RegComTech® Implements Governance, Risk Management, Compliance And IT Security As An Integrated Model that Aligns Business Processes With Strategic Objectives.
The Copenhagen Compliance® RegComTech® value proposition is; to perform the right Regulatory Compliance technology activity. Get it right the first time and receive the rewards from integrated and effective Governance, Risk Management, Compliance and IT Security (GRC) technology, processes and systems. In other words, the RegComTech® approach is to rethink in a holistic manner and to create value for the company, stakeholders and customers.
Avoiding non-compliance consequences
The financial services industry, for example, is spending a vast amount of resources and money to comply with various regulations and risk management activities to meet the rigorous oversight deadlines. Unfortunately in many cases the time, effort and money are spent on Compliance activities, simply as a check-the-box exercise. In reality, the energy spent on regulatory compliance activity does not create value, because of limited resources and lack of strategy and direction.
The RegComTech® approach considers developing a GRC technology strategy, by giving technology-related risks the proper concerns. RegComTech® uses the rapid technological mobile devices, social networking, big data and cloud computing, not as just a means for faster and more accessible data but automation, value, speed and IT security aspects.
New and revised regulations and oversight continually increase so that there is more regulatory compliance around the corner. RegComTech® brings these old and new GRC activities to the management table and the board agenda.
- RegComTech® realises the issues many organisations are struggling with and provide solutions by integrating and automating, Governance, Risk Management and Compliance and IT Security
- RegComTech® combines the GRC activities as a valuable tool to drive revenue and increase their competitive advantage
The offspring of changing markets and conditions reveal new risks, alter risk profiles and reduce the effectiveness of established risk management capabilities. The RegComTech® risk oversight agenda takes such changes into account the following GRC processes;
- RegComTech® considers GRC and IT security as an integral part of organisational culture. With the right ethics and integrity implementation, it percolates down into everyday business processes and decision-making at every level
- RegComTech® ensures that technology plays a significant role in simplifying GRC processes, optimising resources, streamlining and automating workflows and enabling real-time monitoring and reporting
- RegComTech® unites technology with people and processes under the standard umbrella of GRC
- RegComTech® distinguishes between risks and opportunities and thereby optimising costs, improve financial and operational stability and gain the trust of oversight authorities, regulators, stakeholders, investors and customers.
The change procedure of RegComTech® addresses capital markets and other trade issues and circumstances by generating new risks profiles to increase the effectiveness of established risk management capabilities.