How Stride Bank uses PerformLine to reduce document review time by 90%
About the Client
Stride Bank is an Oklahoma-based financial institution that holds over $3.3 billion in assets.
Stride not only provides a full suite of traditional financial services (including consumer and commercial banking, mortgages, wealth management, and treasury management), but also is committed to developing new and highly-specialized payment solutions. This balance is part of why it has maintained a community banking feel while also being a go-to processor for several national fintech companies.
Business Challenges
Operating in many different spaces means that Stride needs a comprehensive compliance solution that is both automated and adaptable, whether documents are created by an internal team or by fintech partners. With dozens of assets created each month, spending multiple days in review for each one was inefficient and untenable. In addition, manually monitoring web content meant that it would take longer for Stride to uncover issues, let alone remediate them.
PerformLine Solutions
- Document Review to automatically review all outgoing content from Stride’s affiliates to ensure that those documents adhere with regulatory requirements and brand guidelines.
- Web Monitoring to automate the monitoring of existing content and to discover mentions of their brand by fintech partners for compliance across the web.
- Business Intelligence to allow Stride to identify their most (and least) compliant fintech partners to make proactive, data-driven decisions about which marketing efforts are most effective.
Results at a Glance
90%
reduction in document review time
800
web assets constantly reviewed
100s
of documents automatically scored and reviewed
Stride has to remain compliant across a wide range of financial services, all of which present their own challenges. PerformLine allows us be proactive about compliance with our fintech partners, without the heavy lift of analyzing each piece of marketing individually.”
The Results
A Streamlined Document Review Process
Before PerformLine, reviewing marketing documents was a manual, tedious process. Now, the same document that used to take multiple days of review and conversation can be reviewed, scored, and sent back to the partner as approved or with noted issues almost immediately, thanks to Stride’s implementation of PerformLine’s Document Review.
A Fully Compliant Web Presence
Whether it’s communication from Stride itself or one of its fintech partners, the organization can feel confident that they're finding unknown compliance risk. Using PerformLine allows Stride to automatically and constantly monitor nearly 800 different web pages, and get notifications where they need to remediate potential issues.
A Trusted Voice in the Community
Stride has gone to great lengths to establish itself as a pillar of the Oklahoma financial community. Ensuring that all of its marketing materials are accurate, compliant, and non-deceptive is just one of the ways the organization rewards the high level of trust its community has placed in it. PerformLine helps guarantee that reputation-harming compliance issues don’t pop up.