Complimentary E-Guide: The Role of Technology for Regulatory Compliance in the Insurance Industry

Fair Lending Risk and Compliance Solutions

Fair Lending

Regulatory Risk and Compliance
FIELD GUIDE

ABA Endorsed Solution for Risk and Compliance Management Software

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Customers Using Predict360's AI-Powered Solutions
First Hawaiian Bank
HomeTrust Bank
First Bankt Gateway
Park National Bank
Kearny Bank
Oriental Bank
HarborOne Bank
Home Loan Investment Bank
First Commonwealth Bank
Byline Bank
Republic Bank
Choice Bank
United Bank
Atlantic Community Bankers Bank
BHG Financial
First Foundation
Coastal
Citizens Business Bank
Lincoln
cbibanks
QCR Holdings
Fulton Bank
Central Pacific Bank
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Trident Trust
Alden
Drummond Community Bank
First National Bank

Starting or updating your Fair Lending risk and compliance journey?
Discover how Predict360’s fair lending software and partner content can streamline regulatory risk and compliance. Let’s embark!

Fair Lending

1
Identify and Analyze Impact

Whether there is a new regulation or an update to an existing Fair Lending regulation, it’s critical to understand the regulatory requirements, if and how the requirements impact your financial organization from a risk and compliance perspective, and then track and manage operational changes. Learn how banks, credit unions, fintechs, insurance companies, and other financial institutions manage regulatory changes and action plans seamlessly with the following fair lending risk management software solution components:

Fair Lending

2
Quantify Applicable Risks and Controls

After identifying a new regulation or regulatory change, evaluating its impact, and commencing the implementation process, it’s time to evaluate risks. You may ask, “What new compliance risks are introduced by these requirements, and how do they map to my overall Fair Lending risk management framework?” To streamline gap analysis, you can compare your risk library with industry standard libraries from Crowe, the ABA, and 360factors to identify gaps and map them to your taxonomy by product, process, or business area. Standardizing how risks and controls are evaluated and quantified enables you to achieve a powerful enterprise view of your organization’s risks. Solution components:

Fair Lending

3
Connect Policies and Procedures

Risk and control assessments empower your team to identify and map related policies and procedures and assess those that may require creation or updates. In addition to policy and procedure documents, Predict360 fair lending compliance software also enables your team to map controls, testing scripts, regulations, training documents, and other artifacts to risks – as well as activity and task management workflows to manage updates for each artifact. Learn more about:

Download the Field Guide

Jumpstart your regulatory risk and compliance management program with industry-native technology and best practices content from ABA-endorsed 360factors and our partners.

Fair Lending
Fair Lending

4
Conduct Testing and Monitor Issues & Complaints

Are you aware of emerging issues in between your regularly scheduled Fair Lending risk assessments? Control testing helps your team manage control performance and effectiveness. Additionally, if you are regularly monitoring Fair Lending complaints, you can identify any emerging risks that may arise from internal operations and third-party partners – before they become issues.

Fair Lending

5
Predict Emerging Risks

Predict360 Risk Insights identifies existing risks operating outside of KRI tolerance levels and predicts emerging risks using Artificial Intelligence. By mapping optional external data to risks, like enforcement actions and trends, your team is empowered to have a forward-looking view of where risks may emerge and mitigate them proactively.

No matter where you are in your Fair Lending risk and compliance management journey, our team and partners are here to empower your team with solutions built by banking and financial industry experts for financial organizations. Schedule a demo today!

Why Choose 360factors?

360factors empowers organizations to accelerate profitability, innovation, and productivity by predicting risks and streamlining compliance.

Complete GRC

Complete GRC

All the GRC tools you need integrated in one solution
Basic to Enterprise

Basic to Enterprise

From simple risk assessment to complete risk register and control testing
Speed & Execution

Speed & Execution

Insights into your risk program & control effectiveness
Fast Implementation

Fast Implementation

The cloud-based solution can be integrated within days
Flexible and Modular

Flexible and Modular

Pick the modules you need for your business
Easy to Use

Easy to Use

Automation and an intuitive interface ensure ease of use
What Customers Say About 360factors

Learn How 360factors Empowers Customers to Manage Their Risk and Compliance Programs with Ease.

We look forward to working with 360factors to advance our enterprise risk and compliance programs for the bank while increasing the products and services we offer to the community.

Mark Casel Chief Risk Officer

We selected Predict360 due to its ease of use, banking industry design, and endorsement by the American Banker’s Association.

Eric Sprink President & CEO

Predict360’s banking workflows, risk library content, and endorsement from the American Bankers Association are a great fit for our bank.

Julie Dahle EVP and Chief Risk Officer

Predict360’s out-of-the-box applications designed specifically for banks our size along with their banking content was a significant influence in our selection of 360factors.

John Dunne EVP Chief Risk Officer

As part of our initiative to expand our products and services, we wanted to enhance our enterprise risk and compliance management to support this growth. Predict360 will enable our team to meet these goals efficiently.

David Claussen Chief Risk Officer

360factors’ solutions, powered by artificial intelligence, enables our organization to adapt and respond effectively to the ever-changing regulatory compliance landscape.

Joanna Chancellor Business Support Manager

The powerful features combined with the easy implementation of the cloud solution made Predict360 a great fit for our organization.

Steve Parker Chief Executive Officer

We believe our collaboration with 360factors and the technology they bring supports our vision for the future.

Gina Anonuevo Chief Compliance Officer

Deploying Predict360 is another step by us towards becoming a more streamlined and efficient organization.

Crystal Barnes Regulatory Compliance Specialist

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