PR Newswire
WASHINGTON, Sept. 12, 2023
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 [email protected] 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 visitasurity.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
[email protected]
SoFi
Rachel Rosenzweig
Senior Director, Communications & Policy
(847) 421-2093
[email protected]
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SOURCE Asurity
