The partnership enhances the breadth and scope of ACES' compliance library to ensure users audit to the most accurate regulatory standards and requirements
DENVER, Colo. /CitizenWire/ -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced it has partnered with Winnow Solutions to power certain compliance and regulatory operations within ACES through its RegTech platform Winnow®. An innovative and dynamic financial law database built by attorneys and powered by cutting-edge technology, Winnow takes the guesswork out of compliance by instantaneously identifying regulatory requirements applicable to specific institution types and products. The addition of Winnow's comprehensive database helps ensure ACES continues to provide its users with the most accurate and up-to-date information on state regulations.
"Maintaining compliance with all applicable rules and regulations is one of the most critical outcomes of lenders' quality control processes. However, managing the sheer volume of regulatory requirements from both the state and federal level can overwhelm even the most seasoned, well-staffed compliance team, which ultimately puts loan quality in jeopardy and exposes organizations to unnecessary risk," said ACES President and Chief Operating Officer Phillip McCall. "Because it was incubated inside of one of the industry's preeminent legal advisory firms, Winnow serves as a powerful resource for tracking compliance changes at all levels, and we are thrilled to leverage the extensive Winnow regulatory database to enhance the compliance support ACES delivers to our clients."
Winnow covers state laws and regulations specific to the full lifecycle of mortgage, auto, credit card, consumer and commercial-purpose lending and financing. The platform also includes generally applicable requirements that impact the lending and servicing of these products, including such topics as marketing and advertising, debt collection, telemarketing, notary requirements, electronic signatures and documents, powers of attorney and privacy/data security. With Winnow, subscribers can instantaneously and intuitively create a survey of laws based on any of these topics, export the results to their chosen file format, and save them to receive tailored updates of law changes.
"Operating or scaling a financial services company is highly difficult, even under the best of circumstances. Add on the constant change of regulatory requirements, and it becomes even more daunting. That's why a trusted partner like ACES is crucial for speeding up the audit and approval process," said Chris Hilliard, Chief Operating Officer and a Founder of Winnow Solutions, LLC. "We're delighted that ACES has chosen Winnow to power its compliance research, allowing it to deliver even more value to its customers. ACES has an excellent reputation as an industry leader in the QC space, and we deeply appreciate the trust it has placed in us."
About Winnow Solutions
Winnow Solutions, LLC is the developer of Winnow ®, a database-driven, RegTech platform that provides subscribers with accurate topic-driven surveys and automated compliance change management. Winnow catalogues over 45,000 individual state law requirements maintained by an experienced team of specialized attorneys and professionals. Winnow subscribers build highly tailored state law compliance surveys unique to their business type, licensing, financial products and jurisdictions, with federal law surveys coming soon. Winnow Solutions, LLC is a subsidiary of Buckley LLP, a law firm that focuses on financial services, government enforcement, and litigation, and that has been recognized as "The best at what they do in the country" by Chambers USA. For more information, visit https://www.winnow.law or call 1-888-488-6797.
About ACES Quality Management
ACES Quality Management, formerly known as ACES Risk Management (ARMCO), is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control Software® to improve audit throughput and quality while controlling costs, including:
* 3 of the top 5 and more than 50% of the top 50 independent mortgage lenders;
* 7 of the top 10 loan servicers;
* 11 of the top 30 banks; and
* 1 of the top 3 credit unions in the USA.
Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment.
For more information, visit http://www.acesquality.com/ or call 1-800-858-1598.
Learn More: https://www.acesquality.com/
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