PrimeQ has partnered with SafePaaS to expand risk management capabilities across Australia and New Zealand.
PrimeQ is an Oracle business solutions provider in Australia and New Zealand focused on Oracle Cloud solutions. It claims to enable its customers to better leverage Oracle’s Cloud solutions to drive business improvement and cost reduction within their organisations.
“With the rapid adoption of Oracle ERP Cloud, there is growing demand for predictive risk assessment and automated mitigation as our customers leverage the latest Oracle Cloud applications to increase the efficiency and productivity on the modern digital platform,” said Mike Luyckx, COO of PrimeQ. “SafePaaS enables our customers to address their Governance, Risk and Compliance needs by deploying advanced controls within their ERP systems that prevent losses, waste and fraud.”
With the financial services industry experiencing significant increase in regulations, globalization and outsourcing, management has been forced to re-examine internal controls such as internal audit, information security, and business continuity, disaster recovery, fraud protection, and data privacy.
Global and regional regulators have imposed stringent compliance requirements to ensure transparency and protect customers. For example, US agencies have honed their focus on regulations, holding institutions to a higher standard, and the Consumer Financial Protection Bureau, created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, is bringing a new authority and perspective to the oversight of financial services companies in attempt to ensure compliance with regulations.
In response, SafePaaS provides solutions to enable Banks, Insurance companies and other financial services institutions, to integrate their business applications into its enterprise risk management (ERM) program using the latest capabilities of SAfePaaS Smart Controls Cloud.
According to the company, the solutions can prevent penalties from regulations such as FCPA, UK Bribery Act, Dodd-Frank and Sox. It also helps to improve supplier governance with master data monitoring and remediate data access risk with roles management.
Its solutions also help to secure enterprise data and act on trusted information. The company assists in mitigating risks of enterprise data breach from cyber threats, detecting data governance policy violations from internal users and comply with a wide range of regulatory mandates.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
