Press

Illinois-based credit union to utilize compliance and vendor management tools

NAPERVILLE, IL (February 12, 2015) — Financial Abatement Services Inc. (FASI), an affiliate and distributor of Lending Solutions Incorporated (LSI), is excited to announce that Baxter Credit Union (BCU) has implemented ViClarity’s Enterprise Risk Management (ERM) solution. The credit union will be using ViClarity’s web-based software in the areas of risk, compliance, and vendor management tracking.

ViClarity’s Enterprise Risk Management solution allows its clients to track and monitor performance and compliance in their organizations. The tool can be used to gather and verify performance/compliance data and enables managers to view performance in real time on a single user- friendly dashboard. The system tracks and enables the ongoing monitoring of key strategic, operational or compliance objectives/ metrics and effectively drives accountability at different levels of management within the organization. The software maintains a full trail of all activities for audit purposes and provides robust reporting.

“The management of BCU’s existing vendor review process has always been a manual process using a number of non-integrated systems. As a result, the annual review process was a time- consuming undertaking to manage,” stated Cheryl Turner, BCU vendor management and contracts administrator. “The introduction of the ViClarity ERM solution has drastically improved my ability to efficiently manage BCU’s vendor management program for existing and new vendors. The software is simple to use, customizable and implementation took no more than a few weeks.”

CJ Presto, Chief Financial Officer of BCU, adds, “We’re excited about all of the tools that the ViClarity solution brings to BCU. The benefits of enhanced accountability and tracking are especially significant in today’s business environment.”

“Financial institutions are under enormous pressure to manage risk and compliance in the emerging and ever-changing regulatory environment,” states Mark Johnson Chairman of Lending Solutions and Director for FASI. “This software provides the institutions with a central depository which can manage all areas of their business while increasing productivity and accountability, while minimizing overall risk.”

John Ogie Sheehy, Founder & CEO of ViClarity Ltd. said, “Effective management of risk and compliance in financial institutions has never been more critical and does not have to be a complicated or manual process. Simplicity is the key to success and we strive to provide a simple yet powerful tool to enable organizations to do this.”

About Financial Abatement Services, Inc. (FASI)
Since March of 2012, FASI has remained true to its mission: to provide new and innovative products and services to the Financial Services industry. FASI has partnered with leaders in financial services to help banks, credit unions, and other financial institutions (FIs) become more efficient with their operation, while providing better service to their customers. FASI’s human support provider Lending Solutions Inc. allows financial institutions to expand their hours and allocate staff more effectively during the day. Alternative Lending Programs have been developed to assist Financial Institutions in approving their denied members/customers and thereby retaining their existing banking relationships. FASI has partnered with ViClarity to be their Reseller for the United States market. For more information, please visit our website at www.fasinate.com

About ViClarity
ViClarity is a company that was founded in 2008 by Ogie Sheehy in Ireland. In a short space of time the company has grown exponentially and secured a strong foot hold in two key sectors health care and financial services compliance. It has designed and developed a highly innovative technological software solution to help bring visibility and clarity to all aspects of compliance. It has secured a high profile client base with healthcare companies such as Mowlam, MHA and most recently the NHS using its technology solution. In financial services it boasts over 85 Irish based credit unions, insurance clients such as ALD RE: (SocGen), Irish Insurance Federation and many more. With offices now in Ireland, London and Chicago it continues to grow its client base globally with its innovative technology. ViClarity’s uniqueness comes from its ability to deliver world class risk and compliance software that enables users/officer manage an increased burden of compliance in a highly visual and intuitive tool. For more information, please visit www.viclarity.com