Trust, security and compliance

Your Section 1071 compliance solution

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Product Description

Tamarack’s CloudComply™ solution provides third-party data collection, secure storage and firewalling – guaranteeing lenders maintain the ability to make financial and credit decisions independent of the gathered demographic data. Robust and seamless, it can grow with an organization’s needs and ensures regulatory compliance and data management. CloudComply runs on Tamarack’s secure network and integration with an organization’s existing system is accomplished through modern APIs.

Key Features

CloudComply allows you to solicit small business applicants’ demographic information through email and/or SMS messages. It has the capability to allow you to personalize these messages and customize the cadence to match your needs. You can modify or cancel demographic requests. Track your demographic request in real time to determine timely notification of decisions. Optional Tamarack services include Tamarack AI to help with self-assessment, the creation and filing of the required 1071 annual report to the CFPB and the integration of CloudComply’s API with your system.

SaaS Solution

Tamarack CloudComply is a SaaS solution which includes regular product enhancements to maintain compliance with updates of the 1071 requirements. Additionally, it runs on the Tamarack secure SOC 2 Type 2 certified SaaS platform to safeguard the collection and storage of applicants’ demographic data. Using a SaaS model for compliance offers clients more control over data collection, improves transparency and ensures compliance with industry regulations.

Product feature Benefit
Collection of small business demographic information Effortlessly request 1071 demographic data via email and SMS while firewalling demographic information from your credit decision makers
Real-time updates Easily modify or cancel requests
Comprehensive status tracking Gather instant insights into when it is the appropriate time to notify the borrow/applicant of the decision
Flexible data export Generate CSV reports of small business demographic responses and recorded demographic data with filtering capabilities
Off-site data storage Achieve compliance with off-site storage of demographic data on Tamarack’s secure SOC 2 Type 2 system
Compliance of mandated reporting Add optional service to perform required Self-Assessment and Annual Filing

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