Mindtree, a leading digital transformation and technology services company, announced that it has partnered with MetricStream, the market leader in Governance, Risk, and Compliance (GRC), to help simplify regulatory compliance for financial firms.
Mindtree will leverage MetricStream’s Zaplet, a cloud-based open platform to build, deploy and manage a variety of GRC applications for financial firms globally.
“Mindtree’s expertise in the financial sector combined with MetricStream’s market leadership in the GRC domain will enable clients automate and manage regulatory processes from trade validations to tracking,” the company said in an official release.
The companies will jointly develop a comprehensive trade-reporting framework to support multiple regulations such as the Dodd Frank Act, the European Market Infrastructure Regulation Markets in Financial Instruments Directive, and the upcoming Markets in Financial Investments Regulation. This will enable financial institutions to reduce operational risks and avoid penalties levied for inaccurate reporting.
Kamran Ozair, Executive Vice President and Head of Banking, Financial Services and Insurance, Mindtree, said, “Increasing global commerce, digitisation and fraud is putting tremendous compliance pressure on financial institutions. This partnership will allow us to provide robust compliance solutions and help clients simplify regulatory requirements and reduce associated expenses.”
Rajesh Raman, VP of Zaplet, MetricStream said, “In today’s environment, it has become imperative for financial institutions to have a robust compliance framework which enables them to operate efficiently and manage risks. MetricStream’s cloud-based Zaplet GRC platform provides such a framework and enables our partners to build solutions to meet these critical needs. We are extremely excited about our partnership with Mindtree.”