Nebraska-based financial marketing technology firm Social Assurance has added a Community Reinvestment Act (CRA) solution to its suite of tools designed to help financial brands further connect with their communities. The solution, dubbed Community, helps financial brands manage and promote CRA eligible services, donations, investments and loans.
With Community CRA management, Social Assurance is addressing an important customer concern – providing a solution for banks that are tracking their CRA activities through spreadsheets, emails and old-fashioned pen and paper. Community offers a central repository for all bank employees to enter potentially eligible services, donations, investments and loans for compliance eligibility review, approval and reporting.
“CRA has become a critical aspect in banking today and being able to have a straight forward way to manage the many areas of it are key,” said Derek Randecker, First State Bank market president and CIO. “From the time our employees give back to the community, whether they are volunteering or sitting on a board, to the tracking of the organizations we partner with through donations, all areas are priorities that we need to stay on top of.”
Founded in 2011, Social Assurance provides social media content management, monitoring and approval tools to financial institutions. It now has more than 1,500 financial institutions on its platform, providing original solutions in addition to full financial marketing workflow solutions, CRA management and social marketing support services.
“Our brand’s mission is to provide tools that help financial brands scale their communities and market with confidence,” said co-founder Ben Pankonin. “Community is in our client’s DNA and in most cases, they don’t need to do more to be compliant, but quantifying and tracking can be time-intensive. We are excited to see the narrative shifting from compliance burden to a community success story.”
For more information about Social Assurance and the Community CRA management solution, visit www.socialassurance.com.
Founded in 2011 by Ben Pankonin, CEO, and Matt Secoske, CIO, the Social Assurance platform provides the software to help financial brands digitally manage their CRA marketing and compliance processes, content and strategy. The platform provides the tools and resources for financial marketing, compliance, sales and leadership teams to connect with their communities.