Compliance consultant ComplyPortal introduced a new version of its software to help compliance officers and senior management digitally monitor compliance with existing rules and regulations.
The new version of ComplyPortal, which was first introduced in 2011 with the aim to simplify regulatory compliance management, includes a new enterprise risk module to deal with today’s risk management challenges and a complete client on-boarding solution.
Additionally, the platform also features such as a calendared module with a year-round schedule pre-populated with monitoring questionnaires to ease compliance as well as an e-KYC which offers comprehensive searches for client identity verification and document authenticity.
To ensure regulatory compliance continues to be a smooth process in the wake of the COVID-19 pandemic, ComplyPortal’s new version enables users to demonstrate compliance to regulators and third parties at the touch of a button via smartphones or PC. As a result, officers and senior managers working from home can now ensure that they keep better track of their firm’s regulatory responsibilities and workflows.
The ComplyPortal version 3.2 is already being used by over 100 FCA-regulated firms.
The older version was equipped with services such as compliance monitoring, a document archive with permission-based access, email reminders for any outstanding tasks and static databases to log any relevant data among other uses.
Commenting on the new version, ComplyPortal’s head of portal services Hilton Goudriaan said, “Ensuring compliance is a necessary and increasingly challenging task for companies. When you add the fact that staff in financial services are on the whole working remotely, because of COVID-19, more must be done to ensure work online is quicker, done better, and importantly compliant with rules and regulations.”
To date, Complyport boasts of having assisted with over 1,000 applications with their FCA and EU regulatory licences as well as other tasks such as investment management, securities brokerage, banking, venture capital, private equity, corporate finance, social finance and capital introduction.
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