Computer Services Inc. WatchDOG Social Compliance
CSIís WatchDOG Social Compliance solution supports financial institutions in successfully managing their risk assessment strategy surrounding mandatory regulations governing the use of social media. Institutions implementing the solution can more easily comply with regulatory requirements, enabling them to actively participate in social media without the risk of incurring compliance violations that could result in costly fines or sanctions.
Key reasons WatchDOG Social Compliance is an innovative approach to compliance:
1. WatchDOG Social Compliance provides banks with an array of comprehensive tools to ensure compliance with proposed FFIEC guidance related to social media, including archives of all Facebook, Twitter, YouTube and LinkedIn posts for required timeframes; user-designed approval processes to ensure posts meet regulatory guidelines; targeted search capabilities; reputation and sentiment analysis; and evaluation of the institutionís competitive landscape.
2. In conjunction with the latest guidance from the Consumer Financial Protection Bureau surrounding unfair, deceptive or abusive acts and practices, the solution provides users with a comprehensive method for managing customer complaints as part of its key offerings.
3. Additionally, WatchDOG Social Compliance enables customers to more efficiently manage regulations associated with the Truth-in-Lending Act, Gramm-Leach-Bliley Act and other regulatory guidelines, which fully supports the institutionís efforts toward leveraging social media in the safest way possible.
4. In addition to ensuring institutions are in compliance with regulatory guidelines, the solution also provides federal regulators with the level of information necessary to complete their annual assessments.
5. WatchDOG Social Compliance allows financial institutions to maintain a firm grasp on the latest trends relevant to their valued customers and provides positive differentiation among their competitors.
Computer Services Inc.