360factors becomes Associate Member of Texas Bankers Association to provide compliance management software services to Texas Banks
AUSTIN, Texas, Apr. 2, 2015 /PRNewswire-iReach/ — Austin-based Risk and Compliance management Software Company 360factors developed a software solution that is cloud-based, simple and cost-effective to meet the compliance needs of small and medium-sized banks. Once considered cost prohibitive and restricted to large banks, 360factors makes this innovative technology available to small and mid-sized banks as a competitive differentiator. Joining the Texas Bankers Association (TBA) is an affirmation of its roots in Texas and the drive to reduce risks for Texas-based banks.
360factors CEO Ed Sattar said, “I have been in Texas for the last 25 years. And having started several businesses, I want to continue to serve the community in Texas in any way I can. 360factors and its compliance product is yet another way to ensure that Texas banks can weather the unpredictable winds of regulations, and succeed. Working with the TBA is a no-brainer as they are the premier leadership organization and principal advocate for all Texas Banks.”
Since 1885, the Texas Bankers Association has been working to create a dynamic and profitable environment for Texas banks. This environment has provided a healthy atmosphere for the industry as well as resources and services to benefit bank employees.
Please visit http://www.360factors.com/banking-financial-risk-management-software/ for more information.
360factors started as a germ of an idea when after a decade of dealing with regulators and regulations, 360factors decided to automate the process. Soon additional functionality using natural language processing and cognitive technology was built to accommodate the requirements related to policy and procedures, risk management, case management and other functional components. 360factors focuses on the Oil & Gas and the Banking & Financial Services industries. To better serve each of these industries, separate business units were created.
The Banking and Financial Services (BFS) business unit today boasts of about 60 banks as current clients and has just recently released a comprehensive Anti-Money Laundering (AML) solution.
“A cooperative working relationship with the Texas Bankers Association will enable local community banks to take advantage of a very cost-effective solution that addresses all their AML needs. We have a full end-to-end solution which integrates easily with the bank’s current transaction monitoring system,” said Rosanna Lynn, Director of Product Management for the BFS business unit.
Source: Yahoo! Finance