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Top PerformLine Competitors For Financial Services Marketing Compliance

  • Last Updated: March 12, 2024

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If you’re in a marketing or compliance team at a fintech or bank and researching PerformLine competitors, you may be facing these challenges:

  • You need a tool to support your compliance monitoring, but may have lean budgets to put toward compliance tools.
  • You’ve considered using PerformLine but realize it offers many more features than you need and are looking for a tool that helps with your specific use case.
  • You may be currently using PerformLine and want to explore alternative solutions with different capabilities.
  • You’re looking for a tool that will complement and improve your current compliance processes.

PerformLine is a robust solution for all kinds of compliance requirements. But there are newer products coming to market that can also address the more specific needs of the financial services industry. This is why you may want to explore alternatives that cater to the financial services space with industry specific solutions that can do the heavy lifting of compliance monitoring for you without needing you to adjust your way of working.

In this article, we’ll be focusing specifically on the best alternatives for PerformLine if you work in financial services. We’ll cover:

  1. What to know about using PerformLine for financial services marketing compliance
  2. Top alternatives to PerformLine for financial services companies
  3. Fintel Connect
  4. Brand Verity
  5. Red Marker
  6. Tennis Finance

Looking for a PerformLine competitor to help monitor your financial services marketing or partners’ marketing content? Discover how Fintel Check can help you.

What to know about using PerformLine for financial services marketing compliance

PerformLine is one of the top compliance tools for companies looking to manage regulatory compliance risk in online content. The three key areas PerformLine focuses on include: 

  1. Web crawling that checks and monitors brand content.
  2. Reviewing marketing material to ensure compliance.
  3. Web and social media scanning and checking rules.

PerformLine is a cloud-based solution built for larger corporations in the financial services, insurance, and higher education industries and offers a wide range of compliance-monitoring features. 

Some of PerformLine’s more well-known services are:

  • Technology that automates compliance checks
  • Pre-built rules based on requirements from regulated industries, such as banking, healthcare, tech, education and more
  • Multi-language monitoring
  • An extra “pro-service” available to assist with analysis and remediation of compliance issues

For large compliance teams, these features can be valuable for streamlining efforts. For community financial institutions  or growing Banking-as-a-Service (BaaS) providers, they most likely won’t need the amount of tools PerformLine provides, which can easily overwhelm the compliance analysts or marketers managing compliance risk.

Here a few things to consider when using PerformLine:

  • High price tag. Because the tool caters to large corporate companies and offers a wide range of features, the pricing reflects that. As a BaaS provider or bank, you may not be ready to commit such a large budget to a compliance tool, especially if you won’t be using many of the elements included. 
  • Complex management of many features. The amount of data and information available can be overwhelming when you first start using the tool. You may need time to learn how to use PerformLine, or even hire another person to help manage it. For example, PerformLine uses pre-built rules and rule libraries instead of custom rules. This can increase the amount of data available, making compliance monitoring more complex to manage as it’s difficult for you to discern what truly needs attention. The tool’s size also means it could be difficult to request a new feature that would help improve your compliance processes.
  • Lack of compatibility with your current compliance processes. As a compliance or marketing team that’s trying to be efficient and cost-effective, having to spend time and resources coping with large volumes of data isn’t ideal. Collaboration with your fintech or commercial partners may also prove challenging if they have no way to access reports on their compliance efforts or activities. 

If you’re a financial institution or company and looking for a better fit, which PerformLine alternative could suit you? Here are four different options.

4 top alternatives to PerformLine for financial services companies

Ideally, as a compliance analyst or marketer, you’re looking for a compliance marketing tool that doesn’t replace you or your processes, but complements your work and helps you do your job more efficiently. 

Four of the top alternatives to PerformLine for financial services companies include:

  • Fintel Connect
  • BrandVerity
  • Red Marker
  • Tennis Finance

Here is an overview of each alternative. 

