Cyan Regulatory have entered into a partnership with software providers Decision Focus to develop a governance, risk and compliance management system called Beacon.
Using the expertise within the Altair Group, Beacon has been designed by Cyan Regulatory alongside governance specialists Altair Directors to generate efficiencies within risk and compliance teams, reducing the amount of time spent on administration.
Beacon includes a suite of customisable compliance framework documents, a risk library, a control library, a legal and regulatory library, registers and management reports for both
“Decision Focus are incredibly excited by the partnership we have opened with Cyan Regulatory. Leveraging our existing technology set and combining this with Cyan’s expertise in the Channel Islands means we can offer a truly innovative product. Beacon enables firms to manage compliance obligations with technology that addresses their regulatory requirements directly, creating huge efficiencies, improving oversight and ultimately saving spiralling costs,” said CEO of Decision Focus, Jon Tollerup.
Cyan Regulatory’s Nicola Crowell (pictured) said: “After working to develop and refine the Beacon system for more than 18 months, we are delighted to announce its launch. In our work supporting the finance industry, we see the pressures that businesses and their personnel face and we are confident that Beacon will be of great benefit in removing time-consuming admin and allowing compliance personnel to focus on value-added work whilst demonstrably fulfilling their responsibilities. RegTech systems such as Beacon will play an important role in enabling businesses to remain cost-effective in a very competitive market.”
Altair CEO Ian Lambert added: “As expert independent directors, Altair is highly focussed on providing excellence in corporate governance. The reporting features and richness of data Beacon can provide to decision makers is outstanding. We feel that Beacon has the capability to help financial services companies not only provide excellent compliance services, but to go further and show their compliance function as a service which sets them apart from their competitors.”
