NEW HAVEN, Conn., March 2, 2015 (GLOBE NEWSWIRE) -- Continuity, the Compliance Core™ provider for community financial institutions, has partnered with the Community Bankers Association of Georgia, Independent Community Bankers of Minnesota and Independent Bankers of New York State. All three state banking associations will now offer their member banks Continuity's Compliance Core solution.
According to the latest Banking Compliance Index, the average community bank needed to devote more than $147,000 to manage the more than 300 regulatory changes introduced in 2014, a trend that has been steadily increasing over the past several years.
Continuity's Compliance Core is engineered to reduce compliance risk and cost for community banks by bringing together strategic planning, compliance expertise, assurance and technology into a single solution – with a single subscription.
"Georgia was hit harder than any state in the financial crisis and while we've built a best-in-class compliance education program, I've seen our member banks struggle to manage the day-to-day burden of regulatory compliance," said Rob Braswell, Community Bankers Association of Georgia President and CEO. "Continuity's Compliance Core will arm our members with the technology and world-class expertise they need to take control of their compliance processes and re-focus on supporting their communities."
Continuity is an Endorsed Member Company of the Community Bankers Association of Georgia, which has more than 200 member banks.
Central to the Compliance Core is the Regulatory Operations Center (ROC). World-class regulatory experts review and analyze federal issuances in real time and determine how the changes will affect individual institutions. The ROC then creates customized action plans and delivers them to users of the Compliance Core via the Control Platform.
"We've been looking for a compliance solution to offer our members for quite some time," said Doug Krukowski, Independent Community Bankers of Minnesota COO. "Continuity's Compliance Core was the only solution we found that combined superior technology with expert insight that actually told the institution who needed to do what and when, which is what our members want and need."
The Independent Community Bankers of Minnesota, which has more than 235 member banks, has added Continuity to their Partner Program.
"As a former banker I know firsthand how impactful an automated compliance solution can be for a community bank," said John Witkowski, Independent Bankers Association of New York State, President and CEO. "Our goal is to bring our members solutions that help them to be more successful. Continuity's Compliance Core reduces the burden of compliance dramatically, saving bankers time and money."
Continuity is a Preferred Provider of the Independent Bankers Association of New York State, which has 60 member banks.
"We are incredibly passionate about the fight to reduce the regulatory burden for community banks, and that's why we created the Compliance Core," said Andy Greenawalt, Continuity co-founder and CEO. "A core solution is the only way to reduce compliance cost and risk simultaneously, without disrupting a bank's existing business processes. We are thrilled to be partnering with the Community Bankers Association of Georgia, Independent Community Bankers of Minnesota and Independent Bankers of New York State to help their members get back to the business of banking."
Continuity Co-Founder, Jim Kisch, will host a workshop on Building a Compliance Scorecard at ICBA's national convention, Community Banking Live, at 11:15 A.M., March 2, in Orlando and Continuity representatives will be available throughout the event at Booth #439 to discuss the Compliance Core.
Continuity provides the only Compliance Core™ for community banks and credit unions. The Continuity Compliance Core is engineered to reduce compliance risk and cost for community banks by bringing together strategic planning, technical execution and world-class insight into a single solution, and a single subscription. These services are delivered using a compliance control platform that is continuously updated with the latest regulatory data and best practice compliance processes from other Compliance Core institutions. Built by bankers and former examiners, Continuity's cutting-edge technology and expert personalized service help community financial institutions quickly adapt to regulatory change, streamline the workload and ensure compliance. Continuity is headquartered in New Haven, CT and serves over 200 institutions in more than 40 states. For more information about Continuity, visit www.continuity.net.