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In this episode, we will have a conversation with Steve Bishop, Chief Operating Officer at OMB Bank and Jordan Ennest, Product Specialist & Counsel from Compliance Systems about how financial institutions are leveraging digital banking solutions to meet the changing needs of their client base.Please click this link to listen now.

Here at Compliance Systems, our teams continue to work on expanding our products to help your institution do business more effectively. Please check out our 2022 Q4 highlights video to view some of these enhancements.To share this video with additional team members, click this link.   

The CSinsider Newsletter features articles written by our product team on the newest trends and information in the banking industry. To read these articles, please click here to view the December 2022 Newsletter. 

In episode six of the Compliance Insider, we take a closer look at crypto custodians and how their role is different from the role usually played by financial institutions, along with some considerations for banks and credit unions that may want to offer crypto custodian services.Please click this link to listen now. 

Elevating the Banking Experience for All: Our Conversation with Sarah Murray of Compliance SystemsCongratulations to Sarah Murray, Deposit Product Manager with Compliance Systems, for her write up in Finovate's Women in Fintech series. Click here to read the interview and learn more about Sarah and her perspective on the impacts of technology in the financial industry.

Compliance Systems President, Chris Appie and Ronny Chapman, Senior Vice President, FinTech Solutions at our parent company, CUNA Mutual Group recently joined the FinTech Cowboys, Dave and Tanner Mayo, to discuss industry trends that impact financial institutions and consumers. Click here for the podcast episode. 

This cloud-based solution helps financial institutions streamline their treasury management operations and delivers highly configurable, cost-effective compliant content from a proven technology partner. Click here to read the press release in full. 

In this episode, we’ll discuss some best practices and considerations to keep in mind when operationalizing your treasury management services. Please listen now, here: https://complianceinsider.compliancesystems.com/e/5-treasury-management-services/

Financial organizations large and small have routinely struggled with the complexity and nuance surrounding Inherited IRAs. These challenges have only worsened following the SECURE Act of 2019 and the Treasury Department’s subsequent release of proposed required minimum distribution regulations.Compliance Systems and our partner, Convergent Retirement Solutions, are offering an Inherited IRA Best Practices Review Program to guide your organization through a review of your processes, policies, reporting structures, and system capabilities - then connect you with the experts who can help you improve your procedures to maximize your operational efficiency.Please take a look at the attached PDF for more details, and reach out to us at clientservicesrep@compliancesystems.com to sign up or for more information.

Here at Compliance Systems, our teams continue to work on expanding our products to help your institution do business more effectively. Please check out our 2022 Q3 highlights video to view some of these enhancements.To share this video with additional team members, click this link.  

Compliance Systems recently partnered with Convergent Retirement Plan Solutions to offer three complimentary webcasts to our clients on the changes in the IRA beneficiary distribution rules. Those recordings are linked below so you can take advantage of this information. Please note that while you are asked to register, there is no fee and you will have immediate complimentary access to the recording.Updating Your IRA Beneficiary Processes, Part 1. We outline the challenges posed by the new RMD regulations and discussed several new initiatives we were working on to help IRA providers adapt to these changes.Updating Your IRA Beneficiary Processes, Part 2. We introduce several new forms that have been developed to help simplify the process of complying with the new beneficiary distribution rules and walk through each of them, step-by-step. In addition, we share several industry best practice recommendations and unveil a new audit program designed to assist IRA providers who want to explo

In this Compliance Insider episode, we discuss the FTC’s proposed rule on motor vehicle sales and disclosures, and the potential impacts it may have on lenders and the industry as a whole.Please listen now here: https://complianceinsider.compliancesystems.com/e/4-proposed-ftc-auto-dealer-rule/

In this Compliance Insider episode, we focus on short-term, no interest credit products offered at the point of sale online and the CFPB’s recent interest in them. We also discuss how financial institutions can compete with these products. Please listen now here: https://complianceinsider.compliancesystems.com/e/3-buy-now-pay-later/

Click here to read articles written by our product team on the newest trends and information in the banking industry within the Compliance Systems: September 2022 Newsletter.

