Coforge helps a leading lender focus on social media risks compliance
We helps a leading lender focus on social media risks & compliance
Share
The Clienth2
A leading lender in U.S.
Challenge
Challenges faced by the lender
Less Turn Around Time & resources to monitor the Originator’s Social Media Usage.
Rising Cost & Risk of Non Compliance.
Civil penalties for violating consumer protection laws are as high as $1.09 Million per day (UDAAP -CFPB)
Reputation Risk.
Solution
Systematic examination & audit of social media profiles & digital footprint of employees that represent their company on social media platforms. Especially loan officers who are using social media and online marketing to generate client leads.
Audit trail of compliance reviews, Narrative explanations for violations or exceptions
Analysis of the social chatter about the organization from customers while also providing sentiment analysis.
Execution
Performed current state analysis on the perception of data quality and its varied impacts
Mapped sigma thresholds against existing metrics
Defined a framework for assessment, monitoring and reporting based on IQINT standards
Implemented a single version of reporting structure and standards
Value Delivered
Compliance:
Help develop a clear understanding by WHO, WHAT, WHEN, WHY & WHERE Social Media violations transpire
Help establish social media governance
Help Identify unauthorized profiles, Dispose unnecessary profiles
Social media activity:
Monitor & Manage Brand Awareness & Image
Examine the interaction between viewers and posted content