Compliance and risk management provider Opus has launched a new platform aimed at assisting firms with meeting anti-corruption obligations.
Hiperos 3PM is designed to simplify the process of complying with regulations around corruption and bribery with an automated workflow. It also offers risk data through a partnership with anti-corruption, fraud, and anti-money laundering data provider C6 Intelligence.
The company said the growing international businesses of companies mean there is more corruption risk exposure, particularly from third-party networks. Regulations such as the United Kingdom’s Bribery Act, which holds businesses responsible for any acts of bribery committed by partners, as well as the Foreign Corrupt Practices Act of the United States, require firms to keep close tabs on how their third-party providers conduct business in other countries.
Lee Kirschbaum, senior vice president and head of product, marketing and alliances at Opus, says the solution is designed to help clients identify risks quickly.
“With the new anti-bribery, anti-corruption solution, we offer clients a pre-configured workflow and features designed specifically to address bribery and corruption risks,” says Kirschbaum. “Leveraging the Hiperos Accelerator the solution provides an out-of-the-box implementation.”
He adds the platform offers eight areas of risk assessment, pre-built questionnaires, risk screening against data from C6 and reports that allow ongoing monitoring of third parties.
Also: Trading Technologies is developing an OMS for the sell side and Orbital Insight is embracing a platform-as-a-service model.Subscribe to Weekly Wrap emails
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