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Read articles written by our product team on the newest trends and information in the banking industry and with Compliance Systems: June 2021 Newsletter.  

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.  

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!

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.

Microsoft has ended support for Internet Explorer 11 (IE11) on June 15, 2022. In alignment with this move, Compliance Systems no longer supports the IE11 browser including Microsoft’s compatibility for Internet Explorer within the Edge browser (“Internet Explorer Mode”) for Simplicity Configuration and Simplicity Runtime as of March 31, 2022. We anticipate that this change may result in better performance of our applications as the removal of IE11-specific code will make those applications smaller with faster load times. Simplicity Mobile was developed to exclude support of IE11 and as a result, no changes in performance should be anticipated for that component.The worldwide usage of IE11 has been steadily declining for years and is currently at 0.73% according to StatCounter and 1.70% according to NetMarketShare. We do not anticipate that our discontinuation of IE11 support will negatively impact our clients or partners.You are receiving this message because our records show your inst

During the week of September 4th we will be updating our cloud environments encryption security policy. Our existing security policy enforces TLS 1.2. The new security policy will allow for communication using both TLS 1.2 and TLS 1.3. Any access of TruStage Compliance Solutions (formerly Compliance Systems) applications through a URL containing “compliancesystems.cloud” will be affected.Since this change is only additive and does not remove existing support we do not anticipate any issues, however, we are informing you of this change to both provide visibility and also to allow you to begin taking advantage of the enhanced security and performance of TLS 1.3. In most cases your browsers and applications will automatically use the highest security available, however, your IT department can advise you as to whether or not changes will be required.This update is scheduled to be in our DEV and TEST environments Tuesday, September 5th and PROD environments Thursday, September 7th.Please re

Our teams continue to work on expanding our products to help your institution do business more effectively. Check out our Q4 highlights video to view some of these enhancements.If you'd like to share this video with others who are not registered here in the Lounge, please click this link. 

Our teams continue to work on expanding our products to help your institution do business more effectively. Check out our Q3 highlights video to view some of these enhancements.If you'd like to share this video with others who are not registered here in the Lounge, please click this link. 

Read articles written by our product team on the newest trends and information in the banking industry and with Compliance Systems: December 2019 Newsletter December 2019 Newsletter Link

Compliance Systems is always striving to improve our solution and our support offer to help you better manage your business. We’re proud of the enhancements we made this year to our Simplicity applications as well as the support resources you depend on. Please check out this 3-minute video that summarizes some of the changes delivered to you in 2020. 

Here at TruStage Compliance Solutions, our teams continue to work on expanding our products to help your institution do business more effectively. Please check out our 2023 Q2 highlights video to view some of the enhancements we have made to Configuration and Compliance Safety Net.To share this video with additional team members, click this link. 

We have updated our sending email address. If you receive email messages from our community lounge, these are now coming from ComplianceSolutionsCommunications@trustage.com.Be sure this is on your organization’s safe list to ensure you get all the communications you are used to.

Microsoft has recently released a patch to address a vulnerability exposed with its Windows print spooler service. This is an issue affecting a wide range of Windows systems.Compliance Systems has taken appropriate steps to disable print spooler services that are not critical. Our parent company, CUNA Mutual Group, is taking the lead on implementing security patches and ensuring distribution across all potentially impacted systems. Both our cloud environment servers and the internal servers used by our staff have been successfully updated with the recommended security patches. We will continue to monitor the situation as our understanding of the issue and Microsoft’s guidance may lead us to identify additional remediation measures.If you have questions, please reach out to us at support@compliancesystems.com.

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.

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/

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. 

It has been recently reported that the software provider Kaseya Ltd. was impacted by a ransomware attack by REvil. Kaseya is a Miami-based company providing commercial network management software.Compliance Systems does not use any Kaseya-native software or services in our partner cloud environments or our internal systems. Compliance Systems does use Unitrends for internal storage backup; this company was acquired by Kaseya several years ago, but is not part of the Kaseya organization impacted by this ransomware attack. We continue to monitor the situation to ensure there are no impacts on Compliance Systems.If you have questions, please reach out to us at support@compliancesystems.com.

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.

Read articles written by our product team on the newest trends and information in the banking industry and with Compliance Systems: September 2019 NewsletterSeptember 2019 Newsletter Link

Pem Guerry, Executive Vice President at SIGNiX, returns to talk more about identity fraud - specifically where financial institutions are vulnerable and what they can do to fix it.Please click this link to listen now.

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

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. 

In this episode, Amy Ferguson is joined by Joel Haitz, attorney, and Melanie Reidl, compliance manager, to discuss how for years, contract language has been a challenge to decipher for consumers. Some call it ‘legalese’ while others just call it confusing. That led to an exercise in redrafting our contract language to make it easier for consumers to understand. Please click this link to listen to the episode.

Carrie Goodman, Director of Financial Institution Management at TruStage Compliance Solutions, alongside a group of financial industry panelists, sat down with Lou Carlozo for his Bankadelic podcast to discuss financial services trends and what they look forward to in 2024.  Click here to listen to this podcast.