HARTFORD – U.S. Senator Chris Murphy (D-Conn.) announced on Friday that Continuity of New Haven is this month’s “Murphy’s Innovator of the Month.” Founded in 2008 during the depths of the Great Recession, Continuity helps all financial institutions comply with banking regulations. With the help of 13 Connecticut employees, Continuity currently serves hundreds of financial institutions across the country. Over the last nine years, Continuity has grown exponentially. Between 2011 and 2015, the company saw a 1,142% growth in revenue. They were also named Marcum Tech’s 2015 fastest growing technology company in Connecticut, and among Hartford Business Journal’s 2015 Best Places to Work. In 2016, Continuity ranked in the top 1,000 of Inc. Magazine’s fastest-growing private companies in America. Continuity is currently hiring.
“Continuity is growing fast,” said Murphy. “They’re helping banks all across the country reduce the amount of time and money they spend doing paperwork, allowing them instead to spend that valuable time on their clients. I’m proud Continuity calls New Haven home.”
Continuity’s CEO, Michael Nicastro, said, “In 2008 we were looking for a headquarters that would give us access to talent while still being an accessible and fun location for our team. Continuity is committed to finding local, educated folks that are driven to help our business. We feel that New Haven is a city that more and more people are choosing to live in. It has many quality of life assets such as access to arts, museums and cultural events as well as a lively restaurant and entertainment scene. It is also as a place where they can make a living creating innovative and mission critical technologies like RegAdvisor® Pro for financial institutions.”
By combining regulatory expertise and cloud technology, Continuity provides a way to reduce regulatory burden and mitigate compliance risk at a fraction of the cost. Continuity developed RegAdvisor® Pro, the first automated regulatory change management solution; RegControls™, a compliance software that houses hundreds of pre-built compliance procedures in an easy-to-use online format, turning compliance processes into simple online tasks; and Vendor Management, which automates risk assessment and due diligence of an institution's 3rd-party relationships.
Murphy believes entrepreneurship and innovation are building blocks for a strong economy. In the U.S. Senate, he has introduced two bipartisan pieces of legislation to incentivize angel investors to put more money into startup companies – the Angel Tax Credit Act and the Helping Angels Lead Our Startups (HALOS) Act. Last month, Murphy’s HALOS Act passed the U.S. House of Representatives. Startup companies create an average of 2 million jobs each year.