With shifting requirements coming from constant updates, community-based financial institutions typically find it hard to stay up to date. This, when combined with dwindling profits due in part to lower interest rates and other economic factors, puts stress on an organization’s ability to pay high-priced consultants to assist in staying ahead of the curve.
There are sites where one might find a repository of data, such as policies and compliance news, though sometimes finding information in them can be just as difficult as it would be to generate your own work product. However, without oversight by outside compliance specialists, the work required just to keep comprehension and interpretation up to speed can be enough to overwhelm an organization.
AffirmX and its independent consulting organization AdvisX have designed solutions to address this. Free of charge, one may sign up for https://www.nbhotlist.com to be kept up to date on hot news from all of the major news sources aggregated into one place. Also, AffirmX and AdvisX offer solutions that marry technology and expert professionals to address compliance issues. When combined with AffirmX’s CRISP platform, an institution can receive very significant savings over traditional consulting and software-only solutions.
AffirmX combines information from multiple sources, both inside and outside, to develop an understanding of risk within your organization. We then use a combination of people and machines to navigate through all areas of compliance and significantly enhance your ability to focus on decisions and enforcement in favor of reading, searching and interpreting. AffirmX distributes the process of oversight throughout the year in a non-disruptive fashion, helping to embed the behavior of compliance into all involved.