Provision IAM

How Financial Institutions and Provision IAM Have Been Emboldened by Crisis

Fighting to save community business and accelerate economic relief.

COVID-19 is a health and economic crisis that has rocked the world in ways most of us could have never imagined. Much of our country has slowed to a halt, but countless numbers of critical workers have maintained their posts on the front lines, working tirelessly to manage a seemingly uncontrollable situation. And, while many of those essential employees, such as healthcare workers and lab technicians, are coming face-to-face with COVID-19, as a business owner, I also recognize those who are fighting behind the scenes to keep businesses alive.

Because of funding initiatives like the Paycheck Protection Program (PPP), businesses, such as my own, have been afforded the opportunity to apply for business-sustaining loans through local financial institutions. These banks and credit unions have become the mechanism for distributing federal funding and have answered the call to help small businesses in a big way. They are distributing money like they’ve never distributed money before and, as you can imagine, this is a huge undertaking that has required an “all hands on deck” approach to normal banking operations.

As a result, many bank employees have found themselves in roles that deviate from their normal job responsibilities. For example, in some cases, tellers and managers are being assigned access to electronic signature applications, or they’re being permitted to create new accounts for the PPP funds. Or maybe they’re now managing the portals that allow customers to access these funds. From a compliance standpoint, these IT system permission changes require an immense amount of documentation. The ability to change permissions safely and securely in large volumes is more important now than ever before.

From our experiences in working with smaller financial institutions, at Exclamation Labs, we know that banks desperately need tools to automate, especially in times like these. That’s why we created Provision® IAM, the only identity access management solution built for small and mid-sized financial institutions.

Imagine ...

🔑 Having the ability to assign exceptions and special permissions by employee group or role, with expiration dates.

Set a date in the future to easily and automatically revoke program access.

🔑 Being able to view an entire, complete string of events, while saving time and money on tedious audit prep.

Other identity access management programs only sample data, while Provision IAM automatically documents everything and presents it in a ready-to-view format, giving you peace of mind.

🔑 All of your bank’s systems in one cohesive platform. Provision IAM is the only solution that incorporates them all, including financial APIs.

For one Maryland bank, Provision IAM has become a crucial part of their risk management strategy during this unprecedented time. By implementing our software in 2018, not only were they able to save over 500 hours in audit prep time, and in total, about $300,000, but they were also prepared for the unthinkable challenges posed by COVID-19. By automating their documentation processes ahead of this global pandemic, they have been able to fully commit their time and resources to their valued customers.

We have made it our mission to support community banks and credit unions, especially as they work to support the local community during this trying time. They are truly among the unsung heroes of this global crisis and, for that, we say “thank you!”


- Jonathan Hutcherson, Founder & CEO, Exclamation Labs
Proud makers of Provision

Jonathan Hutcherson
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