Financial institutions have always been under immense pressure to comply with an ever-growing set of regulations. Irrespective of their sizes, all the financial institutions are now under the microscope which means that achieving regulatory compliance is no longer optional. Although meeting regulatory standards have never been a cake walk but the repercussions that non-compliance follows are far beyond serious; be it exorbitant fines or naming and shaming, non-compliance can leave a scar on the firm’s reputation for a long time. Consequently, it is important for all financial institutions to understand that the challenges related to compliance monitoring are ever-increasing and diverse.
CAMP- Your One-stop Solution for Compliance Monitoring
Traditional due-diligence and monitoring tools are helpful but not sufficient to address these alarming challenges in a timely manner. Unlike the traditional tools, solutions like Compliance Activity Monitoring Portal [CAMP] can be extremely influential in addressing the major challenges that financial issues are facing. Here is everything you need to know about CAMP:
What is CAMP?
A product of 3Mindz, Compliance Activity Monitoring Portal [CAMP] is a unique solution which aims to ease the manual process for financial institutions by employing increased automation.
What are its key features?
CAMP offers a wide range of distinct features such as KYC and adverse information screening, trade and transaction surveillance, complaints management, regulatory compliance management, an email notification system among others. It offers low-cost, tech-based innovative solutions to help financial institutions in fulfilling their regulatory obligations in the best possible way.
What does it offer to the financial institutions?
Unlike the traditional tools of compliance monitoring which serve only one of the many purposes, CAMP offers a wholistic solution to its clients. From maintaining the audit trail of the entire case right from the beginning, recording and managing the case components to providing analytics and data, CAMP is designed to complement the technology of organizations in a systematic manner. The features offered by CAMP can also be customized as per the firms’ requirements. Additionally, it is extremely very user-friendly, cost-effective and reliable from a security standpoint.
The increasing demand from regulators makes it imperative for financial institutions to find a budget-friendly solution like CAMP to fulfill their regulatory requirements.
If you want to know about CAMP and its benefits in detail, contact us.