Misys Launches Regulatory Compliance Application

Misys Wholesale Banking Systems (Misys) has developed a new application, Opics Compliance, which aims to automate and centralise monitoring of the limits and rules laid down by the regulators. Misys claims it will enable financial institutions to end manual intervention,

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Misys Wholesale Banking Systems (Misys) has developed a new application, Opics Compliance, which aims to automate and centralise monitoring of the limits and rules laid down by the regulators. Misys claims it will enable financial institutions to end manual intervention, speed up compliance checks and reduce their operational risk.

Misys says Opics Compliance defines, manages and checks the vast array of rules, post-trade and positional limits and events which are present in an increasingly regulated global financial market. The firm says operations managers are now able to define a wide range of limits using definition functions within the application without the need for technical knowledge or coding expertise.

“Existing systems on average only pick up 65% of the rules laid down by the regulators”, says Paula Rice, Head of Products for Treasury and Capital Markets at Misys Wholesale Banking Systems. “Banks battle everyday with the ever-present spectre of rules and regulations. We have developed Opics Compliance, based on the Misys Eagleye product, to take away the headache of having to manage this by automating what was once a laborious time-consuming activity fraught with potential mistakes.”

Misys says the application is capable of performing more than 1,000 checks per second, including inventory limits, compliance rules, trader limits, profit & loss limits, operational risk rules and risk limits. These can be simple checks against a condition, absolute number, percentage or more complex comparisons with historical results or other data held within Misys Opics.

Opics Compliance uses Microsoft.Net technologies.

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