NEW HAVEN, Conn.—Continuity, a compliance solution provider for community financial institutions, has introduced its new Compliance Core. The company said that Compliance Core is engineered to reduce compliance risk and cost for community financial institutions by bringing together strategic planning, technical execution and world-class insight into a single subscription service. Continuity cited the Banking Compliance Index, which found 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.
The company said that at the heart of the Compliance Core is the Regulatory Operations Center (ROC), the think tank behind the BCI. 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 Continuity’s Control Platform, it said.