Continuity Control Among Innovative Companies to Showcase Technology at FinovateSpring 2010
Company selected from competitive field for its new approach to compliance
NEW HAVEN, Conn., March 25, 2010 – Continuity Control™, the creator of an on-demand, Web-based software foundation for financial institution controls that automates the regulatory compliance process for community banks and credit unions throughout the United States, announced its recent selection by Online Financial Innovations to provide a demonstration at its upcoming FinovateSpring 2010 conference on May 11 in San Francisco. This event showcases the most cutting edge financial and banking technology innovations, and Continuity Control was selected from a competitive field for its breakthrough approach to organizing and simplifying the work of compliance and its use of collaboration.
“We’re excited to have Continuity Control demo at FinovateSpring,” says Eric Mattson, CEO of the Finovate Conference Series. ”Compliance is a critical issue for any financial institution and ripe for innovation.”
Continuity Control (Control) is a Web-based, SaaS (Software as a Service) software foundation for financial institutions’ controls. Applications (Apps), customizable software that simplify the work of compliance by turning it into a set of simple steps called “ToDos,” automating those steps and delivering reporting to satisfy oversight requirements, are housed on the platform. Control helps address the overall burden and the issue of ever-increasing government oversight, as well as the amount of work, resources and costs associated with compliance. The company refers to these aggregated costs as the Compliance Tax™.
“FinovateSpring offers a unique opportunity to gather the latest industry technology and key executives together for a day, and we are extremely pleased to be selected as a participant,” Andy Greenawalt, CEO of Continuity Control, explains. “Risk and compliance costs will continue to rise, placing many community financial institutions at a competitive disadvantage if a cost-effective solution is not implemented. Control offers an answer to cost-effectively address this Compliance Tax, and the recognition of our innovative technology by Online Financial Innovations is an exciting addition to the support and acknowledgements that we have received throughout the industry with awards, strategic partnerships and a growing customer base.”
In 2009, Continuity Control was also selected by the Connecticut Technology Council as a 2009 Company to Watch during its annual Pipeline Innovation Awards. This was followed by Control winning the customer choice Best Value/ROI award from the Financial Technology Insight: Best Practices in Global Banking Summit and being featured on Online Financial Innovations’ prominent industry blog, Netbanker.com, among the best solutions at the BAI Retail Delivery conference. Recently, the company launched ComplianceTax.com to help financial institutions calculate their Compliance Tax.
About FinovateSpring
FinovateSpring is a demo-based conference for innovative start-ups and established companies in the fields of banking and financial technology. Held in the entrepreneurial hotbed of San Francisco, the event offers an insight-packed glimpse of the future of money via a fast-packed, intimate and unique format. FinovateSpring is organized by Online Financial Innovations. For more information on the event, or to view previous demos, please visit www.finovate.com/spring2010.
About Online Financial Innovations
Founded in 1995 by former banker Jim Bruene, Online Financial Innovations is a Seattle-based research company. OFI is best known for publishing the Online Banking Report, a regular newsletter featuring in-depth analysis, relevant data and informed recommendations to financial executives in 50 countries. For more information and free sample reports, visit www.onlinebankingreport.com, e-mail info@netbanker.com or call (206) 517-5021. You may also find OFI’s blog on the latest in online finance and banking at www.netbanker.com.
About Continuity Control
Founded in 2008 by Software as a Service (SaaS), banking and compliance veterans, the company has pioneered the use of collaboration and social networking among banks, credit unions and industry providers to create compliance and continuity solutions that manage policies, procedures and audit programs. Continuity Control provides an innovative, on-demand platform for regulatory compliance that dramatically simplifies operations and can be understood by every employee of a financial institution. For more information visit www.continuity.net.
CONTACTS:
Marvin (Mickey) Goldwasser
Continuity Control
203.903.0124 x302
mgoldwasser@continuity.net
Nneka Egwuatu
Media contact for Continuity Control
678.781.7229