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Full-Population Compliance Testing is Inevitable

As the cost to maintain compliance rises and regulatory expectations increase, many financial institutions still rely on sample-based manual compliance testing. 

In our last blog, we discussed two primary reasons why, including a lack of technology and a fear for what may be uncovered. 

Despite these concerns, a new approach to compliance management is needed: full-population testing. 

Do you want to be an innovator?

With full-population testing, the industry’s most innovative financial institutions are testing entire portfolios in just minutes to quickly determine if it is compliant with all laws and regulations. 

Institutions can prevent both regulatory and customer issues through early detection and remediation, providing a fair and equitable experience for ALL customers. 

This provides for a more innovative and sustainable compliance management approach, and offers a competitive advantage for lenders and servicers, allowing them to serve clients with complete trust and transparency. 

We’re revolutionizing compliance management. 

Azimuth GRC is the first and only company to break down every law to its most granular level – key to integrating regulatory compliance into financial institutions’ operations and developing algorithms for full-population testing.

Unlike any other platform, it replaces sample-based manual testing with full-population automated compliance testing. Institutions can quickly test an entire portfolio and determine if it is compliant, including the CFPB Servicing Module.

Azimuth GRC ingests the same laws as traditional data providers, but that is where the similarities end. Other data providers deliver the laws in a .pdf format, making it challenging to operationalize. Azimuth GRC divides each law down to the sub-section level and then turns each sub-section into its own database element. This comprehensive process makes it possible to operationalize the laws across the entire organization.

Additionally, Azimuth GRC provides full reporting, real-time dashboards, and advanced analytics to allow financial institutions to monitor the state of their compliance program. 

Our goal is to develop the best-in-market agile regulatory compliance solution that drives compliance with all federal and state laws and provides full-population compliance testing of the entire loan portfolio. As a result, financial institutions can stay ahead of the curve.  

Don’t get left behind. 

Schedule a demo today to learn how you can transform your compliance management efforts with full-population testing.