At its core, Redboard is an automated exam and audit management tool for credit unions. But secrets don’t keep well among credit union departments. People outside of audit teams saw how Redboard worked and wanted to try it out.
Now, we’ve heard of several non-audit uses for Redboard at this point. We’re thrilled to see other departments benefiting from our software, and we figured we’d share these uses with you.
The Primary Use
The reason why Redboard is so flexible is that at its core, it’s secure, automated project management platform. It has all the functionality you’d need in any credit union compliance resource.
Basically, it helps with securely sharing, storing, and tracking documents in any project. And while the teams working on exams and audits certainly benefit from it in their work, they know when it can be used for other purposes as well.
You can probably imagine how many uses an automated project management platform can support. Any team that also needs to share, store, edit, track, or otherwise manage documents, deadlines, and workflows can get real value from it.
The Secondary Uses
So, let’s look at a few secondary uses of Redboard’s audit software. We’ve seen credit unions use our platform for some of the following:
- Corporate compliance groups
- Mortgage compliance teams
- Information security projects
- Mergers & acquisitions
The differences between each group, department, and use vary considerably. Yet at their core, they all have similar requirements. Their workflows and processes are remarkably similar.
That’s where Redboard’s ease of use and flexibility come into play. Because the fundamental work strategy is similar among these user groups, they get the same benefits from Redboard as do their credit union compliance teams.
Compliance Resource Revisions
One of the things we want to do with Redboard is ensure that it meets real credit union needs. We’re happy to see other user groups taking advantage of our platform. And, because we solicit product direction recommendations from customers, we’re happy to build in better functionality.
So, to better support multiple user groups on Redboard, we made some changes.
First, we changed our single central storage system to multiple storage systems. This promotes independence between user groups. Audit and examination teams won’t have to sort through information security documents and vice versa.
Second, we allow for group segmentation in our platform. Now, you can separate or segment users into different groups.
These changes essentially give every user group their own mini version of Redboard that they can use simultaneously—all without mixing up files or getting cluttered.
FREE: Audit Checklist for Credit Unions
4 key principles and 9 questions to jumpstart your audit planning. From leading credit unions.Final Thoughts
We knew that Redboard was cost-effective before, but now? Well, we haven’t run the numbers, but we’re looking forward to the early returns on these changes.
Giving credit unions such a flexible compliance resource exceeded our original goal. We look forward to seeing how else we can serve the credit union and compliance communities.
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