Revelus unveils first governance, risk and compliance framework for the financial services industry
Revelus, a business of i-flex solutions and a provider of analytical applications for the financial services industry, yesterday announced the availability of the Revelus Governance, Risk and Compliance (GRC) framework, a solution for implementing a governance structure, managing enterprise risk, and enabling regulatory compliance.
The framework brings together a direct measurement and surveillance capability unique to the financial services industry with the more traditional risk & control self-assesment approach. With the Revelus GRC framework, financial institutions gain a higher degree of operational insight and improve business performance by avoiding the traditional band-aid approach, the firm says. The GRC framework aims to solve two pressing risk and compliance challenges faced by financial institutions worldwide: Hidden costs of multiple systems and the duplication of processes that are not only expensive to maintain, but also hinder the ability to holistically manage the impact of external and internal risk and compliance events.
"With a financial services industry focus, our GRC framework and GRC solutions experts fill an important gap in the current market. It empowers executive management with a process-oriented approach that ensures compliance with multiple regulations and better measurement of risk," says S. Ramakrishnan, CEO, Revelus and Mantas. "Our solutions go beyond the 'now' such as MiFID in the EU, Reg NMS in the US and Basel II globally, and work well into the future because we have the ability to help financial services clients adapt to both the internal and external drivers of change," he adds.