BRANDON, Miss., Aug. 12, 2014 /PRNewswire/ -- eSoftware Solutions, the leader in web based financial service solutions, is formally announcing the release of their new web application, eCompliance.
eCompliance is a comprehensive compliance management system that was created in response to the heightening demands being placed on financial institutions and lenders by the Consumer Financial Protection Bureau (CFPB); the government agency responsible for auditing the financial sector. eSoftware Solutions, in consultation with Ballard Spahr, LLP, reviewed the requirements set by the CFPB and designed an all-in-one compliance software solution to help prepare creditors for a potential CFPB audit.
"As the CFPB ramps up its rule making, we recognized the need for an automated system to enable our clients to successfully manage the ever-increasing federal compliance requirements," said Scott Putnam, CEO of eSoftware Solutions.
To ensure that personnel are learning proper compliance protocols, eCompliance has a built-in training module that provides a number of tools that can be used to train personnel.
"eCompliance is far more than a compliance system," said Putnam. "It also administers and manages your entire company training program for every user in the organization whether they are at the corporate office or at branch level to ensure proper compliance protocol."
Employees can be trained through watching videos, following links, reading documents and taking company specific exams that can be attached to any training session. By utilizing the Exams feature, management can ensure that employees are taking their training sessions seriously and understanding their compliance responsibilities.
Mark Furletti, a partner at Ballard Spahr who assisted in the development of the eCompliance policies, explained as follows: "The CFPB has made it abundantly clear that lenders must have a robust compliance management system ("CMS"). And, in the agency's most recent publication summarizing exam findings, it notes that non-bank lenders have fallen short in this area. eCompliance is a foundation on which a lender can build a solid CMS."
Through using eCompliance's advanced features, lenders receive a more well-rounded approach to compliance that surpasses any other solution on the market. While other compliance products provide a simple checklist of things lenders should do, eCompliance provides them with all of the essential tools to remain compliant. In just a few clicks, lenders have the ability to review, adopt and implement the latest policies, regulations and procedures that should be followed in order to remain compliant with CFPB standards, and the system is equipped with an employee database to help lenders maintain accurate records of all persons working within their organization.
For more information, contact the eSoftware Solutions sales team at 601.414.0076, or visit www.cfpbready.com.
Contact: Jennifer Tabb
Tel. 601-414-0076
Email: [email protected]
SOURCE eSoftware Solutions
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article