Quaint Oak Bank, a Pennsylvania-based community bank, will leverage Cable’s centralized platform to enhance financial crime compliance oversight across its fintech partner portfolio, using Cable’s suite of automated and smart tools to efficiently onboard and continuously monitor its fintech partners on a single platform.
“We are excited to partner with Cable to scale our fintech sponsorship program in a safe and sound manner,” said William Gonzalez, EVP of Quaint Oak Bank. “Our primary responsibility as a partner bank is to ensure that every fintech program complies with applicable banking and consumer protection regulations, with a heightened focus on combating money laundering, identity theft, and other financial crime related activities. Cable’s real-time integrated platform provides us the visibility and unrestricted access necessary to identify and target compliance deficiencies quickly and efficiently. Deploying Cable aligns perfectly with our enterprise-wide initiative to leverage technology for accuracy and scalability. We believe by using Cable we can onboard our partners faster, have significantly greater oversight of their financial crime controls, provide a streamlined experience for our partners, and give us greater assurance about our compliance.”
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Cable gives partner banks such as Quaint Oak Bank and other institutions confidence in their compliance with financial crime requirements, providing a single platform for conducting tech-enabled risk assessments, automated assurance, quality assurance, management information, reporting, and more.
“We are honored to partner with Quaint Oak Bank to help grow its fintech partner program,” said Natasha Vernier, Cable CEO. “Our technology will help them meet regulatory requirements and launch fintech partners faster, while implementing oversight processes that scale seamlessly as its business expands.”
“There is a lot of opportunity now to level up partner bank oversight of fintech partners. We’re excited to build our relationship with Quaint Oak Bank and raise the bar on what’s possible for fintech partner management together.”
SOURCE: PR Web