From Auto Dealers and Financial Advisors to large Financial Institutions
LexAlign is designed to help any company engaged in retail financial services meet and demonstrate compliance with high-risk laws, including Privacy, Data Protection and certain other Fair Lending laws. That includes retailers like auto dealers and furniture sellers that help consumers obtain financing for their purchases. It also includes any business that gives individuals or families financial advice or services as a regular part of its business. It also includes the banks and other financial institutions they work with.
Auto Dealers and other Retailers
Whether you provide financing yourself or help consumers get financing from lenders, you can benefit from LexAlign. You may use vendors to help with aspects of your compliance, but you still need to show that :
- You know the specific requirements that apply to you,
- You've implemented appropriate policies, that you've trained your staff,
- You've made sure your vendors are compliant with the rules that apply to your business, and
- You've tested your compliance and made corrections.
LexAlign was designed by attorneys and experts to help you audit your business and get those tailored documents in a way that's simpler and more affordable than any alternative.
Financial Advisors and Service Providers
Consumer protection laws can be particularly risky for small businesses that provide financial advisory services to individuals and families. That includes financial planners and wealth managers, as well as tax preparers and credit counselors.
If you're licensed, chances are that you'll be audited regularly by a state authority. You also need to show your bank or financial institution partner that you understand the law and have the required documents tailored to your specific business activities. LexAlign was designed by attorneys and experts to help you audit your business and get those tailored documents in a way that's simple and affordable. No prior knowledge of law required. Simply sign up.
Indirect Lenders, Custodial Banks and other Financial Institutions
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 apps 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. They also help your third parties improve their compliance. Our apps can be configured to include your bank-specific requirements and priorities. Please contact us to learn more.