Digiterre launches the Communica Compliance Engine

Chris Hamblin

9 November 2015

The "Communica Compliance Engine" can be integrated with various customer relationship management (CRM) systems, including Digiterre's own. The idea is to have to capture client- or investor-related data only once. After that, according to Digiterre, it can be used in many regulatory processes and jurisdictions, perhaps for FATCA, KYC, the AIFMD, MIFID II or any of the myriad of regulatory compliance initiatives that are taking place around the globe.

The software allows the financial firm that buys it to re-use data captured as part of one process and use it again in others, thereby saving time and data input errors. The software vendor is placing special stress on the need for an audit trail in various European Union laws, notably the Alternative Investment Fund Managers' Directive. Digiterre was established in 2000 and its list of clients is illustrious.

The new software consists of the following four elements:

some software to design different regulatory compliance processes;
easy data capture, for gathering the required information relating to clients, investors and relevant third parties;
a compliance portal where the compliance team can review the captured information to decide whether the investor fits the right criteria; and
reporting dashboards to show the status of the relevant processes.

The software is fully auditable and is available in the secure Communica Cloud or on the client-firm's premises.