Picture an online community where credit unions and banks peacefully coexist. Users from each type of institution can log in and share useful banking-related information, such as written policies and training materials, which other users download and review completely free of charge.
You can stop dreaming because this community exists on cbanc Network, a Web-based collaboration platform for financial institutions launched in January 2009 by several banking industry veterans in Austin, Texas. Think of cbanc Network as a combination of Facebook, Amazon and Craigslist for banking professionals. New users can create a profile and search for content, such as a sample compliance policy or risk assessment.
Users earn points based on their activity level on the site, which they can use to "purchase" content from other financial institutions. The network also includes vendor reviews posted by users, a Q&A forum and reports completed by institutions following their compliance exams, which users find helpful in preparation for their own exams.
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