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Compliance Systems' Simplicity Mobile Solution Achieves 100% Adoption Growth in First QuarterCompliance Systems, the financial industry's leading provider of modern digital and dynamic compliance documentation, announced today that its Simplicity Mobile solution, launched to the market nearly six months ago, is helping financial institutions such as BankSouth, Encore Bank, and Nicolet Bank bring innovation to compliance documentation and extend their mobile reach. Launched in 2021, Simplicity Mobile is increasingly seen as a key to the successful expansion of digital strategy and is reflected in the 100% leap in adoption growth in 2022. As the technology evolution continues, there is a growing recognition that compliance content needs to be designed as part of mobility-first experiences. By leveraging Simplicity Mobile, these financial institutions are able to accelerate their digital transformation by delivering customers a web-like experience on their personal devices. Connecting users to this modern content brings their documentation in line with the consumer experiences offered by Apple and Amazon, as their customers are now able to seamlessly open a bank account from the palm of their hands up to 10 times faster than with traditional compliance solutions. Harry Gunsallus, Chief Innovation Officer of BankSouth, explained, "It's n secret that we are in a digital age with shorter attention spans, and if a process is difficult or cumbersome, we see abandonment rates increase. Simplicity Mobile seamlessly fits right into our digital banking channel, allowing us to mirror our in-branch service, display all disclosures in a single, scrollable document for each account type, and ultimately eliminate any friction our clients may experience when opening accounts through the digital channel. This solution not only exceeded our expectations but was a perfect fit into our digital strategy." This dynamic solution is delivered through the cloud and built to morph compliance content to include the correct regulatory disclosures for any type of account, based on transaction type and the institution's governing law state. When compliance updates are necessary, the technology automatically streamlines document changes, reducing the need to contract legal advisors to maintain compliance. Simplicity Mobile also gives financial institutions flexible control over their product and policy language, which in turn, translates to greater transparency and an improved customer experience. "As financial institutions continue to evolve their digital experience into one that is now expected by tech savvy, mobile users, we want to ensure they don't miss opportunities for mobile enablement in the last mile of the customer journey. With Simplicity Mobile, our clients can minimize the user clicks needed to view and verify content on any device, providing a more intuitive user experience without breaking the flow and excitement of a new deal. We are proud to partner with these institutions and offer support as they strive to bring modern technology and mobility to their compliance documentation," said Todd Moncrief, Director of Sales and Business Development, Compliance Systems. About Compliance Systems Compliance Systems is the financial industry's leading provider of digital and dynamic compliance content. Its technology effectively enables deposit, IRA, and loan transactions with configurable content that supports business flexibility and operational efficiency. With more than 29 years' experience with financial documentation, Compliance Systems supports more than 1,500 banks and credit unions. For more information, please visit www.compliancesystems.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005346/en/ |
