FOR IMMEDIATE RELEASE
ICBA Selects Continuity Control as Preferred Service Provider for Compliance Management
Cloud-based platform built for community banks manages the entire regulatory lifecycle and reduces the compliance burden
Washington, D.C. (Jan. 29, 2014)—The Independent Community Bankers of America® (ICBA) today announced that it has selected Continuity Control™ as the Preferred Service Provider (PSP) for its compliance management system (CMS). This new relationship will offer ICBA-member community banks access to a comprehensive, automated CMS, which provides one simple solution to manage the entire regulatory lifecycle. As part of this relationship, ICBA members will receive special discounts on a Continuity Control subscription.
The Continuity Control platform is engineered to reduce regulatory burden (time, cost and risk) for community banks. Through this single, comprehensive system, bankers can automate the entire regulatory lifecycle for the first time, including: policy management, risk management, vendor management, custom controls, audit management, regulatory-changes monitoring, and annual strategy and planning.
“Ensuring regulatory compliance is a top priority and constant challenge for community banks,” said Dan Clancy, executive vice president of services at ICBA. “We are very excited to bring Continuity Control’s platform to ICBA members because it provides bankers with specific steps to meet the constantly evolving compliance requirements, allowing them to prioritize customer relationships and banking services.”
Central to Continuity Control’s engineered advantages is the combination of integrating the code of federal regulations into the platform and the Continuity Regulatory Operations Center (ROC). The ROC provides bankers with timely monitoring and analysis for new regulatory changes by a team of former examiners and industry experts. This analysis is delivered as simple tasks via the Continuity platform with specific and actionable guidance. Tasks are assigned to the appropriate people within the bank and tracked through completion.
Continuity clients also have assigned experts that work closely with the banks to drive continual improvement to their compliance processes throughout the year. With Continuity Control, community banks can streamline compliance management, ensure they don’t miss any regulatory requirements and refocus their energy on growth and profitability.
“Reducing community bank regulatory burden is an important issue that needs to be addressed. We know that ICBA is the leader in that fight and we passionately support this effort,” said Andy Greenawalt, Continuity Control founder and CEO. “With that said, we are very pleased to be selected as the ICBA Preferred Service Provider for our comprehensive compliance management system. The growth of the regulatory burden for community banks is driven by continuous changes. Our platform delivers a dynamic and adaptive compliance management system that helps banks manage this burden so they can reduce the time and money spent on compliance and get back to the business of banking—lending locally and creating vibrant communities.”
ICBA members can also visit Continuity Control at ICBA’s annual convention, Community Banking Live, March 2-6 in Honolulu, at Booth #813.
The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services.
About Continuity Control™
Continuity Control is an award-winning regulatory compliance platform that combines a compliance management system with personalized service to help community financial institutions reduce their regulatory burden. Founded in 2008 by distinguished technology, banking, and compliance specialists, Continuity Control’s platform effectively reduces the resources a bank or credit union must spend on compliance while ensuring that it passes regulatory muster. Built just for community banks and credit unions, Continuity Control is the most comprehensive compliance management platform for community financial institutions on the market today. For more information visit www.continuity.net/.