Strohl Systems was acquired by SunGard in 2008: now the Strohl name is back as FI Compliance Solutions changes its name to Strohl Risk Solutions.
The company, led by former Strohl Systems’ President Eric Strohl, says that it has made the name change in order to align with its core business strategy and vision for the future.
"When we opened our doors in 2009, our initial focus was to help financial institutions comply with the FFIEC and NCUA's safety and soundness standards," says Eric Strohl, President & CEO of FI Compliance Solutions. "The fact that we initially planned to work solely with financial institutions focusing on compliance led to the use of FI Compliance Solutions as our legal name."
The company's first product to market, GRC Pro, was well received. However, customer feedback and the changing regulatory environment necessitated that changes be made. The combination of both factors led to a redesign of its core offering and rebranding in late 2011 to a new platform – ERM 365. The goal of the new platform was to help institutions assess, monitor, and control risk through interactive dashboards, email alerts, and notifications. The change was met with success, resulting in the addition of 150 new customers and 600 users. The ERM 365 product line has since expanded to include risk solutions for Vendor Management, ALLL/Troubled Loans, Findings Manager, and Compliance.
ERM 365's platform has enabled the company to scale faster and serve more customers by offering a combination of software that is easy-to-use and service from dedicated experts.
According to Eric Strohl, "The decision to incorporate the Strohl name is a nod to our 30 plus years of experience providing business continuity planning services to banks and credit unions. The name change also serves our long term strategy for entering new markets and bringing new risk solutions online. Strohl Risk Solutions will continue FI Compliance Solutions’ mission by providing industry leading risk management solutions helping organizations reduce risk and lower the cost of regulatory compliance."
The company's new website www.strohlrisksolutions.com is currently under development and will debut during the second quarter of 2014.
For more information, visit www.erm365.com