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Why Credit Card Issuers Need PerformLine’s Social Media Compliance Monitoring

September 10, 2023
Credit card social media compliance monitoring

For credit card issuers, protecting your brand’s reputation is crucial—especially across a channel as widely used and powerful as social media. With endless discussions, mentions, shares, and promotions happening online every day, your brand is vulnerable to risks and compliance issues.

Are you truly aware of what’s being said about your brand and product(s) on social media platforms by merchants, affiliates, and other third parties? Are you equipped to combat misleading information and protect your consumers? Manual review alone can’t provide the comprehensive coverage needed to find and mitigate these risks effectively.

PerformLine’s Social Media Monitoring solution allows credit card issuers to automatically monitor their brand across social media platforms—including unknown brand mentions—to identify potential compliance risk at scale.

Here’s why leading credit card issuers use PerformLine’s Social Media Monitoring—and why you should, too.

The Importance of Monitoring Social Media for Compliance

The influence of social media knows no bounds. The fast-paced nature of online conversations, coupled with the sheer volume of content generated daily, makes it challenging to stay in control. Having comprehensive oversight of your brand is critical in today’s regulatory environment.

Monitoring social media for regulatory and brand compliance can help credit card issuers:

  • Ensure compliance with regulations such as the Truth in Lending Act (TILA), the Credit Card Accountability Responsibility and Disclosure Act (CARD Act), Unfair, Deceptive, or Abusive Acts or Practices (UDAAP), and fair lending laws
  • Discover unknown brand mentions to ensure accurate and compliant promotion of products and services across all social media platforms by merchants, affiliates, and other third parties
  • Mitigate risk by identifying and addressing potential compliance issues proactively, before they escalate into major problems
  • Safeguard brand reputation by promptly identifying and rectifying any misleading or non-compliant content associated with your brand or credit card offerings, thus protecting consumers
  • Avoid enforcement actions and costly fines by ensuring that merchants, affiliates, and third parties adhere to regulations and brand guidelines
  • Build consumer trust by demonstrating adherence to consumer protection laws and fair treatment of consumers

Using PerformLine’s Social Media Monitoring for Compliance

With PerformLine’s Social Media Monitoring solution, credit card issuers can automatically monitor social media platforms to discover, identify, and remediate potential compliance issues at scale. 

PerformLine’s Social Media Monitoring provides credit card issuers with:

  • Automated discovery: Discover and monitor brand and credit card mentions across major social media platforms to ensure comprehensive coverage and compliance protection
  • Daily monitoring and alerts: Monitor and review social media platforms every day to get alerts on high-impact potential compliance violations that require immediate review or remediation
  • Regulatory compliance rulebooks: Utilize turn-key rulebooks built on regulatory expertise and required disclosures to identify potential compliance issues
  • Efficient remediation and progress tracking: Send templated remediation notices directly to merchants, affiliates, or other third parties, facilitating prompt action and documentation of potential violations
  • Centralized workflow: Seamlessly track activities across internal departments and external partners within a single platform
  • Documentation and archival for audits: Maintain a complete history of discovery and remediation actions, ensuring readiness for any audit scenario
  • Business intelligence reporting: Access detailed reports to monitor compliance performance over time and pinpoint areas for improvement
  • Regulatory expertise: Our team includes experts who stay up-to-date on the latest compliance requirements and can help credit card issuers ensure compliance

As the social media landscape is ever-changing, we continue to add and update platform coverage by listening to what our clients care about most—meaning, as social media platforms evolve, so does your compliance coverage with PerformLine.

PerformLine’s Social Media Monitoring covers a wide range of social media platforms, including:

  • Facebook
  • LinkedIn
  • Twitter
  • Instagram
  • YouTube
  • TikTok

How this company uses PerformLine to monitor 200+ partners and 92k+ social media posts

This client uses PerformLine’s Social Media Monitoring (and Web Monitoring) to monitor their large network of 200+ partners—and monitored over 92,000 social media posts within their first six months of onboarding with PerformLine.

With PerformLine, this client achieved:

  • Robust coverage and visibility into brand mentions across social media, successfully monitoring 92k+ posts and counting
  • Discovery of unapproved marketing materials that weren’t submitted for approval—and wouldn’t have made it through the approval process—that they were able to quickly address and remediate
  • Scalability and efficiency through a streamlined and automated social media compliance monitoring process

Get started with PerformLine’s Social Media Monitoring for compliance

Learn how to streamline your social media compliance monitoring processes at scale to reduce risk, increase efficiency, and save time and money with PerformLine. Request a demo today.

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