NEW HAVEN, Conn., Nov. 12, 2013 (GLOBE NEWSWIRE) -- Continuity Control™, provider of the industry's most comprehensive regulatory compliance management platform built for community financial institutions, today announced that First National Bank Alaska has signed on to use the firm's award-winning solution. The bank will use the Continuity Control platform to manage both risk and compliance in a new, more efficient and more centralized way.
Based in Anchorage, First National Bank Alaska is a $3 billion institution with more than 30 branches across 18 Alaska communities. As the pace of regulatory change has quickened, the institution needed a way to more easily manage and enforce compliance across the organization. They also sought a solution that could simplify the compliance process end-to-end – from providing trusted, expert interpretation of regulatory changes to automating critical enforcement activities.
Senior Auditor Julie Anderson of First National Bank Alaska said: "We had been looking at providers in the risk management space and realized they only solved one part of the problem. About that time, we encountered another institution that was using the Continuity Control platform and were impressed by what we heard. Ultimately, we chose the platform because it allows us to manage, streamline and automate a large part of what our team has to do manually each day."
Unlike traditional compliance and risk management solutions, the Continuity Control platform automates and manages all facets of regulatory compliance for one subscription fee - including task management, policy and controls management, risk assessments, as well as the interpretation and notification of regulatory changes that impact the client institution. In addition to the software solution, clients have access to guidance from Continuity's compliance experts.
"The beauty of the Continuity Control platform is that it reduces the regulatory burden for banks of any size, and transforms the compliance program from reactive to proactive. It's helping compliance professionals make the shift from task manager to strategic risk manager," said Andy Greenawalt, CEO and founder of Continuity Control. "These are exactly the changes that today's examiners want to see."
Continuity Control's mission is to help community financial institutions survive and thrive by offering innovative technology coupled with personalized, expert service to relieve the time, cost and risk burden of compliance.
About Continuity Control
Continuity Control is an award-winning regulatory compliance management platform that combines advanced software with personalized service to help community financial institutions effectively manage their regulatory burden. Founded in 2008 by distinguished technology, banking, and compliance specialists, Continuity Control's platform reduces the resources and costs a bank or credit union must spend on compliance while ensuring that it passes regulatory muster. Built just for community institutions, Continuity Control is the most comprehensive compliance management platform on the market today. For more information, visit www.continuity.net.
Source: Continuity Control