firms that offer services to credit unions.
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The current environment during the national coronavirus emergency has pointed out the need for more cloud-based solutions, say both Dollar and Nicastro.
“Our credit union clients realize that their regulatory compliance requirements and their enterprise risk management may have changed,” said Dollar. “But they have not ceased by any measure. The new factor is that the risk management team is having to work from home, and those with cloud-based technology are finding themselves able to better stay up to date on compliance with tools such as the Continuity product.”
Mr. Nicastro concluded, “The ability to automate risk and compliance management with a technology solution that is easy to use and literally saves hundreds of man hours each quarter is a high value option today. We believe we have the best option available in today’s market, and we look forward to having the expertise of the Dollar Associates team to help us make it even stronger, more robust and more user-centric.”
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