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American Student Assistance Selects
Compliance 360 for Compliance and Risk Management
Atlanta, GA—November 16, 2007— Compliance 360, Inc.,
a provider of governance, risk, and compliance (GRC) management software,
today announced that American Student Assistance® (ASA) has selected
the Compliance 360 solution to automate their regulatory compliance,
policy, and contract management.
ASA, which administers the Federal Family Education Loan Program
on behalf of the U.S. Department of Education, had been looking for
a solution to centralize all of their compliance activities and documentation
as well as an application that could be tailored to fit to their
industry-specific requirements and regulations. Specifically, they
wanted a more effective way to track compliance with Higher Education
Act (HEA) legislation, as well as many state regulations and non-HEA
federal laws.
ASA plans to utilize the Compliance 360 solution to manage its corporate
compliance program, access regulatory content, and automate process
workflow. This strategic move assists in the organization’s
initiative to reduce manual processes, improve agility, and provide
greater visibility to its overall compliance status.
Through the Compliance 360 solution, ASA will be able to manage
regulatory issues, such as the FFELP program and Fair Credit Reporting
Act, and have a real-time view into the evidence of compliance throughout
their enterprise. All regulations and evidence of compliance are
linked and stored in a centralized database, automating the tracking
and management of compliance and providing on-demand reporting and
compliance visibility. Compliance 360 solutions also offer the added
value of increasing productivity and efficiency, reducing redundancy,
and minimizing risk.
“We selected Compliance 360 because of their experience and
success in the loan origination and servicing market,” says
Christopher Sheehan, ASA’s Assistant General Counsel. “Based
on the reputation of the product and the company, we knew Compliance
360 would be a solid match for our requirements and a technology
partner we could depend on as our business grows.”
"The student loan market is highly regulated and ASA is a leader
within this industry,” says Steve McGraw, Compliance 360 Chief
Executive Officer. “We are very pleased to be selected by ASA
and assist them as they continue to help students successfully manage
their education debt.”
About American Student Assistance
American Student Assistance® (ASA) helps college students and
their parents to manage higher education debt successfully. ASA’s
unique Wellness programs give borrowers the support they need to
avoid default. Incorporated in 1956, ASA was the nation's first student
loan guarantee agency and a model for the federal student loan guarantee
program. The company ensures that the public policy purposes and
regulatory requirements of the Federal Family Education Loan Program
(FFELP) are met. ASA delivers quality FFELP default prevention, guarantee,
origination, and fund delivery services to students, parents, schools,
and lenders nationwide. ASA guarantees more than $2 billion in student
loans annually and currently manages a student loan portfolio worth
more than $41 billion. Based in Boston, ASA employs more than 650
associates nationwide. Visit www.amsa.com or call 800.999.9080 for
more information.
About Compliance 360, Inc.
Compliance 360 helps companies in regulated industries address the
most important facets of a comprehensive governance, risk and compliance
management program. The results are reducing risks, improving efficiencies
and protecting a company’s brand. The Compliance 360 on-demand
software suite includes products that address IT governance, policies
and procedures management, incident management, surveys, Sarbanes
Oxley compliance and enterprise risk management. Compliance 360
has headquarters in Atlanta, GA and assists over 70,000 users everyday
in a variety of highly regulated complex business environments.
For more information, visit Compliance 360 at www.compliance360.com.
Media Contact:
Kathryn Towns
Corporate PR
Tel: (678)-992-0262
media@compliance360.com |
