Quantivate, a recognized leader in SaaS governance, risk, and compliance (GRC) software solutions, in conjunction with Credit Union National Association (CUNA), announced the soft launch of CUNA Compliance Management System (CCMS) for credit unions and leagues.
In October 2018, CUNA announced that it had chosen Quantivate as its technology provider to develop an industry-leading compliance management system for credit unions. CUNA Chief Compliance Officer Jared Ihrig called the collaboration “key to [CUNA’s] investment in the future of the industry.”
Over the past year, Quantivate and CUNA have worked together to build a comprehensive solution that equips credit unions to track federal and state regulatory change, access up-to-date compliance content, and efficiently manage compliance activities in one platform. Beta testing for the CUNA Compliance Management System™ (CCMS) recently concluded with a group of ten credit unions.
“To efficiently cope with regulatory burden, credit unions need the ability to automate their compliance management program and processes, and gain access to the right regulatory content at the right time,” said Andy Vanderhoff, Quantivate’s founder and CEO. “CUNA has led the way in understanding that compliance is part of an overall governance and risk management framework. In anticipation of the largest-ever GRC technology rollout in the credit union industry, we look forward to working with CUNA to help credit unions relieve that regulatory burden and effectively navigate compliance and risk management challenges.”
CUNA Compliance Management System is being released as a member benefit for CUNA and/or League-affiliated credit unions, while CUNA Compliance Management System PLUS™ (CCMS+) is an upgrade available to all credit unions in the U.S. CCMS+ is an enhanced version of the solution featuring policy and document management capabilities, among other advanced functionality. The soft launch for both systems will extend through the end of 2019, with a full national rollout commencing in early 2020.
Quantivate also offers an extended suite of risk management software featuring built-in integration with both CCMS and CCMS+, empowering credit unions to share data and automate management activities across their compliance, risk, and audit functions. The Quantivate GRC Software Suite equips organizations to effectively manage governance and risk programs — including enterprise risk, vendor risk, cybersecurity, business continuity, internal audit, and other areas through a single, integrated platform.