League’s Partnership with Virtual Strongbox Highlighted in CU Times Tech Update

HIGHTSTOWN, N.J. – The Credit Union Times’ recent Tech Update, which highlights “CUs & Debit Payments; Improve Compliance Processes & Costs,” features NJCUL’s partnership with Virtual Strongbox to streamline the League’s compliance team’s processes, adding security and efficiency.

“Financial audits and regulatory exams have become a major expense for credit unions. Auditors and examiners often must be onsite for four or more days, incurring considerable travel expenses that credit unions must reimburse,” the article points out. With Virtual StrongBox’s platform, NJCUL’s compliance team can now perform many activities remotely, reducing days out of the office, decreasing travel time and costs, reducing clients’ reimbursement expenses, and expanding the organization’s ability to handle more clients.

“Compliance isn’t optional for financial institutions, and the cost of regulatory compliance is continuing to grow,” Ron Daly, Virtual StrongBox president/CEO, said. “Progressive organizations like the New Jersey Credit Union League need ways to reduce the cost of compliance for both themselves and their credit union clients. Our patented, end-to-end secure customer engagement platform is perfect for helping them achieve those results.”

“The New Jersey Credit Union League looks forward to leveraging Virtual StrongBox to the benefit of our compliance solutions clients as a safe and secure means to exchange important credit union files, documents, and information with the League’s Compliance Center Team,” Nicola L. Foggie, vice president, compliance and regulatory affairs for the NJCUL, said.

Virtual StrongBox is hosting a free Webinar on Tuesday, September 19th at 10:30 a.m. that will discuss the benefits of innovation in the regulatory and compliance space. Join NJCUL Shared Compliance Manager, Donna Pancoast, and Virtual StrongBox CEO and Founder, Ron Daly, as they discuss what RegTech is, problems that can be solved with innovation, the benefits of acting now and risks of waiting, and how the NJCUL Shared Compliance Team is using Virtual StrongBox to improve and bring efficiency to credit unions’ compliance experience.​ Register here.