New AdvisX CUSO successfully closes its first round of funding

FREDERICK, MD (April 17, 2014) — AdvisX, formerly NB Risk Partners, is a sister company of AffirmX and has a long history of combining real-world compliance experience with pragmatic technological innovations to help financial institutions effectively manage the cost of regulatory risk.

The firm, which was recently converted to a CUSO ownership structure, has successfully completed its initial round of funding. Seven credit unions from four states and the District of Columbia have made investments in AdvisX to ensure that the right solutions are available to help the industry effectively manage regulatory risk moving forward.

“We’re excited about the commitment credit unions have demonstrated to our solutions to date,” said Ken Agle, President of AdvisX. “We are looking forward to enhancing existing solutions and developing new tools to fulfill credit unions’ growing regulatory risk management needs.”

AdvisX was originally founded in 1991 when the firm began providing compliance consulting services. Over the years, AdvisX has expanded to provide a wide-range of regulatory assistance for more than 100 financial institutions. Its expertise includes BSA system validations, HMDA and Fair Lending assistance.

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