Compliance landscape shrinks as AffirmXCU acquires ComplySight

Register now

Compliance-management firm AffirmXCU has purchased ComplySight, an application that tracks and measures compliance.

“We are committed to adding more value to our membership offerings,” Caroline Willard, president and CEO of Cornerstone Credit Union League, said in a press release on Friday. “With this purchase, two extremely strong and unique compliance management systems (ComplySight and AffirmX) will exist under the same ownership and keep pace with ever-changing technological demands. As a result, we are confident our member credit unions will have even more opportunities and offerings to assist with regulatory compliance and risk management.”

Through ComplySight, members can access to an alert system controlled by compliance experts. They also receive “custom reporting and information-gathering tools that allow them to better understand internal risks before they become audit findings,” according to the press release.

Current users of ComplySight should not experience any disruption during the transition, the press release said. Additionally, AffirmXCU isn’t planning to change ComplySight pricing in 2020.

AffirmXCU was bought earlier this year by a group of leagues and credit union service organizations, including Credit Union Resources, a CUSO of the Cornerstone Credit Union League.

For reprint and licensing requests for this article, click here.
Compliance systems Compliance Compliance reviews Financial regulations CUSOs Vendor management Cornerstone Credit Union League
MORE FROM AMERICAN BANKER