Find and correct Profile Compliance Issues
Social media profiles are the digital business cards of today, sharing a Facebook business page to build a book of business with consumers or a LinkedIn profile to build up referral partnerships. Social media profile noncompliance is also the most common violation in the digital portion of regulatory examinations. With ActiveComply, financial institutions can quickly identify missing information from social media profiles and send corrective action as soon as possible – all with clear records of the due diligence process for an examiner.
Flags for Missing Licensing and Custom Requirements
Automated NMLS Data & State-by-state Disclosures
Half the battle is keeping up with licensing changes – which employees has gained a license, lost a license, and what does that mean for their profile disclosures? ActiveComply automatically incorporates data sets from NMLS Consumer Access to ensure the most applicable profile requirements always apply to employee social media. As licensing changes for employees, so too does their state-by-state compliance flags. ActiveComply compliance staff provides insight on state-by-state compliance during the onboarding process and creates custom profile checkup flags based on how financial institutions uniquely satisfy requirements.
Identification of Unauthorized Websites
ActiveComply scans social media profiles for key compliance issues (like missing licensing and disclosure information) and flags social media post content for key word terms that indicate financial product advertising. One key component of ActiveComply social media monitoring is the Websites Collection folder: ActiveComply will flag any websites linked to an employee or company social media page that are not included on an approved list. Through the Websites Collection Folder, users can identify previous employer websites, employee unauthorized side businesses, and unapproved portals for collecting consumer data.