QUMAS, a developer of enterprise governance, risk and compliance applications, is to release the financial services industry’s first end-to-end closed-loop compliance application.
The QUMAS Compliance Closed-Loop Process highlights all of the core activities that fall under compliance, and serves as the underlying framework for QUMAS technology and pre-configured suites.
Using the process, financial services organizations should be able to accurately review, correct, document and report compliance information and take corrective actions. For the first time, financial services organizations will be able to treat compliance as a single unified process rather than as a series of silos that vary with department or regulation, QUMAS said in a statement.