Continuity, a leading provider of automated compliance management technology for financial institutions, announced today that Apple Bank, the second-largest state chartered savings bank in New York State with $12.8 billion in assets and 79 branches in greater New York, has selected Continuity’s RegAdvisor®Pro, RegControls™ and ControlsBuilder™ to help manage and address its compliance management needs.
Continuity offered Apple a centralized platform with the ability to determine what regulation updates affect them, and a better way to track compliance efforts, monitor compliance activity and report data. Apple was looking for a comprehensive approach to its Compliance Management System (CMS) and Continuity’s solutions provide a customized CMS with universally-accepted and custom controls along with the reporting functionality that the bank needed.
“Continuing to invest and innovate for our clients in a regulatory environment where the intensity on compliance management continues to grow is paramount for Continuity,” stated Mike Nicastro, CEO of Continuity. “We are honored to have been chosen to partner with a well-recognized financial services leader like Apple Bank as it, as well as the entire industry, focuses on the growing complexities of compliance and compliance management.”
“Apple Bank will use our technology to automate and streamline its compliance management processes,” said David Bagley, Chief Revenue Officer of Continuity. “Just as Apple Bank has diversified and expanded in retail and small business banking, our technology will help to automate and centralize Apple Bank’s approach to regulatory compliance and compliance change management.”
“Strong and effective corporate governance continues to be a top priority for Apple Bank, and compliance management is a critical component,” said Steven C. Bush, Chairman, President and Chief Executive Officer. “Continuity’s solution is comprehensive and provides the automation, regulatory updates, and customized tracking, monitoring and data organization tools we need for effective compliance management. We look forward to a strong and enduring partnership with Continuity to meet our regulatory requirements.”
Contributed | what does this mean?