Its high time we get our compliance priorities sorted!
As per Lyn Farrell and Kathryn Reimann per the article in American Bankers Association‘s newsletter convey that, its high time we get our compliance priorities sorted. Following is the summary:
1. Changes in administration and leadership at regulators will lead to changes in regulations and additional supervision #FairLendingg / #CFPB )
2. Thorough examination of the data and AI-driven models is expected
3. Managing and maintaining data for lending practices particularly around collections activities and related complaint activity a and control over the same (UDAAP & Cares Act)
HEXANIKA can precisely help you with these items as following:
1. Automated Change Management: HEXANIKA will detect and maintain the changes automatically.
2. Provide 100% Auditability & Transparency of Documents and Data: The data platform can streamline the compliance process and provide 100% audibility and transparency.
3. Organize Data Automatically: We will help you keep the documents and complaints in synch and categories them appropriately