[April 26, 2012]

Terrapin Technologies Releases License Manager

Terrapin (News - Alert) Technologies announces the addition of the License Manager module to its PANDIA suite of data integration tools. License Manager is designed to track, manage and share data on security exams, insurance licenses and carrier appointments for organizations serving banking, insurance and financial services markets. It facilitates importing the data into PANDIA and allows customers to actively manage the data in electronic format, an improvement for many using manual record-keeping and spreadsheets. License Manager is available immediately.

License Manager leverages Terrapin Technologies' long history in successfully aggregating data for financial reporting and is designed to help bank-owned broker dealers proactively manage adherence to license requirements in the states where they conduct business. It will import data from sources such as FINRA's Web EFT and RegEd and facilitate the management of that data, accelerating responses to audit requestsand putting users in a better position to avoid the expense of fines for non-compliance.

"Our experience and feedback from customers led us to develop a way to make license tracking more automated and more timely," commented Kristefor Lysne, President, Terrapin Technologies. "License Manager will help our customers to integrate data into PANDIA from insurance companies and regulatory bodies enabling them to strengthen their compliance efforts, create efficiencies and improve reporting."

The development and administration of programs that ensure financial institutions are in compliance with SEC (News - Alert) licensing requirements is becoming increasingly important in U.S. financial services markets. Compliance is the critical first step in ensuring that best interests of clients are served and also in managing risk. License Manager from Terrapin allows compliance administrators to access a comprehensive view of all license information and to automate checks on a real time basis.

Terrapin Technologies, a privately held company based in Minneapolis, Minnesota, is a leader in the area of bank back office operations and technologies. The company has delivered a fully hosted service for U.S. banks for over 30 years in all areas of financial reporting including accounting, CRM, commissions, compensation, compliance, and sales reporting. Terrapin's flagship product is an integrated collection of tools and processes called PANDIA which leverages Terrapin's 30+ years of successful customer relationships in the financial services industry. For more information, please visit: http://www.terrapintech.com/

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