Posts tagged ‘Compliance’

Compliance and Business Credit

Compliance, what is it, why is it so vitally important to your business, and how does it relate to Business Credit? Merriam-Webster’s dictionary defines compliance as: conformity in fulfilling official requirements. Think about that for a moment. Official Requirements. From time to time as the owner of a small business you have the need to borrow capital. Its uses could be many. For example; additional inventory, new space, newer equipment, computers, a new phone system, internet marketing or just maybe for an out and out emergency. The business could be relatively new or in existence for several years. It has been showing a profit so you feel quite confident in approaching a lender and requesting a business line of credit.

The process couldn’t be easier right? You feel confident and filled with expectation because whatever you needed the capital for can now be taken care of. In some cases you may have your business checking account with this lender and the lender is familiar with your business. A stressful and heavy burden has just been lifted off your shoulders. At last you can look forward to a good night’s sleep. When you finally receive your letter in the mail you open it only to read “We regret to inform you that your request for credit has been denied.” There is usually no explanation other than your business did not meet Business Credit lending criteria. The cold hard truth is that most businesses do not meet anywhere near the number of Compliances that are required. Why, because they do not know what is required. I can tell you this; most businesses are not in Compliance and I discover this quickly when I speak with a business owner on the phone. In point of fact lenders do not have to share what their lending criteria consists of or how they employ compliance formulas when determining what businesses get approved and what businesses do not.

Knowing what those Compliance requirements are and knowing that your business has met those requirements prior to applying for Business Credit is three fourths the battle. You wouldn’t take your SAT’s without having some clue as to what the questions would be right? Yet on a daily basis business owners do just that. They do not have a clue to the degree of information requested, collected, and verified about their business nor how it’s used for the sole purpose of making credit decisions about their business and because they do not know they put their business in total jeopardy. So if your business were to go through a Compliance Check today would it pass or would it become just another statistic like so many others in 2008, where approximately 1.15m small business were forced to close their doors forever because they could not obtain the capital they so desperately needed? Put the future of your business in the hands of a Business Credit specialist who is familiar with “Official Requirements” Compliances and knows precisely how to make sure your business passes Compliance in flying colors so you can obtain the kind of Business Credit your business needs to flourish.

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Morf Media, Inc., Banner Bank and the Oregon Association of Realtors Host TRID Compliance Training in Eugene


Eugene, OR (PRWEB) April 28, 2015

Morf Media Inc., leader in enterprise compliance training for the mobile workforce, Banner Bank and the Oregon Association of Realtors have teamed up to sponsor TILA-RESPA (TRID) training in Eugene. The training helps mortgage lenders and real estate agents prepare for new processes, deadlines and archiving rules associated with the upcoming integrated disclosure rule to take effect on August 1, 2015. Register for the sessions here.

“Don’t wait for the August 1 deadline to learn how to train and educate your real estate industry partners on TRID,” said Ginger Bell, education specialist and SVP Learning at Morf Media, Inc. “We are showing mortgage originators and their real-estate partners how they can turn compliance training into expertise that benefits their business and helps everyone in the industry manage through change in a more effective way.”

TRID consolidates four existing disclosures for closed-end credit transactions secured by real property. The forms being replaced by TRID are:

    Good Faith Estimate (GFE)
    Initial Truth-in-Lending Disclosure
    HUD-1 Settlement Statement
    Final Truth-in-Lending Disclosure

In their place, TRID mandates the use of two disclosures: a three-page loan estimate and a five-page closing disclosure. The free Train-the-Trainer events will provide a step-by-step approach to help trainers and company managers know about the mandated changes while ensuring their loan origination software is up-to-date.

For industry professionals who cannot attend the event, training is available in its entirety online via Morf Learning, award-winning enterprise training platform for mobiles. Morf Learning is optimized to make enterprise compliance training effective for professionals on the go. It includes a library of certified course content that is delivered in an innovative way to delight and engage employees, partners and administrators with its playbooks for compliance success. It offers powerful analytics engines that show an individual’s progress, strengths and areas needed for improvement, proof of examination for audits and more.

For more information about piloting Morf Learning, please visit http://www.morfmedia.com. Morf Media invites industry training experts to contact us to learn more about the benefits of delivering enterprise training with Morf Learning/

About Morf Media, Inc.

Morf Media, Inc., developer of Morf Learning,™ mobile platform as a service, simplifies enterprise compliance training for companies and the mobile workforce in highly regulated industries. Founded in 2013 by a seasoned management team with expertise in developing start ups, Morf Learning is in pilot with more than 100 companies and content expert partners in the financial services and life sciences industries. Morf Learning streamlines the processes for authoring and deploying certified compliance content, enhances the user experience with Morf Playbooks–three minute courses with gamification and smart analytics and offers centralized reporting for managing governance, regulatory and compliance training on a sustained basis.

For more information about Morf Media, please visit: http://www.morfmedia.com.

For crowdfunding information about Morf Media, please visit Angel List, Gust or Equitynet.

Contact:

Heidi Wieland

Vice President Marketing of Morf Media, Inc. USA

805-722-7413

Heidi(at)morfmedia(dot)com







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E-Complish Launches Infographic for PCI Compliance Standards


BALTIMORE, MD (PRWEB) March 30, 2015

E-Complish, a leading payment solutions provider, has launched a new infographic, entitled What Is PCI Compliance, as an educational tool for companies and consumers to learn the importance of PCI Compliance. The infographic aims to simplify the often intricate standards and best practices that comprise consumer data security into easily digestible content for businesses.

