Mindtree and MetricStream join hands to alleviate GRC pains of financial firms

BANGALORE, INDIA: 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 Governance, Risk, and Compliance (GRC) applications for financial firms globally.

Kamran Ozair, Executive Vice President and Head of Banking, Financial Services and Insurance, Mindtree, said, “Increasing global commerce, digitization and fraud is putting tremendous compliance pressure on financial institutions.”

The partnership will enable clients automate and manage regulatory processes from trade validations to tracking and will help them to reduce operational risks and avoid penalties levied for inaccurate reporting.

Together, the companies will co-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.

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.”