X-WERT supports Banks with compliance management functionalites as a service at interesting terms & conditions.
Regulatory requirements tie up a large amount of the resources available nowadays. The new MaRisk from December 2012 enforce the creation of a new compliance function for all financial institutions which is supposed to implement the necessary processes to keep in line the judicial requirements and guidelines and make the necessary control checks.
The compliance function is supposed to guide and support the management with the legislative requirements and guidelines.
This function has a far reaching obligation to have an overview over the potential endangerment for the institution. To make the compliance officer more capable of acting the right way he should be independent of instruction, have the right to inspections in suspected case and be able to gain access to all relevant data, have access to facilities and interrogate employees and witnesses. Only by having an independent and autonomous compliance officer its efficiency can be warranted. Otherwise the compliance officer stays part of the systems he is meant to watch and control.
X-WERT BankTechnology AG offers these functions as innovative services, which has an attractive cost model for small and medium sized banks.