Lucidoc and Paragon Compliance Group Join Forces; Strategic Alliance is First to Enable Banks to Align Training and Compliance Management.

REDMOND, Wash. -- Lucidoc, a leading provider of advanced software technology for managing compliance, announced today that it has entered into a strategic alliance with Paragon Consulting Group, a consortium of nationally-recognized compliance consultants and training content providers headquartered in Winnetka, Illinois. As part of the agreement, Lucidoc and Paragon will align their sales and marketing efforts to bring advanced compliance management solutions to the banking industry. Initially, Lucidoc and Paragon will work together by using Lucidoc's technology infrastructure to integrate a bank's policies and procedures with Paragon-created training content. This unique offering will enable banks to electronically display policies and procedures side-by-side with training materials and offer direct links to related content. By integrating these oftentimes separately managed but related activities, banks can manage the complete lifecycle of policies, procedures and training, including content updates and competency tracking. In addition to using this technical infrastructure to build a compliance-focused culture, banks can benefit by significantly reducing the cost and exposure to violations and can save considerable time by streamlining operations when policies and procedures are electronically managed.

Paragon Compliance Group Senior Advisor, Lucy Griffin, CRCM, succinctly explains the value this provides banks. "Synching up policies, procedures and training electronically, puts bank managers back in charge because competency tracking, training and policy management and distribution are completely automated." Griffin added, "Not only can this reduce countless hours of meetings, scheduling and training, everything from auditor reviews to compliance management becomes streamlined, creating significant efficiencies and saving countless dollars."

Kim Mackay, president and CEO of Lucidoc, is very pleased to partner with the Paragon team. "The executives at Paragon have a deep understanding of banking issues and are aligned with Lucidoc's vision of helping organizations to use technology to create a culture of compliance." Mackay added, "We look forward to jointly working to help banks gain control over compliance and training management with technology that can help them achieve greater efficiencies and cost savings."

In the effort to manage a compliance program and training, banks struggle with the perpetual challenge of keeping policies, procedures and compliance information up to date so that all staff is working with the same knowledge and resources. In addition, banks need to prove competency for the regular training and reporting required for compliance regulations such as the Equal Credit Opportunity Act, the Bank Secrecy Act, the FACT Act and others. The Lucidoc Compliance Management solution addresses this issue by creating an infrastructure that enables banks to automate the intersection between policy management, operations and training. Updates and changes can be controlled from specific locations and implemented automatically throughout all relevant parts of the system. Automating these activities and materials can significantly minimize a bank's risk exposure because compliance and training issues are caught before they fall through the cracks. The system also assigns policy ownership to designated positions within the bank and automates periodic reviews by sending reminders and managing responses and distribution of updated materials. The system also archives changes and past policy versions, providing a complete and succinct history for examiner reviews.

About Lucidoc

Lucidoc Corporation, headquartered in Redmond, Washington, was founded in 2000 and is privately held. The company's advanced Compliance Management Solution helps organizations in highly regulated industries create a compliance-ready culture and generate organization-wide efficiencies with their compliance infrastructure technology and tools. The advanced software was pioneered in partnership with NASA's Jet Propulsion Laboratory at the California Institute of Technology and creates the first "living" repository for thousands of documents and procedures. Delivered as a hosted service over the Internet or as a managed service via an organization's intranet, the software integrates the process of compliance with the management of documents and forms. This enables an organization to completely automate reviews; revisions; sign offs; plus changes in related documents, and provides desktop access to complete and accurate information. The Lucidoc solution is in use at leading healthcare, banking, and government organizations. For more information, please visit www.lucidoc.com.

About Paragon Compliance Group

The Paragon Compliance Group is a partnership comprised of three leading national compliance consulting firms serving financial services institutions. Founded in 1998, Paragon provides compliance training and consulting for organizations such as BankersOnline, ABA, and BAI, in addition to several state and regional organizations as well as a host of banking and financial institution clients. Paragon Compliance Group produces the Compliance Training Manager, individualized training programs, and video training programs. Paragon also provides financial institutions with guidance and support in developing policies and procedures for effective compliance programs. The Paragon partnership is comprised of Compliance Resources, Inc., Compliance Advisory Service, Inc., and Jefferson Cook Associates, Ltd. For more information please visit www.ParagonCompliance.com.