Independent Banker - September 2023 - 63
Compliance
Revolutionizing Banking Compliance:
Automation's Role in Data Integrity
Challenge: Banks grapple with stringent compliance regulations, data reporting requirements and greater need for qualified
compliance staff. Manual data scrubbing is time-consuming, costly and prone to errors, squeezing profits and skyrocketing costs.
Solution: With Encapture, banks can eliminate manual data scrubbing, streamlining data collection and validation. Encapture
ensures data integrity, mitigates compliance regulatory risks and frees up resources for more meaningful tasks, enhancing
operational efficiency.
The role of data in banking has expanded due to increasing
compliance regulations. Banks are turning to automation
to balance existing HMDA data requirements and new CRA
expansion and Dodd-Frank 1071 data collection rulings.
Encapture's automation platform uses machine learning to
efficiently collect and validate data, reducing manual errors and
processing time.
Banks like Cadence, Trustmark, and Veritex have integrated
Encapture into their systems, resulting in significant cost savings
and improved data integrity.
Encapture's automation reduces HMDA document validation
processing time from one hour to under 5 minutes. The
automation also prepares banks
for new regulations, mitigates
employee turnover, and eliminates
reputational risk.
Tyler Barron, CRO
tyler.barron@encapture.com
214.236.9914
Risk Management, Compliance, and Consulting
from Trusted Payments Experts
Challenge/Solution: FedNow® has launched and the RTP® network has surpassed 500 million payments. As you contemplate
your institution's payments strategy, ePayAdvisors™ provides the expertise that can help community banks make key decisions
about how they will deploy emerging payments. We will guide you in aligning internal stakeholders and untangling the
complexities of data, opinions, resource constraints, and compliance considerations that can clutter the payments landscape.
Through ePayAdvisors' Payments Consulting services, our
trusted, certified experts can perform an operational review and
analysis to assess your readiness, identify gaps, and provide
RFP guidance as you embark on your instant payments journey.
In addition to our ACH, Wire, Merchant RDC, and Third Party
compliance audits, we also offer RTP® audits that review your
compliance with The Clearing House RTP® Participant Rules and
the RTP® Operating Rules.
We have the experience community banks need to master the
compliance and risk management challenges of growing their
payments business to meet evolving customer demands.
Tim Quisenberry, AAP
President, ePayAdvisors
tquisenberry@epayadvisors.com
800-475-0585, ext. 1200
epayadvisors.com
http://www.epayadvisors.com
Independent Banker - September 2023
Table of Contents for the Digital Edition of Independent Banker - September 2023
Contents
Independent Banker - September 2023 - Cover1
Independent Banker - September 2023 - Cover2
Independent Banker - September 2023 - Contents
Independent Banker - September 2023 - 2
Independent Banker - September 2023 - 3
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Independent Banker - September 2023 - Cover3
Independent Banker - September 2023 - Cover4
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