To defend against an increasingly complex financial regulatory environment and increased cyber threats, firms must employ a comprehensive financial services compliance solution.
The financial services industry is one of the most heavily regulated sectors, with numerous regulatory bodies imposing overlapping requirements for data privacy, access, and cybersecurity standards. Firms often struggle to stay up to date with the constant changes in regulations, enforcement priorities, industry best practices, and new cyber threats.
As such, these firms need strategic guidance from industry-focused IT experts to ensure they remain compliant and avoid risks. With the right guidance, firms can develop programs that meet regulatory and cybersecurity requirements—while still allowing for innovation, growth, and ROI.
CoreComply combines strategy and technology for a comprehensive IT compliance for financial firms.
Most businesses today heavily rely on third-party vendors for a variety of critical functions. However, with third-party vendors come unique risks that must be managed effectively. A poorly managed third-party relationship could lead to reputational damage, loss of business, fines and penalties, and other severe consequences. Firms need a robust third-party risk management (TPRM) solution for managing vendors to mitigate these risks and maintain compliance.
– Source Gartner
A centralized solution automates and streamlines processes while providing enhanced transparency and control. The right mix of strategy and technology will allow your firm to more effectively and efficiently manage activities like audit management, policy and procedure oversite, risk assessments, and internal controls management. Utilizing a comprehensive technology solution to manage IT compliance and risk management will bring the following benefits to your firm.
Each year, FINRA and the SEC outline their enforcement priorities covering a wide range of topics, including technology, cybersecurity, data protection, customer data access, and more.
Here are some of the most critical takeaways for 2023:
As regulatory requirements evolve, many firms struggle to keep up. With new enforcement priorities and expanded regulations in the works from the SEC and FINRA, financial firms need to implement a comprehensive compliance program to respond to changes and mitigate risk. CoreComply delivers strategic guidance and leverages the necessary technology to ensure your business is always compliant.
CoreComply also provides delivers cost savings for firms looking to simplify their compliance process. Our solution automates compliance activities and reporting, saving you time and money. CoreComply reduces the time spent on activities and aligns compliance across the organization, allowing you to focus on your profit centers.
Combining the power of strategy and technology, CoreComply streamlines DDQ responses, audit prep, and producing documentation needed for cybersecurity insurance reporting. In addition, CoreComply enables efficient data gathering and analysis, risk assessments, and monitoring by automating the compliance process with built-in workflows for compliance management. This improvement makes it easier for firms to generate reports and documentation quickly, accurately, and continuously.
Additionally, CoreComply’s third-party risk management component helps firms to identify and assess third-party risks, provide transparency in vendor relationships, promote accountability, and introduce vendor best practices.
CoreComply’s software simplifies responding to DDQ, audits, requirements from cybersecurity insurers, and other needs while reducing the risk of financial penalties and reputational damage.
At Coretelligent, we have extensive experience solving complex challenges for key industry sectors, including the financial services sector. Our ultra-focused expertise and extensive knowledge enable us to deliver industry-specific technology solutions that anticipate and address your real-world business needs.
We understand that private equity firms are focused on optimizing returns for investors. PE firms need reliable IT platforms and industry-experienced real-time support. Coretelligent has partnered with many private equity firms, providing guidance on best practices and delivering technology solutions to ensure they can focus on providing profit for partners.
Venture capital firms rely on technology for evaluating investments and managing their portfolios. They need to focus their time and talent on deals—not on maintaining and operating IT infrastructure. VCs leverage technology to improve relationship management and transparency.
Financial advisory firms must ensure compliance with an evolving array of overlapping regulatory requirements. They need IT solutions that enable them to ensure compliance now and into the future.
Investment banks rely on IT to drive every aspect of their M&A businesses. They require solutions that keep them on the cutting edge while safeguarding sensitive data and ensuring regulatory compliance.
| Customizable & Consultative Approach | X | |
| Extensive Industry Expertise | X | |
| Strategy Engagement & Guidance | X | |
| Full Life-Cycle IT Partner | X | |
| 24/7/365 Support & Monitoring | X | |
| Scalable Solutions | X | |
| Compliance & Cybersecurity Solutions | X | |
| Complete Compliance Alignment | X | |
| Streamlined Client Portal | X | |
Download our guide to learn more about GRC and its importance in solving financial services compliance for your firm.