Our teams continue to work on expanding our products to help your institution do business more effectively. Check out our Q2 highlights video to view some of these enhancements.To share this video with additional team members, click this link. 

It’s taken ten years to get to the Notice of Proposed Rule Making (NPRM) for Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This episode of the Compliance Insider podcast reviews what you need to know as the CFPB gets closer to its final rule. Please check it out at https://complianceinsider.compliancesystems.com!  

Read articles written by our product team on the newest trends and information in the banking industry and with Compliance Systems: June 2022 Newsletter. 

The Compliance Insider is the podcast series by Compliance Systems that brings you discussions about industry developments that impact your financial institution, with expert guests and analysis to help navigate change and evolve business. Our first episode, Cryptocurrency and the Legal Landscape, focuses on some recent federal and state developments in cryptocurrency and looks at their impact on financial institutions as well as considerations for institutions as potential crypto custodians and lenders perfecting a security interest with crypto collateral. Please check it out at https://complianceinsider.compliancesystems.com!

The new IRA beneficiary rules resulting from the SECURE Act and the proposed regulations are complex, and putting them into practice requires a fresh, wholistic approach to Inherited IRAs. By examining your financial organization’s current policies and procedures as it relates to Inherited IRAs through the lens of the Inherited IRA Best Practices Audit, you can reengineer your financial organization’s IRA program. By incorporating these best practices recommendations, your organization will experience increased efficiency while consistently processing compliant transactions, reducing risks for both your financial organization and your customers.Topics addressed includeRequired documents Operational/transactions forms Death transition process Communications Reporting System capabilities TrainingThere are two formats of the Inherited IRA Best Practices Audit: remote or on-site. You choose what best suits your needs.To receive more information regarding the Inherited IRA Best Practices Au

Compliance Systems has become aware of a vulnerability impacting Atlassian Confluence, which can allow for unauthenticated remote code execution. This is being tracked by Atlassian as CVE-2022-26134. Compliance Systems does use the Atlassian Cloud instance of Confluence. According to the latest Atlassian advisory notification, this instance is not vulnerable and Atlassian has found no evidence of exploitation. Additionally, Compliance Systems does not use Confluence for transactional or highly sensitive information. Our client and partner privacy and information is critical to us and we will continue to monitor the vulnerability and provide updates if circumstances change.For details from Atlassian regarding CVE-2022-26134, please see the following:https://confluence.atlassian.com/doc/confluence-security-advisory-2022-06-02-1130377146.html

Our teams continue to work on expanding our products to help your institution do business more effectively. Check out our Q1 highlights video to view some of these enhancements.To share this video with additional team members, click this link. 

The new Computer-Security Incident Notification Rule (36-Hour Rule) was created by the FDIC to require reporting obligations for ‘bank service providers’ who experience a ‘computer-security incident,’ effective May 1, 2022.Compliance Systems does not fall under the definition of a ‘bank service provider’ and therefore, is not subject to this rule.Notification requirements and processes for security-related incidents are detailed in Compliance Systems’ annual SOC 2 reports.

This video is an overview of what our commercial lending product offers including promptable provisions, configurable signature blocks, and Deal Maker.To share this video with additional team members, click this link. 

Read articles written by our product team on the newest trends and information in the banking industry and with Compliance Systems: March 2022 Newsletter. 

This message is intended for our business partners. Financial institution users should not be impacted and can disregard this message.Compliance Systems is planning to perform server maintenance on Saturday, February 26, 2022.This maintenance will be performed between 1PM and 6PM ET. The Compliance Systems Partner Portal will be unavailable during this time. This maintenance will not impact any of our solution Production environments. Financial institutions will be able to complete transactions as normal.