Dividend Finance, a top-five lender to U.S. residential solar and home energy markets, today announced the public launch of RegLynk, its proprietarily- developed Governance, Risk and Compliance (GRC) platform software solution which will now be made available to third-party customers . RegLynk solves the pain points experienced by so many regulated companies in effectively managing and navigating a complex meshwork of policies, processes, regulations, licenses, and contracts relating to their businesses.
Dividend, which was founded in 2013 as the first residential solar lending platform, has always operated with both innovation and regulatory compliance top-of-mind, and the launch of its RegLynk platform offering to third-parties marks the culmination of several years of platform development inspired by these two themes.
Originally conceived as a Compliance Management System (CMS) by Dividend Finance compliance officers for supporting Dividend’s own business needs as a regulated lender, RegLynk has evolved into a first-of-its-kind modularized GRC solution suite that enables any business across any industry to seamlessly manage governance, risk, and compliance functions in an integrated platform experience.
RegLynk addresses the pervasive lack of oversight that exists with business processes in many sectors, and the risks associated with those processes. Process flows and spreadsheets are traditionally siloed, but RegLynk brings these two elements together into an active, living and automated Risk Control Matrix. This comprehensive, integrated methodology minimizes oversight gaps and risk. In addition to financial services customers, RegLynk applies to installers, including Dividend Finance’s extensive contractor network. It provides significant value to these professionals, including vendor management, licensing management, complaint management and a variety of other critical issues.
“We have always taken great pride in our compliance first culture at Dividend,” said Dave Sterlitz, General Counsel and Chief Compliance Officer, Dividend Finance. “Over the years and through countless hours we have developed and refined a Governance, Risk and Compliance solution that not only serves Dividend well, but has also captured the admiration of our bank and depository partners and investors. The market is anticipated to grow to roughly $55 billion by 2025 with a CAGR of nearly 53 percent over that period, and with a change in the regulatory environment we see an opportunity to take our best-in-class GRC to a market that is in great demand and growing.”
“RegLynk is a powerful asset for any organization, and Dividend has demonstrated in its own use-case that RegLynk can be effectively utilized to complement business operational goals,” said Eric White, CEO, Dividend Finance. “Compliance has always been an essential part of our daily lives at Dividend and now we are transforming the GRC landscape by removing the perception of compliance being an intrusive obligation, to instead being a mission critical management capability and business enabler.
RegLynk connects regulatory policies and procedures, and Risk/Control Matrix, to a company’s unique business operations. The solution’s configurable compliance testing tool allows users to establish a fully-integrated testing oversight program that ingests business data – providing real-time insight into compliance performance.
RegLynk also includes a Learning Management System that allows users to tailor training and lessons specific to operational functions, providing relevant compliance training to ensure that staff are educated and kept informed of regulatory requirements. The solution’s Vendor Management System (VMS) includes an efficient and automated vendor onboarding, diligence, risk assessment, contract management and oversight process, fully integrated and connected to RegLynk’s Business Continuity and Information Security modules, enabling comprehensive oversight of vendor risk and business resiliency.
“Compliance management is of the utmost importance to Advanced Financial Company and when we considered compliance management solutions, we wanted a comprehensive tool that could be tailored to our business to ensure our operations were in compliance at all levels of governance, local, state and federal,” said Kyle Kolsky, AFC’s Chief Operations Officer. “RegLynk was the only compliance software we found that could do so. Many of the other tools monitored the compliance department’s activities, not the actual compliance of our operation. Having the ability to create operational flow charts and testing to ensure we’re within our compliance programs is an incredibly powerful oversight tool. We’re thrilled to have the RegLynk GRC as our source of compliance management.”
Critical RegLynk features include:
- Automated Compliance Management, whereby regulation changes automatically initiate tasks to update relevant business processes, policies, procedures, KRI’s and internal training
- Regulatory Intelligence, providing an integrated Lexology news feed for daily insights to the changing regulatory landscape
- State Compliance Management, monitoring state specific regulations, managing exams, document versions and complaints for comprehensive compliance coverage at the state level
- Complaint Management, tying complaints directly to business processes, allowing management to see which processes contain the most risk to reputation and regulatory oversight