Last week CU Insight published a set of questions to ask RegTech vendors. The article, titled "4 Questions to Ask Regtech Vendors" by Cindy Williams, the VP of Regulatory Compliance at Policyworks, identifies the key questions Credit Unions should be asking RegTech vendors. We agreed, so here are the questions and our answers:
1. May we talk with your clients?
Absolutely! In fact, we prefer that our clients not only talk with each other but interact with each other on our platform. Trust Exchange is a community. Trust Exchange solves the compliance knot by applying social technologies to the problem and enables Credit Unions and Vendors to securely exchange the key information required to obtain and maintain compliance. So...when you invest in Trust Exchange, you're investing in a community.
We have over 20K users on our platform but here are a few of our recent Credit Union clients:
2. What are the qualifications of your principal employees?
The biographies of our full executive team can be found here: www.TrustExchange.com/Team
Our Founder and CEO, Edward Sullivan, has extensive experience building and scaling mission critical software platforms across many industries serving clients such as Apple, HP, IBM, Disney, Dreamworks, SONY, Cisco, CSC, VMWare and EMC.
However, as mentioned above, Trust Exchange is more than a platform, it is a community. Our key partner in the Credit Union community is AuditLink (CUAnswers) led by Jim Vilker who has been in the credit union compliance, regulatory, and audit space for over 30 years. Over that time he has served as a regulator, credit union executive, and currently as the leader of AuditLink. He leads a team of audit and compliance professionals who leverage Trust Exchange to automate the key tasks for Vendor Compliance Monitoring.
3. Which security protocols are in place and which are planned for the future?
The Trust Exchange platform operates on AWS (Amazon Web Services) , and leverages the latest technology and security protocols for our core platform and document management systems. Via AWS, Trust Exchange can keep your data safe, meet compliance requirements, scale quickly and save you money. If you'd like to learn more about the latest and newest protocols being implemented at Trust Exchange, you can follow the updates here.
4. How does the product actually work?
As mentioned above, Trust Exchange is a community of Credit Unions and Vendors who securely exchange key compliance information to keep each other compliant and informed. We've produced a series of short videos demonstrating our product and it's key features.
If you'd like to learn more, please contact us for more information or a demo.