Kasasa unveils new compliance solution, RegGen
The company that began the year offering the only loans with take-backs is now entering the regtech space with its latest compliance tool, RegGen. The solution from Kasasa enables banks and credit unions to create account holder disclosures and marketing disclaimers that are a required component of the firm’s checking and savings accounts, reports David Penn at Finovate.
To use it, FIs need to respond to a set of set-up questions (nine for marketing products, two for account holder disclosures). Those responses are stored by RegGen and added to the FIs’ disclosure and marketing statements.
Banks can use their FIRSTBase credentials to access and download Kasasa’s reference manual which includes instructional videos on how banks can make the most of RegGen’s features.
Calling the current compliance drafting process “research-intensive, time-consuming and expensive” for many FIs, Kasasa CEO Gabe Krajicek says. “With RegGen, our clients’ marketing and compliance professionals have compliance at their fingertips. Now they can create, edit and customise disclosures and disclaimers in minutes rather than hours.”
The company also notes that RegGen provides “responsible guidance” but does not replace the guidance from a compliance officer or consultant, or from legal counsel.
In other news, this spring, Kasasa partnered with MicroStrategy, integrating its product research and marketing tools into Kasasa’s business intelligence platform, Insight.