Fintech Services – Marketplace Lending & Online Lender Expertise
We can help your institution through the partnership model from the beginning of such relationships, Third-Party Management (TPM), and mapping into your Compliance Management Program (CMP).
Upon engagement, ProBank will:
- Work with your team to develop the Compliance Management Program policies necessary to partner with a federally regulated institution while recognizing your unique business niche
Provide audit and review services to promote and validate effective compliance controls and monitoring for your lending platform
- Meet or exceed your expectations as well as those of your partnering bank with regards to documenting an appropriate Compliance Management Program (CMP), corrective action taken on identified issues, and validation such action is sustained over time
- Establish a cooperative, mutually beneficial relationship
Please click here to obtain an Executive Summary of our approach. This document outlines in detail the phases and provides an overview of our services designed specifically for online lenders.
- Compliance Management Program (CMP) Policies Review – Completed prior to going live
Information Technology and Information Security Policies and Program, Business Continuity Plan, Audit, Vulnerability Testing, and Social Engineering – Work begins prior to going live and continues throughout relationship
- Lending Review (Transactional Testing) for Compliance with Applicable Lending Rules and Regulations – Normally conducted within 60 days of going live; may be accelerated or delayed based on volume
- Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Independent Review – Normally conducted concurrent with transactional testing
- Annual Review – This review combines all the necessary components listed above at the one-year point
- Fair Lending/Non-Discrimination Analysis