NEW HAVEN, Conn., July 24, 2018 (GLOBE NEWSWIRE) -- Continuity, a provider of automated compliance management technology for financial institutions, today announced that $3.1 billion-asset, Affinity Federal Credit Union, the largest credit union headquartered in New Jersey and proudly serving the tri-state area, has implemented Continuity’s RegAdvisor®Pro and RegControls™ solutions to streamline and enhance its compliance management.
Previously, the tools Affinity leveraged to manage compliance were largely manual. Because of Continuity’s strong presence and reputation in the industry, Affinity ultimately decided to partner with the company to centralize and automate its compliance efforts. The credit union now has a comprehensive compliance management system that allows them to effectively analyze regulations and implement necessary compliance actions, consistently monitor activity and easily create reports.
“At Affinity Federal Credit Union, we realize that the more compliant we are, the better we can serve our members,” explained Olivia Leach, compliance officer at Affinity. “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.”
Continuity’s RegAdvisor Pro solution analyzes regulatory changes and delivers an easily digestible summary to the credit union, freeing employee time that used to be spent reading and trying to understand compliance updates for other strategic and growth-focused activities. RegControls contains hundreds of pre-built compliance procedures that enables employees to automate previously manual processes. By leveraging these solutions, Affinity is able to better prioritize tasks and more quickly and accurately complete necessary compliance updates.
Several areas of the credit union are being onboarded to Continuity’s platform, including marketing and public relations, loan administration and consumer lending and mortgage origination. Leach added, “Compliance touches everything, which is why it’s a priority for us to maintain a strong and pervasive culture of compliance. Continuity provides employees with detailed steps for understanding and applying compliance management to their daily functions, making the entire process easier and delivering new levels of transparency.”
“Savvy institutions like Affinity realize that in today’s complex and uncertain regulatory landscape, it simply no longer makes sense for compliance management to be manual,” said Mike Nicastro, chief executive officer of Continuity. “By leveraging our automated, streamlined compliance management system, Affinity is benefitting from increased regulatory expertise while boosting process efficiency. We are thrilled to work with forward-thinking institutions like Affinity that understand the importance of proactive compliance management.”
About Continuity
New Haven, Connecticut-based Continuity is a provider of regulatory technology (RegTech) solutions that automate compliance management for financial institutions of all sizes. By combining regulatory expertise and cloud technology, Continuity provides a proven way to reduce regulatory burden and mitigate compliance risk at a fraction of the cost. Continuity’s solutions are designed to automate all aspects of compliance management, from interpretation of regulatory issuances through intuitive task delegation, vendor management, and board reporting. Continuity serves hundreds of institutions across the United States and its territories. For more information about Continuity, visit Continuity.net.
About Affinity Federal Credit Union
With more than 20 branches across the tri-state area, Affinity is the largest credit union headquartered in the state of New Jersey, proudly ranking in the top 2% of all credit unions in terms of asset size1. As a member-owned, not-for-profit, full-service financial institution federally insured by the National Credit Union Administration (NCUA), Affinity’s products and services are designed to fit member needs, all while offering great rates and fewer fees. For more information, visit affinityfcu.com, and follow us on Facebook (AffinityFCU), Instagram (AffinityFCU) and Twitter (@AffinityFCU).
1Source: CUDATA.com
Amber Bush
+ 1 678-781-7219
amber@williammills.com