FI Compliance Solutions added a new risk monitoring solution, ERM 365, to its product lineup, designed to help banks constantly monitor the health of their institution through an easy-to-use cloud-based software solution.

ERM 365 will contain an expert-developed library containing risk and compliance related rules, a risk monitor, automated alerts, notifications, and more. As with all of FI Compliance Solutions offerings, unlimited implementation support, online training, and advisory services are included at no extra charge.

“Over the last year we spent countless hours talking to our clients, and conducting focus groups with noncustomers to better understand how we can help solve their problems. The result was ERM 365—Enterprise Risk Monitoring 365 days a year,” says Eric Strohl, president and CEO of FI Compliance Solutions. “Institutions are frustrated with spread sheets, and the board of directors and senior management were looking for a solution to see the big picture without seeing all the details.” ERM 365 delivers all that and more.

Taryn Wilson, vice-president and compliance officer for The Cooperative Bank of Cape Cod, an early adopter of ERM 365, agrees: “While the pricing was certainly attractive, the demonstrated functionality sold us as it closely aligned with our current manual process. The board reporting feature with the heat map was an added sell as we don't currently have a good way to keep directors informed without providing the minutiae.”

http://www.ficsas.com/