E-Complish’s infographic highlights the cost of data breaches, levels of compliance to which a company belongs, and, a key point for consumers, what threats a consumer’s data is vulnerable to when dealing with a non-compliant company.

“E-Complish was one of the first Level 1 Payment Processing companies in the world to achieve compliance under the new PCI Compliance version 3.0 standards, so we felt that it was natural to take the next step and help merchants understand the importance of meeting those standards,” said Stephen Price, CEO of E-Complish. “Our infographic provides companies with a basic – but key – education on consumer data security, what it means to be PCI Compliant, and what comprises the 12 Standards of security.”

PCI Compliance includes 12 Standards which protect credit card holders from fraud and data theft covering Network Security, Cardholder Data Protection, Vulnerability Management Programs, Strong Access Control Measures, Monitoring and Testing Networks and Information Security Policy. These standards are not fully understood or met by many companies, and as a result consumer data is at risk from data breaches carried out by average computer users to targeted attacks.

Companies have faced bank fines, penalties and lawsuits due to data breaches, with a majority (95%) of companies only meeting 3 of the 12 PCI standards in 2013. Compliance levels increase as a business processes more transactions, requiring them to ensure further consumer data security. Credit card fraud cost $ 11.27 billion worldwide in 2012, with 47% of fraud occurring in the United States. E-Complish seeks to educate the public and companies to make data security a priority as debit and credit card usage is seen as a safe alternative to carrying cash.

To view the infographic visit http://www.e-complish.com/blog/what-is-pci-compliance/

To learn more about E-Complish and PCI Compliance, visit http://www.e-complish.com/blog/e-complish-announces-pci-3-0-compliance-making-it-one-of-the-first-level-one-payment-processing-companies-in-the-world-to-achieve-this-level-of-certification/

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E-Complish, LLC: Since 1998, E-Complish has helped businesses increase profit and communicate more efficiently with customers through its unique financial services, quickly becoming one of the nation’s most reliable and secure payment partners. For more information about E-Complish, please call (410) 779-4330 or visit http://www.e-complish.com.







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PerformLine Named Ideal Compliance Company for Fourth Consecutive Year

Morristown, NJ (PRWEB) February 09, 2015

PerformLine, provider of the leading cloud-based advertising compliance platform for mitigating risk and making sure brand safety, launched these days that it won accurate documentation 5 LeadsCouncil 2015 CHIEF Awards for the effect into the knowledge, home loan, and insurance groups.

Thought to be an ideal Compliance business when it comes to 4th consecutive year by industry peers, clients and partners, PerformLine in addition garnered a Most Valuable tech award for a 3rd right 12 months. The five 2015 COMMANDER prizes the company ended up being recognized for are: Gold for Best Compliance business in Mortgage; Gold for ideal Compliance business in knowledge; Gold for the majority of Innovative Company in Insurance; Gold for some Valuable Technology in knowledge; Bronze for some revolutionary Company in Mortgage.

“We’re humbled and motived by these awards for our team’s work and innovation when you look at the compliance space,” stated Alex Baydin, creator and CEO of PerformLine. “Being respected four years in a row validates that individuals are surpassing clients’ objectives to guard their brands and mitigate their conformity risk.”

PerformLine works with a few of the leading companies in mortgage, insurance coverage, debt services, charge cards and training, providing them with more extensive advertising supervision answer available. The PerformMatch platform has identified and reviewed over 25 billion conformity findings up to now, empowering marketers using business intelligence they have to mitigate danger while improving speed-to-market, accelerating sales, driving efficiencies, and calculating success.

“Being recognized with 5 LEADER Awards reveals the importance of the work that PerformLine is doing in the market,” claimed Michael Ferree, Director, LeadsCouncil. “PerformLine is a stellar illustration of a technology that encourages best practices and fosters trust – the principles our community had been established on. We congratulate all of them on earning these coveted honors.”

PerformLine’s cloud-based platform, PerformMatch, automatically discovers, paths, and escalates marketing conformity problems. Tracking regulatory, brand name and TCPA compliance both online and in contact facilities, the working platform additionally provides real time analytics and workflow resources. Leading marketers use the PerformMatch platform to make sure that their particular direct advertising, affiliate marketer advertising and contact center task is certified, which lessens threat and increases brand name security.

Those contemplating discovering more about PerformLine and business’s PerformMatch™ SaaS conformity system should go to the business’s internet site at http://www.performline.com.

About PerformLine

PerformLine may be the industry’s leading marketing compliance company, bringing SaaS automation and scale to businesses looking to mitigate risk and ensure brand name security. PerformLine empowers marketers with comprehensive advertising and marketing oversight option for several networks within just one system — PerformMatch™. The PerformMatch system immediately monitors contact facilities and also the web to make sure complete regulating, brand and TCPA conformity for marketer, including give automated broker conformity and performance monitoring inside their contact facilities. PerformLine saves clients cash by automating conformity tasks across stations and departments, producing significant cost-savings. For more information about PerformLine, Inc. while the PerformMatch compliance system, check out performline.com, e-mail sales(at)performline(dot)com or follow us on twitter @PerformLine.

About LeadsCouncil

The LeadsCouncil is an unbiased relationship, whoever people are organizations in web to generate leads room from purchasers to sellers, technology solution providers and investment specialists. All people are united in a standard aim of promoting guidelines and fostering trust regardless of straight. LeadsCouncil was created because of the industry experts and evangelists whose continuous mission both through LeadsCon and LeadsCouncil is raise the size of the market and quantity of organizations who leverage lead generation on the web.







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