1. Fintel Connect: a marketing compliance engine designed for financial services

At Fintel Connect, we operate as an affiliate marketing agency, platform, network, and compliance tool in one. We specialize in helping financial services companies acquire customers with affiliate marketing via our agency, network, and platform. A big part of running an affiliate marketing program as a financial services company is monitoring the content affiliate partners create so you can better manage compliance risk. Fintel Check, our content monitoring and compliance tool, is part of our suite of products at Fintel Connect and focuses on financial brands and institutions

Fintel Check helps financial services companies monitor the content of their affiliate partners, as well as helps BaaS banks monitor and manage their  fintech or commercial partners’ marketing – or really any other pages they wish to track (including their own!)

With Fintel Check you can:

  • Use an AI-powered rules-based compliance management system designed to save you time by automating the finding and evaluation of specific content.
  • Set as many custom rules as required (which you can update as many times as needed). 
  • Access a quick overview via your dashboard to see at a glance which partners are passing and failing your pre-set rules.
  • Get reports on traffic stats of pages with incorrect information so you can quantify the risk of content issues.
  • Capture screenshots automatically so you can create an audit trail easily.
  • Give your fintech or commercial partners access to the tool so they can manage the content’s compliance risk proactively.
  • Scrape any public-facing pages so you can even track the social media pages of your fintech partners.

Fintel Check Dashboard, a PerformLine competitor

We’ve spoken with many compliance teams well-versed in using tools like this and these are the qualities they most appreciate about Fintel Check.

Fintel Check allows your compliance and marketing teams to focus on what matters

We designed Fintel Check to help you resolve the biggest challenges that come with affiliate marketing compliance: increase the comprehensiveness and reduce the human error that comes with manual reviews to maintain marketing compliance. Since we have first-hand experience with monitoring content on behalf of our client’s affiliate programs, we know how labour and time intensive it is. This is why we built a tool with specific features and capabilities that financial brands really care about. 

While PerformLine monitors every page featuring mentions of your brand or product, Fintel Check provides you with the flexibility to choose specific page URLs to track and allows you to establish custom rules. This means you won’t be inundated with data and can pinpoint what needs attention more easily and quickly. And, if you’re already using Fintel Connect to manage your affiliate marketing, you have the added advantage of automatically knowing what to monitor  using the same tool.

compliance rule settings in Fintel Check, a Performline Competitor

One of the most time-consuming parts of monitoring content is taking screenshots and creating data logs for an audit trail. With Fintel Check, you can set the parameters to take automatic screenshots of your URLs and establish how frequently you want them taken. This will allow you to see what was live on the website one month, six months or two years ago, so you can build an automatic audit trail.

Finally, we actually offer the ability to get ahead of compliance challenges in the first place by offering a feature that allows you to proactively control your marketing content using our product feed. The feed can be embedded directly onto webpages or in campaigns, and then the content can be managed right within Fintel’s platform.

Fintel Check gives you flexibility and visibility to improve your current compliance program, not replace it

You can think of Fintel Check as your marketing compliance calculator, assisting you to get your job done more efficiently. This means you won’t have to change the way you work because the tool adapts to your processes

For example, you have to deal with rapidly changing laws, interest rates and more in the world of financial services. Fintel Check enables you to work with those dynamics. You can adjust the rules of the content you’re monitoring as much as you want with Fintel Check. If your interest rate updates on a weekly basis, you’ll be able to update your rules just as frequently. 

We designed Fintel Check to be nimble so you can have the flexibility to monitor, control and build an audit trail of the content that makes the most impact. You’ll get access to detailed reports on the rules you’ve set up and the content you’re monitoring. You can view the information on the online tool itself, or export the data for your own internal reporting requirements. More than that, you’ll have access to a dedicated account manager that will be there to support every step of the way. 

Fintel Check allows you to manage compliance collaboratively, enabling positive relationships with your partners

Ideally, you want to work together with your fintech and commercial partners to ensure content is compliant. This helps enable a more positive relationship, and the partner you’re monitoring can also be more proactive about their compliance.

With Fintel Check, you can invite the partner onto the dashboard where they can monitor their own content, see which content passes and fails, and proactively update their pages. 

We also understand that as a compliance analyst or marketer, a lot of content compliance falls on your shoulder. Our tool not only makes it easier for compliance and marketing teams to collaborate, but is there to support you with access to a specialist team who can assist you when you need guidance.

Learn more about how you can get your marketing compliance for financial services right.

Who is Fintel Check good for?

Fintel Check is well suited to financial services companies that have affiliate programs they need to monitor. We’re also great for financial institutions that are new to BaaS or looking to scale their BaaS partnerships, and need a marketing compliance monitoring tool that helps solve the specific problem of monitoring fintech or commercial partners’ content. 

For example, a well-established bank based in the US recently started offering banking services to fintech partners and explored the potential of working with PerformLine. 

After serious consideration of PerformLine, they decided it was too complex and expensive considering their needs and the features they were going to use.

Then they discovered Fintel Check and have now been using our tool to monitor multiple fintech partners. What they like most about Fintel Check is that it complements the compliance team’s current processes rather than replaces them, is more affordable and allows the room to grow their partner program safely and comfortably. 

Book a demo to see how Fintel can help you elevate your content compliance management. 

We understand that Fintel Check may not be a fit for every company, so here are three other PerformLine competitors and similar companies that may be worth looking at, depending on your business needs:

2. BrandVerity

BrandVerity is a paid search and brand compliance solution that helps companies with compliance risk management, marketing spend optimization, and partnership agreements. Their features include:

  • Paid search monitoring, including unlimited daily searches and vetted, same-day data
  • Brand compliance tools that perform comprehensive crawls, in-depth page analysis and new content discovery with configurable criteria
  • A tool to review risks faster with highlighting and auto-scrolling
  • Track resolutions via historical screenshots and activity

Who are they good for? BrandVerity operates similarly to PerformLine. This compliance software solution has been around since 2008 and offers many features that cater to all industries. The company size and legacy means that the cost can be high for banks and BaaS providers. BrandVerity might be good for large, well-established banks that want a tool similar to PerformLine.

 

3. Red Marker

Red Marker is an AI-powered compliance management platform that helps marketers automate the legal review of marketing content. Their features include:

  • Legal, brand and compliance risk monitoring via AI-trained software
  • Integration with workflow and content-management software
  • Document scanning to automate legal compliance reviews
  • Integrations with multiple partners such as Asana, Microsoft and Figma

Who are they good for? Red Marker is a more flexible and affordable tool than PerformLine that has fewer features and focuses more on content review. However, they work with a variety of industries, which means they may miss some critical features that a financial institution would care about, such as taking automatic screenshots, being able to adjust reports on the platform before downloading them, and requesting new rule requirements. The tool might be a good fit for financial services companies that want to focus more on reviewing and managing their own content rather than monitoring their partners’ content.

4. Tennis Finance

Tennis Finance is a comparatively new automated compliance tool for BaaS and partner banks. Tennis Finance’s features include:

  • Real-time feedback and recommendations on marketing materials
  • Audit trail
  • The ability to choose the models and rules you need to satisfy your bank and industry requirements 
  • Dedicated expert compliance officer support services
  • An AI automation tool that scans marketing sites, policies and advertisements

Who is Tennis Finance good for? Tennis Finance is still quite new as a compliance management software alternative, but would be good for a financial services company that wants to check language and regulations before publishing. It’s a ready-to-use tool that may benefit companies more focused on content reviewing both online and offline and don’t require as much in terms of creating audit trails, reporting, or granting partner access in the overall compliance process.

PerformLine competitors: pick a tool that addresses your unique compliance needs

PerformLine is a well-known and long-standing solution in the compliance space. However, for financial services companies that are looking to monitor their fintech or commercial partners’ content and may have smaller budgets, it can make sense to look for an alternative.

We built Fintel Check to help compliance analysts and marketers focus on their biggest priority: ensuring the content their partners create is compliant via monitoring, audit trails and collaboration. 

If you’re interested in seeing a demo of the tool, reach out to us now to get started

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