Bank automates compliance management with Continuity’s RegAdvisor®Pro, RegControls™ and ControlsBuilder™
NEW HAVEN, CT (April 18, 2018) — Continuity, a leading provider of automated compliance management technology for financial institutions, announced today that Apple Bank, the second-largest state chartered savings bank in New York State with $12.8 billion in assets and 79 branches in greater New York, has selected Continuity’s RegAdvisor®Pro, RegControls™ and ControlsBuilder™ to help manage and address its compliance management needs.
“Continuing to invest and innovate for our clients in a regulatory environment where the intensity on compliance management continues to grow is paramount for Continuity,” stated Mike Nicastro, CEO of Continuity. “We are honored to have been chosen to partner with a well-recognized financial services leader like Apple Bank as it, as well as the entire industry, focuses on the growing complexities of compliance and compliance management.” Continuity offered Apple a centralized platform with the ability to determine what regulation updates affect them, and a better way to track compliance efforts, monitor compliance activity and report data. Apple was looking for a comprehensive approach to its Compliance Management System (CMS) and Continuity’s solutions provide a customized CMS with universally-accepted and custom controls along with the reporting functionality that the bank needed.
“Apple Bank will use our technology to automate and streamline its compliance management processes,” said David Bagley, Chief Revenue Officer of Continuity. “Just as Apple Bank has diversified and expanded in retail and small business banking, our technology will help to automate and centralize Apple Bank’s approach to regulatory compliance and compliance change management.”
“Strong and effective corporate governance continues to be a top priority for Apple Bank, and compliance management is a critical component,” said Steven C. Bush, Chairman, President and Chief Executive Officer. “Continuity’s solution is comprehensive and provides the automation, regulatory updates, and customized tracking, monitoring and data organization tools we need for effective compliance management. We look forward to a strong and enduring partnership with Continuity to meet our regulatory requirements.”
Taking the engagement one step further, Pamela Perdue, Chief Regulatory Officer and EVP of Continuity, and Connie L. Moyer, Esq., FVP and Consumer Compliance Officer at Apple Bank, will jointly participate as speakers on the panel titled “Investments & Advancements in Operational Risk Management” at the Bank Director Reality of RegTech Conference on Wednesday, April 18 in New York City.
This session reveals how financial institutions can embrace innovations geared to functions such as audit and risk management by providing a roadmap that encompasses the appropriate resources and program structure that RegTech requires. Perdue and Moyer will address key issues such as governance, risk mitigation, incident identification, issue tracking, monitoring for compliance obligations, data storage and reporting.
“It is an honor to collaborate with Apple Bank on and off the stage. Sharing insights on how technology can reduce regulatory and operational risk sheds light on techniques that can benefit institutions of all sizes,” said Perdue.
About Apple Bank
Apple Bank, established in 1863, provides consumer and small business banking services in greater New York through its branch network and online banking platform and is an active lender in the commercial real estate and corporate banking sectors. Apple is the second-largest state chartered savings bank in New York State, with $12.8 billion in assets and 79 branches located in the five boroughs of New York City, Long Island, Westchester and Rockland. Visit us at www.applebank.com.