KRM22 plc (AIM: KRM), the technology and software investment company, that focuses on risk management for capital markets, today announces that it has partnered with Trailight Ltd ("Trailight") to further enhance the KRM22's Global Risk Platform. The partnership includes an agreement for KRM22 to distribute and support the Individual Accountability Regime and People Risk Management products on the KRM22 Global Risk Platform.
Trailight provides two compliance products to capital market firms. The Individual Accountability Regime product is designed to be the industry benchmark for financial organisations to comply with the FCA Senior Management & Certification Regime ("SMCR"). The product provides firms the control, visibility and agility to manage accountability throughout the organisation. Trailight's People Risk Management product enables financial institutions to manage people risk efficiently in accordance with regulatory rules on competence and conduct risks.
Keith Todd, CEO of KRM22 commented "Through the implementation of SMCR, the FCA is the latest financial regulator to introduce a new era of accountability for individuals designed to raise standards of governance and conduct in financial services. To ensure effective compliance, firms will need to have in place an end to end compliance solution to capture, evidence, monitor and report the extensive transparency and disclosure requirements. Firms will struggle to manage these requirements using traditional disparate siloed and off system processes. We are delighted to be partnering with Trailight on its holistic compliance offering allowing firms to confidently manage all their regulatory obligations in one place in a cost effective and efficient way".
David McNair Scott, CEO of Trailight, commented "We are excited to partner with KRM22 offering our compliance products through its Global Risk Platform. Our products help our clients stay one step ahead of the complex and evolving regulatory landscape. We have seen great market reaction and adoption of our Individual Accountability Regime product and with the final phase of SMCR implementation on the horizon we welcome the opportunity to scale up our business to meet growing demand through this partnership".