Outsourced Bankers Compliance Consulting

LendingTree
City National Bank of Florida
BCI

LendingTree, Charlotte, NC

Objective: Update operational systems to ensure compliance with regulated partner’s requirements

Background/Opportunity

LendingTree is the leading online lender exchange in the US with 30 million processed requests and $214 billion closed transactions since their launch in 1998. As one of the most visited websites on the Internet they are highly visible, making them vulnerable to competitive pressure as well as regulatory scrutiny. Their lender network has 300+ members, including large lending institutions, regional lenders and an increasing number of emerging alternative players. LendingTree was entering into a new partnership with one of the largest banks in the US. This move could substantially increase prospect referrals and earned income, but this bank was requiring an especially onerous vendor due diligence process.

Challenge/s

How to upgrade certain aspects of the company’s compliance program to fulfill the stringent requirements of a bank partner.

Solution

Conducted compliance assessment.
Reviewed and rewrote client’s information security policies and procedures to identify and address any gaps.
Updated processes to close all procedural gaps and codified system.

Results

Successfully completed vendor due diligence and contract negotiations with new partner.
LendingTree’s enhanced compliance and operations foundation supports ongoing growth as they process more customer requests, increase their network of lending partners, and expand into new lines of business like student loans, debt consolidation and credit counseling.

Testimonial

“As LendingTree was negotiating a strategic relationship with one of the largest US financial institutions, Francesco stepped in and got us through a major hurdle in the due diligence process. We could have not done it without him.”

Gabriel Dalporto – CFO at LendingTree

City National Bank of Florida, Miami, FL

Objective: Develop a business plan for a new wealth and investment management service

Background/Opportunity

City National Bank is a strong and established bank in South Florida. Founded in 1946 it became the 5th largest financial institution in Florida, and one of the top 50 most profitable banks in the US. The marketplace in South Florida was changing as more international and high net worth prospects moved to the region in order to enjoy the sunny weather and favorable business climate. City National wanted to tap into this new target audience by offering a wealth management advisory service.

Challenge

Assessing the market potential for the wealth management business and designing the optimal operational structure to launch it.

Solution

Developed a launch strategy leveraging the strong foundation built on history and longevity coupled with forward thinking innovation.

Results

City National Bank has been acquired by BCI (the parent company of BCI Securities). The new management team is in the process of leveraging the InnReg business plan as a foundation for the launch strategy for their new wealth management and investment services program.

BCI Securities, Miami, FL

Objective: Launch a US-based brokerage arm for an established BD in South America

Background/Opportunity

Corporacion BCI is one of the largest retail financial institutions in Chile, currently managing more than $35 billion in assets. They identified South Florida as a geographic market with strong potential due to the large number of South Americans migrating to the region, the high concentration of high net worth individuals, and the favorable business climate.

Challenge/s

How to launch a new broker-dealer in a foreign country’s complex regulatory environment.

Solution

Advised on operational and compliance stack to optimize business model in the US.

Results

Successfully launched BCI Securities in Miami as a FINRA-registered subsidiary of BCI.
They continue to meet business projections for opening and managing of institutional accounts and high net worth individual accounts for clients across the US and Latin America.

Growth Case Studies

Reach out today for a Complimentary Consultation.

About InnReg

Contact

Recent Posts

Connect With Us