March 3, 2016 2:55 pm

By, Cody Roberts

American Bank Systems provides a wide range of products and services including both software and consulting services. One of the most intriguing of these software applications is CompliancePro.

CompliancePro is a fully automated browser-based software system that enables you to manage and monitor compliance performance efficiently and effectively throughout your institution. Another way to view CompliancePro is the “compliance assistant” that positions you to optimize your performance, while minimizing your expenditures of both time and money to assess, manage and monitor compliance risk by product or service.

CompliancePro provides multiple benefits to your compliance department. The software:

  • Pivots the database of procedures to monitor by line of business or regulation
  • Provides an automated system for measuring and monitoring compliance with federal laws/regulations
  • Maintains a calendar of monitoring activity
  • Allows follow-up monitoring and trend analysis of compliance monitoring results and corrective action plans
  • Incorporates procedures which mirror regulatory examination procedures
  • Can be easily customized to monitor compliance with bank policies/procedures and unique state regulations
  • Maintains an electronic file of supporting work papers
  • Minimizes preparation time for regulatory examinations through the “snapshot” report that prepares documentation of compliance risk assessment and monitoring activities
  • Provides a comprehensive database of compliance monitoring procedures maintained by ABS compliance experts
  • Facilitates centralization of the compliance function with decentralized monitoring (as desired)
  • Tracks action plans to correct compliance issues
  • Provides a “history” of compliance issues, complete with “alerts” in future monitoring activities (by procedure)
  • Facilitates effective scheduling by calculating time spent on compliance monitoring activities
  • Provides customizable risk management including the analysis of inherent risk and mitigating factors

If you would like to experience CompliancePro for yourself, schedule a demo at: