Allied Solutions, a leading provider of insurance, lending, and risk management solutions to financial
institutions, is proud to announce the launch of its new "Quote by Address (QbA)" feature. The new
feature is one of the first technologies specifically designed to help financial institutions with multi-state
lending footprints improve their compliance with new regulatory requirements related to guaranteed
asset protection (GAP) agreements.
The introduction of QbA comes as states continue to focus on legislation regarding the regulation of
ancillary protection products, such the recently enacted HB 23-1181 in Colorado, which applies to GAP
agreements entered on or after January 1, 2024.
Allied Solutions' QbA feature is a proactive solution to help state chartered institutions and large
federally chartered institutions navigate new and future regulations. Integrated into iQQ, Allied's
quoting and selling platform, QbA allows financial institutions to sell state-specific, compliant GAP
programs based on where their consumer resides. By automatically quoting the correct rate and
program features and providing a state-compliant waiver based on consumer address, QbA streamlines
the quoting process and helps ensure compliance with the latest regulatory requirements.
"We are excited to introduce the QbA feature as part of our ongoing commitment to helping our clients
navigate the complex regulatory landscape," said Pete Hilger, CEO at Allied Solutions. "With the
implementation of new regulations in various states, including Colorado, we believe that QbA will
provide financial institutions with the tools and flexibility they need to remain compliant while offering
competitive and state-specific GAP programs to their members."
While the use of QbA is not mandatory, embracing its functionality is critical for financial institutions
operating across multiple states or facing compliance-related concerns. QbA ensures adaptability in an
ever-evolving regulatory environment and can help institutions maintain compliance as they continue to
grow.
About Allied Solutions
Allied Solutions is one of the largest providers of insurance, lending, risk management, and data-driven solutions to financial institutions in North America. Allied Solutions uses technology-based solutions customized to meet the needs of over 6,000 banks, credit unions, finance companies, mortgage servicers, and auto dealers, along with a portfolio of innovative products and services from a wide variety of providers.