Online Lender Compliance

Designed to Support Traditional and Alternative Lenders

  • Creative compliance solutions to accommodate fast growth while effectively managing regulatory risk
  • Successful fintech startup veterans
  • Technology neutral
  • Fluid manpower resources adapt to accommodate your operational model
  • Pay-as-you-grow pricing structure leverages short-term and long-term compensation incentives

Deep Expertise with Leading Lenders

Over the past decade InnReg has launched and consulted with leading innovators in the lending space.

We work with online lenders in three key areas. First, we help determine the best regulatory structure based on your business model, technology and user acquisition strategy. And then we take the lead in articulating the compliance strategy to the regulators. Second, we develop and manage your compliance and operational workflows to efficiently process high volumes in user onboarding and transactions processing. And third, we take ownership of your compliance and back office operations on a fully outsourced basis, allowing you to focus on developing your product and acquiring new users.

Our diverse experience makes us highly adaptable to many types of alternative lenders. We can recommend the best technology stack to solve all your compliance and technology needs, both effectively and cost efficiently. The final recommendation often integrates proven third-party solutions into your proprietary technology to achieve the optimal result. All of our systems and databases are cloud-based, so your team has easy access day or night from onsite or remote locations.

Lender Compliance Services

Outsourced compliance:

  • Executive level: Chief Compliance Officer (CCO)
  • Manager level: staff to support in-house CCO
  • Fully Managed: complete team provides compliance department in-a-box

Suspicious activity compliance:

  • PSAR and SAR management and filing
  • Bank Secrecy Act
  • AML (anti-money laundering)
  • Fraud prevention
  • Identity theft, including Red Flag programs

Marketing, advertising and content compliance:

  • Marketing plan review resolves any compliance issues prior to execution
  • Content review for all online and offline messages, including social media and presentation materials

Staffing compliance:

  • Employee onboarding, including background checks
  • Training programs

New client onboarding and application approval:

  • Client identification (CIP/KYC/CDD/AML checks)
  • Exception management and additional due diligence on CIP kick-outs

Account funding and funds transfer supervision:

  • Funding source verifications
  • Withdrawal request processing

CFFB and state regulators facilitator:

  • Exams and audits
  • Manage information requests
  • Process licensing and filings

Consumer lending compliance and complaints:

  • Monitor consumer complaints from initial contact to case closing
  • Take the lead on CFPB compliance contact and response

Risk assessment and quality control review:

  • Monitoring the status of pending and enacted lending legislation at both federal and state levels
  • Assessing the impact of pending or newly enacted lending legislation on our client’s business
  • Implementing legislative requirements across operations, systems and support departments
  • Monitoring changes to Fair Lending, CFPB, ECOA, Patriot Act, BSA and other regulatory bodies

Information security procedures:

  • Processes and safeguards
  • Best practices based on regulatory feedback

Vendor compliance:

  • Due diligence
  • Performance monitoring

Electronic books and records management:

  • Cloud-based document creation and management
  • Templates and methods based on best practices

Case Studies

Online Lender Alternative Lender
Update operational systems to ensure compliance with regulated partner’s requirements Launch new alternative lender with strong foundation and no regulatory issues

Compliance Regulations Insights for Lenders

Reach out today for a Complimentary Consultation.

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