WASHINGTON, Sept. 12,
2023 /PRNewswire/ -- RiskExec, Inc. ("RiskExec") a
subsidiary of Asurity Technologies, LLC ("Asurity"), today,
announced that SoFi – the digital personal finance company –
will rely on RiskExec's software for compliance and reporting
purposes.
RiskExec is a leading SaaS compliance and reporting platform
designed for managing regulatory compliance for banks, mortgage
lenders, credit unions, auto lenders, and digital lenders. The
best-in-class solution quickly geocodes, runs edit checks, and with
clean data, creates analyses to determine lending dispositions,
compares to peers by market, and tracks performance towards
achieving internally defined goals.
Angie Smedley, CRA Officer at
SoFi, commented, "RiskExec's enhanced geocoding functionality,
customization options, and excellent customer support have allowed
us to optimize efficiencies within our consumer loan review
process, enabling us to continue improving the experience for both
prospective and existing members."
SoFi also uses RiskExec's CRA module to track and report on the
bank's small business and Community Development loans.
SoFi is a digital-first personal finance company on a mission to
help people achieve financial independence to realize their
ambitions. SoFi's mission and core values are consistent with the
CRA regulation, and the company is committed to providing a robust
CRA program that's inclusive of lending, investment, and services,
with a focus on meeting the credit needs of the communities within
the Bank's proposed assessment areas, including low- and
moderate-income individuals and neighborhoods.
"We are pleased to have SoFi on our list of RiskExec users, and
to see RiskExec successfully implemented and enhancing their CRA
program. With a stringent, ever evolving regulatory environment,
RiskExec prepares banks for regulatory examinations by analyzing
trends and performance against internal goals, percentages inside
versus outside assessment areas and more," said Dr. Anurag Agarwal, PhD, President, RiskExec. "We
look forward to continuing to provide SoFi with the most accurate,
up to date analytics as possible to meet their CRA goals."
For more information on RiskExec, contact us at info@asurity.com
or (202) 765-2150.
About Asurity and RiskExec
Asurity delivers
compliance-focused solutions to the mortgage, retail banking, and
consumer lending industries. RiskExec is one of Asurity's leading
SaaS-based products, combining the best of compliance expertise
with state-of-the-art software for reporting and analytics to help
lenders meet demanding regulatory requirements and business
objectives. RiskExec is embraced by financial institutions to
analyze their data for compliance or other uses in mortgage, retail
banking, auto lending, student lending, and other forms of credit
and deposit products. Asurity also offers Propel™, a leading
solution for the dynamic preparation of compliant mortgage document
packages, and RegCheck® which provides comprehensive compliance
checks against loan-level data pulled from any integrated LOS. For
additional information about Asurity and its leading software
solutions, please visit asurity.com.
About SoFi
SoFi (NASDAQ: SOFI) is a
member-centric, one-stop shop for digital financial services on a
mission to help people achieve financial independence to realize
their ambitions. The company's full suite of financial products and
services helps its more than 6.2 million SoFi members borrow, save,
spend, invest, and protect their money better by giving them fast
access to the tools they need to get their money right, all in
one app. SoFi also equips members with the resources they need
to get ahead – like career advisors, credentialed financial
planners, exclusive experiences and events, and a thriving
community – on their path to financial independence.
SoFi Technologies innovates across three business segments:
Lending, Financial Services – which includes SoFi Checking and
Savings, SoFi Invest, SoFi Credit Card, SoFi
Protect, and SoFi Insights – and Technology Platform,
which offers the only end-to-end vertically integrated financial
technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a
nationally chartered bank, regulated by the Federal Reserve, OCC,
and FDIC. The company is also the naming rights partner of SoFi
Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.
For more information, visit SoFi.com or download
our iOS and Android apps.
Media Contacts
Asurity Technologies
Era
Williams
Director of Marketing
(214) 257-1763
ewilliams@asurity.com
SoFi
Rachel
Rosenzweig
Senior Director, Communications & Policy
(847) 421-2093
pr@sofi.org
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SOURCE Asurity