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