Credit Unions Get Simple, Affordable Regulatory Compliance Tool
VIENNA, Va., April 12, 2017 /PRNewswire/ -- Redboard, a new regulatory compliance software platform built specifically for credit unions, offers a secure, cost-effect, cloud-based platform providing seamless communication, task management and document control with a detailed audit trail to ensure nothing slips through the cracks. It is designed specifically to eliminate mistakes, particularly in responses that require timely input from multiple individuals, across numerous departments including external resources, such as outside counsel.
Designed by Axiaware, a veteran financial industry software developer, Redboard is built based on decades of hands-on experience supporting the complexities of the world's largest credit unions. Since security and reliability are critical, Redboard is distributed in partnership with credit union-owned CUSO, Ongoing Operations. Ongoing Operations hosts Redboard on the same highly secure facility which already hosts some of the largest credit unions in the nation, meeting the NCUA's most stringent IT security requirements.
"Credit Unions are constantly suffering and inundated with yet more audits, compliance requests, and need for validation," says Kirk Drake, CEO of Ongoing Operations, "Redboard offers the first of its kind streamlined audit process and tool for accomplishing just that. Credit Unions who use this tool will definitely free up cycles spent on the gigantic paperwork shuffle that is the modern exam!"
Even simple regulatory examinations or document requests can lead to a tremendous amount of work. Each request requires a timely and accurate response. Mistakes or missed deadlines erode customer confidence and can result in further regulatory inquiries, actions, or even fines. Plus, if credit unions use email to discuss regulatory actions, it could open their entire email system to legal discovery. For that reason, Redboard only uses email for notifications, securely maintaining all sensitive content in its own repository.
Unlike other products, Redboard does not require a large investment of time, money, or resources. Licensing costs are tied to institution size, with no hidden fees. Pricing is posted on www.redboard.com.
There is no need for onsite or in-person training. Everything an end-user needs to know is encapsulated in a 5-minute video tutorial.
Redboard is now available exclusively to all of Ongoing Operations current clients. It will be available to the entire market in July 2017. Credit Unions can start using Redboard within a day of licensing the cloud-based system.
About Ongoing Operations
Ongoing Operations (OGO) was formed in 2005 as a business continuity CUSO by a group of Credit Union leaders determined to offer better disaster recovery solutions. The company quickly expanded as it acquired three companies, CU Recover – Business Continuity Planning, Teneros – E-mail Replication, and Cloudworks – a highly secure and redundant cloud computing platform.
Today, Ongoing Operations supports hundreds of Credit Union clients in four business areas: Disaster Recover, Telecommunications, Cloud and Security. OGO is committed to delivering thought leadership, resources and solutions to help Credit Union executives and IT leaders align technology with business strategy, maximize IT investment, and improve operational performance. To learn more, visit http://ongoingoperations.com.
About Axiaware
Axiaware is a software development boutique specializing in solving the toughest challenges for large financial institutions. Bringing world-class financial software expertise as well as business experience, Axiaware has a long track record of successful development projects, many of which are generating revenue for some of the finest institutions in the world. From back-office data management to the newest customer-facing software apps, Axiaware is the developer that large financial institutions depend on for their most important projects. Learn more at www.axiaware.com. Learn more about Redboard at http://www.redboard.com.
SOURCE Redboard
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