If you’re like most Financial Institutions, dedicating existing resources to manage a compliant social media platform and deploying technology to monitor, capture, respond and archive all content has proven to be a time-consuming, difficult, and expensive barrier to breakthrough!
The FFIEC is clear on its expectations of Banks and Credit Unions choosing to participate or not participate in Social Media, per their Consumer Compliance Risk Management Guidance released in December 2013. The documents are quite extensive and detailed, encompassing twelve pages of elements financial institutions should consider regarding social media compliance. While you understand consumer protection and compliance laws, regulations, and policies, you may not have the expertise and technology to enforce social media policies, comply with regulations, archive all content, and provide the required documentation for management, auditors, and regulators. We can help!
BANK MONITOR is a comprehensive “turn-key” service enabling your institution to be “everyday audit ready”. With this powerful tool in place, banks and credit unions are equipped to build a complete social presence on top of a totally compliant infrastructure.