StratexSystems’ software tool is set to take UK financial services industry to an improved level of maturity in risk management and strategy execution.
10th November 2014, London, UK. A UK Financial Services Regulator has deployed the StratexPoint solution from StratexSystems as an enterprise-wide Governance, Risk & Compliance (GRC) solution that underpins its regulatory risk framework. The software enables our client to deliver its statutory objectives, which are focused on maintaining the stability of the financial services sector by supporting the regulation of around 1,700 of the UK’s largest and most important financial services firms.
StratexPoint will take the industry to an improved level of maturity in risk management and the understanding of risk-taking. It has the potential to deliver a transformational regulatory framework for the Regulator, enabling it to influence and support financial services firms in achieving their strategic objectives while understanding, monitoring and operating within their risk appetite.
Powered by Microsoft’s SharePoint technology, StratexPoint integrates strategy execution and risk management into a single solution. It automates all related activities, and improves the quality, accuracy and timeliness of its information and processes so that risk-taking and strategy delivery can be aligned with risk appetite and compliance.
The project was delivered on time and within the client’s budgetary requirements by StratexSystems in collaboration with Cognizant, a leading provider of information technology, consulting and business process outsourcing services. Andrew Smart, CEO of StratexSystems, said: “The client considered that Cognizant’s expertise in implementing risk management solutions and our experience as a technology and framework vendor positioned us to provide the most effective long-term solution.”
The UK Financial Services Regulator chose StratexPoint for five primary reasons:
• The framework’s ability to be expanded in order to meet the short-term and long-term goals of the client
• Its alignment with their architectural, strategic and security requirements
• Compliance with the client’s preferred technology stack – SharePoint, Active Directory, SQL Server and SSIS
• Its flexible analytics and reporting capability
• The solution's easy integration with multiple other systems, including Microsoft Dynamics
With the regulatory landscape changing globally, this client is the second major European central bank/financial services regulator to select StratexPoint as its risk management solution. StratexSystems is also actively engaged with other regulatory bodies and leading financial service firms within the UK and across Europe as they explore new technology platforms to meet their changing risk and regulatory demands.
ENDS
For more information about StratexSystems, please contact:
Eliza Hawthorn Marketing and PR Executive, StratexSystems eliza.hawthorn@stratexsystems.com
About StratexSystems
StratexSystems is an innovative provider of an Enterprise GRC (Governance, Risk and Compliance) software solution to the global financial services, regulatory bodies and related markets. Since 2010, StratexSystems has been challenging the traditional GRC and risk management providers with its integrated approach and proven track record of delivering real, tangible and measureable return on investment and business value.
Through the deployment of our StratexPoint solution, our clients have been able to significantly reduce the volume and value of their operational losses, leading to reductions in their regulatory capital, improvements in their credit ratings and improvements in their cost of capital. As our solution is built on the Microsoft SharePoint platform, our clients have been able to leverage their existing technology investment and deploy the solution across the enterprise to embed risk management and, specifically, risk appetite at the heart of strategic and operational decision-making.
About StratexPoint
StratexPoint is an Enterprise GRC (Governance, Risk and Compliance) solution built on the ubiquitous Microsoft SharePoint platform. With support for each of the three lines of defence, the solution is comprehensive in nature but modular in deployment, delivering a high ROI, high user adoption and high levels of assurance to your Board and Regulator(s) that you are operating within appetite.
StratexPoint has been deployed to a range of clients across the financial services sector, including Challenger Banks, Mortgage providers and administrators, Investment banks and Financial Services regulators.
