ViClarity & Inclusiv Partner to Bring Cutting-Edge Compliance Solution to Community Development Credit Unions

May 10, 2024

This announcement was released by Inclusiv on May 8, 2024. 

Inclusiv, a leader in promoting financial inclusion and economic justice announced today a significant partnership with ViClarity, an award-winning provider of governance, risk, and compliance solutions. This collaboration aims to improve the operational efficiency and regulatory compliance of small and Minority Depository Institution (MDIs) credit unions through advanced RegTech tools.

The partnership introduces three crucial solution modules tailored specifically for credit unions with assets under $100 million or those designated as MDIs. These tools include Complaint Management, Exam/Audit Tracker, and Vendor Management, all designed to streamline compliance processes and reduce administrative burdens, and empowering community-based financial institutions to focus more on their core mission.

Andrea Lally, Vice President of Network Engagement at Inclusiv, emphasized the impact of this partnership, stating, "Our collaboration with ViClarity is a game-changer for small credit unions and MDIs striving to strengthen their compliance frameworks. This initiative is a testament to our commitment to equipping our members with cutting-edge tools that drive sustainability and growth in a rapidly evolving financial landscape."

Ogie Sheehy, ViClarity’s founder and Interim Global CEO, commented, "Working with the Inclusiv team to bring our award-winning technology to small credit unions has been a very rewarding process. The collaboration allowed us to work directly with the credit unions to understand their pain points and then work together to develop solutions that drive efficiencies and compliance rigor. The combined experience of Inclusiv, the participating credit unions and ViClarity is quite powerful and together we’ve created high-value solutions unique to this partnership."

The partnership also offers exclusive benefits for Inclusiv’s membership such as preferred pricing, ongoing regulatory updates, and comprehensive support from the ViClarity team. Members can expect simplified implementation processes, robust training resources, and proactive support to ensure seamless integration and maximum benefit from the platform.

This strategic initiative is announced in conjunction with Inclusiv's annual conference, underscoring the organization's proactive approach in addressing the specific needs of its members through comprehensive support and innovative solutions.

About Inclusiv

Inclusiv helps low- and moderate-income people and communities achieve financial independence. Inclusiv is a certified Community Development Financial Institution (CDFI) Intermediary that provides capital, builds capacity, develops innovative products and services and advocates for the community development credit unions in our network. With more than 500 credit union members holding over $284 billion in community-controlled assets, Inclusiv’s network serves more than 20 million residents of low-income urban, rural and reservation-based communities across the US. Learn more at inclusiv.org.

About ViClarity

ViClarity is an award-winning provider of governance, risk and compliance (GRC) management solutions. A global organization, ViClarity has headquarters in Des Moines, Iowa, and Kerry, Ireland, and provides services for nearly 1,000 clients in a variety of highly regulated industries. The firm’s flagship technology is a centralized platform that supplies GRC professionals with real-time access to business intelligence for faster, data-based decision-making.

Key platform solutions include compliance management, integrated risk management, audit management and vendor management. Many ViClarity clients start with one solution and add on others over time. It’s a unique approach well-suited to the needs of today’s GRC professionals, many of whom are unsure of what to expect when onboarding software and appreciate being able to start small, test and learn and scale as their needs expand.

To learn more contact us or Anna Foote, Senior CU Operations and Compliance Specialist at Inclusiv.