SONABS Software and Services
End-to-end compliance solutions instead of software patchwork
We know the real situation among a considerable number of financial institutions: a large amount of various systems, of data formats and interfaces. Hence, efficiency loss, higher costs, lack of transparency and operational breaches are increasing the risk of findings.
Though we can change this. Due to a smart combination of software and services we are able to create a paradigm shift. The result: operating efficiency and regulatory safety. For our customers it means a big step towards compliance automation as well as significant resource and costs savings. More about this to be discussed in a personal meeting.
SONABS knows how to develop intelligent and easy to use solutions for its customers:
The easy to use multi tenant cloud solution for regulatory inventory and compliance information in one solution.
Complex regulatory tasks simply controlled!
The complexity rises with the amount of information and its distribution within the company. The more information exists, the stronger the challenges are to take the right decisions.
Various systems, formats and data storage locations even increase this challenge. With the support of SONABS GRC you make a huge great progress towards compliance automation!
Legal Inventory and Monitoring
- overview of the regulatory requirements, including notes, comments and measures
- monitoring, controlling and auditing of all compliance specifications, projects and tasks
- workflow support of Regulatory-Watch procedures and connection of information services (Regupedia, VÖB Radar, etc.)
- implementation of a centralized legal inventory
- project and risk management, ad hoc status overview, audit-proof documentation of the implementation
- Due to SONABS GRC software you can collect entire relevant information in one single system. This allows you to supervise automatically the fulfillment level of the regulatory guidelines and the corresponding projects
- The completion status is indicated in real time by means of each completed task
- Information goes automatically to the user, precisely when this is required
Easy to use
- Support in operational processing through easy to understand scorecards
- Actions, instructions, responibilities, information chains, costs and target dates are easily set
- Reminders inform all or predefined team members from different business lines based on predefined time frames
- Audit-proof documentation of progress, supervisors and project managers keep control
The forerunner of SONABS GRC software existed as a complex research project, set up by leading German research institutions. Thereby a new approach concerning risk prevention and management control was tested in practice. The knowledge thus gained has served as a basis for SONABS GRC methods and software.