openPR Logo
Press release

Regulations Piling up for Community Banks and Credit Unions According to Continuity Control Analysis

03-15-2012 07:17 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: CSG | PR

/ PR Agency: Straight Line PR
Regulations Piling up for Community Banks and Credit Unions

Compliance Solution Adds Another 64 Controls To Stay Ahead Of Regulatory Onlsaught

New Haven, CT, March 13, 2012 - Continuity Control, a financial technology company built to help community banks and credit unions meet their growing compliance requirements, today reported that 64 new controls have been added to its platform since the beginning of the year.

Built with automated controls to meet Compliance, IT, and Safe and Sound Banking requirements, the Continuity Control solution continuously identifies new or updated regulations that could affect a community bank. The Continuity Control solution has been specifically designed to reduce a community financial institution’s compliance efforts while insulating it from the cost of regulatory changes.

The firm reports that 645 rule alerts have been issued by the individual regulatory agencies over the past five years, plus hundreds of subsequent updates. Through its regulatory mapping function, Continuity Control links a bank’s or credit union’s compliance program to the regulations that govern them. With new alert and updates coming weekly, changes can be handled with intelligence and efficiency to match the volume.

According to Travis Colquett, Vice President and Compliance Officer at First Citizens Bank in Luverne, AL, the Continuity Control platform eliminates the need to purchase separate tools to deal with various components of compliance.

“Working with my Continuity Control strategist, we identified eight to ten different areas that needed controls, and within a couple weeks they were in place,” says Mr. Colquett, who is a former FDIC examiner. “Once I set them, I never have to touch them again. And If someone on my staff leaves, I only have to reassign a new person to that role, which is a ten-second task.”

Founded by financial service, banking, and compliance industry veterans, Continuity Control has been specifically designed to reduce a community financial institution’s compliance efforts while insulating it from the cost of regulatory changes.

Named among the “Ten Tech Companies to Watch” by Bank Technology News, Continuity Control combines advanced software with personalized service from compliance experts to help any community financial institution better manage the various regulatory processes.

About Continuity Control
Continuity Control is an award-winning compliance solution that combines advanced software with personalized service to help community financial institutions effectively manage their regulatory burden. By automating procedural controls to meet compliance requirements on a single platform, the Continuity Control solution improves a bank’s or credit union’s oversight and reduces costs at the same time. Founded in 2008 by banking and compliance veterans with decades of first-hand experience with regulators, Continuity Contol has helped more than 1,000 community financial institution executives get thier compliance work done. For more information, visit www.continuity.net.

Contact:
Dan Mahoney
CSG|PR
3225 East 2nd Avenue
Denver, CO 80206
970.405.8060
dmahoney@csg-pr.com
http://www.csg-pr.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Regulations Piling up for Community Banks and Credit Unions According to Continuity Control Analysis here

News-ID: 214422 • Views:

More Releases from CSG | PR

Consumer-Driven Deal site, SoRewarding Connects Merchants with Revenue Retention, Customers and Community
Consumer-Driven Deal site, SoRewarding Connects Merchants with Revenue Retention …
SoRewarding merchant members keep 75 percent of deal revenue for life Denver, Colorado, May 17, 2012 - Denver-based SoRewarding, a new social network that lets consumers create and request their own deals from area businesses, is reinventing the way group buy deal sites work with merchant partners. In the time it takes to set up a merchant profile page on SoRewarding.com, businesses can begin accepting deals requested by their customers…and
VisitMobile® to Provide Mobile ConciergeTM Solution for Visit Newport Beach
VisitMobile® to Provide Mobile ConciergeTM Solution for Visit Newport Beach
VisitMobile is proud to announce that Visit Newport Beach is the latest destination to implement the Mobile Concierge smartphone travel app solution. Boulder, CO, February 03, 2012 - VisitMobile is proud to announce that Visit Newport Beach is the latest destination to implement the Mobile Concierge smartphone travel app solution. Mimicking a real concierge, Mobile Concierge provides convention and visitor’s bureaus (CVBs), destination marketing organizations (DMOs) and business improvement districts (BIDs)
Visit Napa Valley Mobile Concierge Honored with Platinum 2011 International MarC …
VisitMobile’s Visit Napa Valley Mobile Concierge was honored with a 2011 Platinum MarCom Award in the Mobile Travel App category. Boulder, Colorado, November 29, 2011 - Right on the heels of winning the 2010 Platinum Adrian Award from HSMAI (Hospitality Sales and Marketing Association International), VisitMobile’s Visit Napa Valley Mobile Concierge was honored with a 2011 Platinum MarCom Award in the Mobile Travel App category. Administered by the Association of

All 4 Releases


More Releases for Continuity

Government Continuity Plans In Question
E-services, and in government terms, E-government, are essentially digital technologies, notably the internet and mobile, that help facilitate interactions between government agencies and the public. Examples of government e-services, amongst many others, include business formation, registration and reporting; payment of licenses and taxes; and application for social security benefits. Government digital projects are commonly complex to plan and execute and many of them are destined to fail. According to research,
Business Continuity Management Program Solutions Market Is Booming Worldwide | C …
Worldwide Business Continuity Management Program Solutions Market In-depth Research Report 2021, Forecast to 2026 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Worldwide Business Continuity Management Program Solutions Market. Some of the key players profiled
Continuity and change for the EFA
In Hamburg, the European Fireplaces Association sets the targets for the organisation’s work over the next year At the end of April 2017, the movers and shakers of the fireplace sector met for a pan-European exchange of ideas in the northern German city of Hamburg. The attendees at the two-day event discussed the challenges facing the sector across Europe and the consequences for the future work of the organisation. The main issues
Free tool for business continuity management
elementec offers the free Community Edition of its BCM suite elementec::bcm. The software offers risk and business impact analysis, the creation of alarm plans, escalation plans and emergency plans, interactive emergency response as well as the creation of emergency manuals and related documentation. elementec::bcm is a comprehensive integrated BCM tool targeting businesses of all sizes. The Windows software is network and multi-user capable but can also be used on a regular
9th Asia Business Continuity Conference (ABCC)
Singapore, 15 October 2011 – From handling a pandemic to recovering from a 9.0 magnitude earthquake – industry leaders and top business continuity practitioners took stage at the recently held 9th Asia Business Continuity Conference to discuss, deliberate and provide framework on how businesses can survive in today’s high-risk environment. The two-day conference which was held at the Suntec Singapore International Convention & Exhibition Centre from October 13 to 14
Business continuity consultancy Steelhenge is elected onto the Business Continui …
Steelhenge Consulting, a leading provider of business continuity management consultancy, training and exercising, is delighted to announce that it has been voted onto the Business Continuity Institute Partnership Steering Group for a three year term. Founded in 2007, the BCI Partnership supports the objectives of the Business Continuity Institute, the world's pre-eminent business continuity body. For more information, visit www.steelhenge.co.uk or call 0845 094 2117. "We're delighted to make this announcement