CRINDATA Releases Cloud-Based Business Continuity and Incident Management SaaS
CRINDATA has released its state-of-the-art business continuity and incident management SaaS to financial institutions and their critical third party service providers.
Dallas, TX, October 08, 2021 --(PR.com)-- CRINDATA™ announced today the release of its state-of-the-art SaaS/compliance-as-a-service platforms for the financial services industry: https://crindata.com/solutions/. CRINCIDENTS™ is the first-of-its-kind business continuity and incident management platform that facilitates seamless communication and document sharing among financial institutions, their critical third-party service providers/vendors, and the regulators who are increasingly interested in overseeing these relationships. Here are the proposed regulations on financial institution’s obligations for third party incident management: https://www.federalregister.gov/documents/2021/01/12/2020-28498/computer-security-incident-notification-requirements-for-banking-organizations-and-their-bank.
Proposed Fed, OCC and FDIC guidance changes the game on financial institutions’ management of relationships with third party service providers/vendors that provide critical products and services: https://www.federalregister.gov/documents/2021/07/19/2021-15308/proposed-interagency-guidance-on-third-party-relationships-risk-management. CRINRISK™ helps institutions map and manage these relationships and helps financial institutions (and the financial services industry as a whole) identify and mitigate the remote risks, like the risks of subcontractor disruptions or cybersecurity events, to their critical systems.
“Financial institutions increasingly rely on a range of service providers to execute critical operations. While essential functions can be outsourced to third-party service providers - often involving further sub-outsourcing or sub-contracting - the responsibility for business continuity remains with the financial institution,” said Jim Freis, Chairman and Chief Strategy Officer of CRINDATA. “Structured operational risk management procedures and ongoing monitoring of the arrangements are essential for all of the financial institutions and service providers involved,” said Freis.
About Jim Freis:
Jim has devoted his career to promoting the integrity of the global financial markets. He is best known in the United States as the longest-serving Director (2007 to 2012) of the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN), overseeing regulations covering the broadest range of financial institutions in coordination with their primary licensing authorities, and for applying data-driven efforts to combat fraud exposed through the Global Financial Crisis. After FinCEN, Jim was based in Frankfurt, Germany with the Deutsche Börse Group, Europe’s largest provider of systemically significant financial market infrastructures, responsible for overseeing compliance and relations with global regulators including in the implementation of a holistic internal control system approach among Risk, Compliance, Information Security and Outsourcing oversight functions.
About CRINDATA:
CRINDATA, LLC (www.CRINDATA.com) offers unique cloud-based solutions to financial institutions who must actively manage their critical third-party relationships (including their indirect relationships with subcontractors) and must prepare for and mitigate business disruptions management and cybersecurity events originating anywhere in the chain of service providers and subcontractors. Concurrently, CRINDATA helps third party service providers like core systems, payments providers, transaction motoring solutions, banker’s banks, and corporate credit unions, by substantially simplifying the due diligence interactions with financial service companies and by providing a complaint, common platform to manage business disruptions and cybersecurity events when they occur.
Reach CRINDATA at info@crindata.com
202.990.6990
Proposed Fed, OCC and FDIC guidance changes the game on financial institutions’ management of relationships with third party service providers/vendors that provide critical products and services: https://www.federalregister.gov/documents/2021/07/19/2021-15308/proposed-interagency-guidance-on-third-party-relationships-risk-management. CRINRISK™ helps institutions map and manage these relationships and helps financial institutions (and the financial services industry as a whole) identify and mitigate the remote risks, like the risks of subcontractor disruptions or cybersecurity events, to their critical systems.
“Financial institutions increasingly rely on a range of service providers to execute critical operations. While essential functions can be outsourced to third-party service providers - often involving further sub-outsourcing or sub-contracting - the responsibility for business continuity remains with the financial institution,” said Jim Freis, Chairman and Chief Strategy Officer of CRINDATA. “Structured operational risk management procedures and ongoing monitoring of the arrangements are essential for all of the financial institutions and service providers involved,” said Freis.
About Jim Freis:
Jim has devoted his career to promoting the integrity of the global financial markets. He is best known in the United States as the longest-serving Director (2007 to 2012) of the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN), overseeing regulations covering the broadest range of financial institutions in coordination with their primary licensing authorities, and for applying data-driven efforts to combat fraud exposed through the Global Financial Crisis. After FinCEN, Jim was based in Frankfurt, Germany with the Deutsche Börse Group, Europe’s largest provider of systemically significant financial market infrastructures, responsible for overseeing compliance and relations with global regulators including in the implementation of a holistic internal control system approach among Risk, Compliance, Information Security and Outsourcing oversight functions.
About CRINDATA:
CRINDATA, LLC (www.CRINDATA.com) offers unique cloud-based solutions to financial institutions who must actively manage their critical third-party relationships (including their indirect relationships with subcontractors) and must prepare for and mitigate business disruptions management and cybersecurity events originating anywhere in the chain of service providers and subcontractors. Concurrently, CRINDATA helps third party service providers like core systems, payments providers, transaction motoring solutions, banker’s banks, and corporate credit unions, by substantially simplifying the due diligence interactions with financial service companies and by providing a complaint, common platform to manage business disruptions and cybersecurity events when they occur.
Reach CRINDATA at info@crindata.com
202.990.6990
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CRINDATA
Mark Stetler
202-990-6990
crindata.com
Mark Stetler
202-990-6990
crindata.com
Contact
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