RiskExec, Inc., a subsidiary of Asurity Technologies, has disclosed that SoFi, a digital personal finance company, will utilize RiskExec's software to fulfill its compliance and reporting needs.
This move underscores RiskExec's position as a trusted compliance solution for modern financial institutions, offering swift geocoding of data, rigorous edit checks, and insightful analyses across various sectors, including banking, mortgage lending, credit unions, automotive lending, and digital lending.
Angela Smedley, CRA Officer at SoFi, has expressed her appreciation for RiskExec's improved geocoding capabilities, customizable features, and exceptional customer support. She said these attributes have enabled the company to enhance efficiency in its consumer loan review process, ultimately contributing to an improved experience for prospective and existing members.
Meanwhile, Dr. Anurag Agarwal, PhD, President of RiskExec, also expressed the company's dedication to delivering precise and up-to-date analytics to assist SoFi in achieving its CRA objectives. This commitment comes as SoFi joins the ranks of RiskExec users, with the successful integration of RiskExec significantly enhancing its CRA program. Amidst the dynamic and demanding regulatory framework, RiskExec provides banks with essential tools to ready themselves for regulatory assessments. This includes conducting comprehensive trend analysis and evaluating performance, encompassing areas within and outside the designated assessment regions.
About Asurity
Asurity offers compliance-focused solutions to the mortgage, retail banking, and consumer lending. Its flagship SaaS product, RiskExec, combines compliance expertise with advanced reporting and analytics software. This enables lenders to meet regulatory requirements and achieve their business goals effectively. Financial institutions widely use RiskExec for data analysis and compliance in various financial products. The company also provides Propel for compliant mortgage document generation and RegCheck for comprehensive compliance assessments using loan-level data from integrated LOS systems.
About SoFi
SoFi is a member-centric digital financial services platform dedicated to helping individuals achieve financial independence and realize their goals. With over 6.2 million members, the company offers a comprehensive suite of financial products and services, providing fast access to tools for borrowing, saving, spending, investing, and financial protection - all within a single app. Beyond financial services, SoFi supports its members with resources such as career advisors, certified financial planners, exclusive experiences, and a thriving community, guiding them on the path to financial independence.