Looking for Pilot Partners
We are very pleased to share that LexAlign PBC was chosen to participate in the VC Fintech 2018 Program sponsored by FIS. With FIS we are reaching out to indirect auto lenders.
We are currently looking to partner with lenders for pilot programs. At no cost and minimal effort to the lender, a portion of your auto dealer network will get discounted access to our Information Security automated software audit. Dealers can use that software tool to do the information security risk assessment required by the Federal Safeguards Rule and FTC guidance, and get a customized Action Plan instantaneously.
Lenders will benefit by getting information you need to show that you're doing the due diligence and monitoring regulators require. By getting your dealer network to use LexAlign, you will also help them achieve compliance, and thereby help your consumers and your own institution.
If you're interested, please contact us.
A Unique Solution to an Unmet Need
We build self-help audit-to-action software tools that your small business partners need to get the customized audits, policies, checklists, action plans and notices they need to achieve and demonstrate compliance. This is the same information that lenders and banks need to demonstrate adequate due diligence and ongoing monitoring for compliance with high-risk consumer protection laws.
Our tools build transparency and trust in financial services by enabling
lenders and their small business partners to demonstrate monitoring
and compliance in a standardized way.
LexAlign is the first solution that helps lenders monitor your compliance risk across vast networks of thousands of supply channel partners like auto dealers and independent investment advisors, and vendors like law firms that help you enforce obligations.
The Gap we're addressing
You work with hundreds if not thousands of vendors and supply chain partners, like auto dealers, wealth managers and law firms. Federal regulators expect you to do "in-depth due diligence and ongoing monitoring" of those critical third parties, or face significant fines. With traditional manual audits your third party risk management is exorbitantly costly, haphazard, reactive and incomplete. In other words your risk is uncontained, and your business growth is artificially limited as a result.
How can you work confidently with a vast network of third parties while demonstrating your compliance in a standardized way?
With LexAlign, it's simple. We create automated software tools that enable your third parties to audit themselves with no prior expertise required. Our system analyzes both their information and the reliability of the audit and provides banks with the exact information and documents you need to demonstrate your monitoring. Those products also help your third parties improve their compliance with customized and actionable checklists and programs. Our automated audits can be configured to your bank-specific requirements and priorities. Please contact us to learn more.