Raleigh, NC, Sept. 30, 2015 (GLOBE NEWSWIRE) -- RegEd, the leading provider of Licensing and Registration technology solutions to the financial services industry, has announced Alerts 2.0, a new module of its Xchange Enterprise Licensing and Registration solution. Alerts 2.0 will significantly expand the range of data for which firms can receive automated change notifications and systematized, timely reconciliation of changes against the firm's individual / agency database.
For many insurers, maintaining accurate, up-to-date individual / agency information has become increasingly complex and challenging. At the same time, the consequences of failing to keep pristine licensing and appointment records continue to grow as regulatory scrutiny of this process intensifies. Employing a manual process for monitoring changes to individual / agency information is inefficient, costly, and can expose firms to non-compliance risk.
Using Alerts 2.0 insurers and distributors can automatically identify changes, and then reconcile and synchronize those changes with the firm's individual / agency database.
Kristy Locklear, SVP and Xchange Product Manager, stated, "Alerts 2.0 enables accurate, up-to-date and highly efficient maintenance of critical information on individuals, agencies or distributors, while helping to close compliance gaps and reduce operational costs." Locklear continued, "This results in a significant reduction of time and resources required to manually check the PDB for relevant changes, and instills confidence that the firm's producer records match the official filing office record."
For carriers, Alerts 2.0 will automatically update license data without the need to rely on individuals or distributors for updates. Distributors will benefit from automatic notifications on appointments. In the event that employees are appointed by carriers that are not approved or do not have sell agreements, Xchange will notify distributors immediately, enabling them to take corrective action.
Locklear concluded, "Alerts 2.0 will yield dramatic increases in efficiency and reduced appointment costs through greatly streamlined management of the producer credentialing lifecycle."
RegEd is a leading provider of compliance technology solutions with relationships with more than 400 enterprise clients, including 80% of the top 25 broker-dealers and top 25 insurance companies. Established in 1994 by former regulators, the company is a recognized industry authority and has created the standard of excellence for rule-based and content-driven compliance automation for insurance companies, investment advisors and broker-dealers. RegEd solutions drive new levels of operational efficiency and enable firms to cost-effectively comply with regulations and mitigate risk. For more information, visit www.reged.com
Eric Clements, RegEd, 412-335-2281