KUALA LUMPUR, May 19 (Bernama) -- Legal-technology company, Quant LegalTech has released a free cloud-based version of 4 of Compliance Toolkits issued by the Monetary Authority of Singapore (MAS).
The Toolkits selected for digitisation were issued for Licensed and Registered Fund Managers, Venture Capital Fund Managers and Licensed Trust Companies, according to a statement.
The Toolkit is available on the company's cloud-based Complius(TM) platform and provides a DIY on-boarding capability where users can distribute, execute and track compliance activities throughout their organisations.
Complius(TM) has been engineered in-house with easy-to-use interfaces, customisable dashboards, and cloud-based solutions which have coalesced to enable the next generation of legal services.
“We noticed that institutions were aware of the Toolkits but had difficulty implementing them. Their main challenge was that a majority of the activities were ‘event-based’, meaning that nothing had to be done unless a particular event triggered an obligation to report to MAS,” said Quant LegalTech's Co-Founder, John Matheson.
“To simplify this, we associated events into common attributes and built a reminder system so that compliance owners would learn to identify the events that trigger notifications.”
The Digitized Toolkits are aimed at small offices which typically do not have a full-time compliance officer and are looking for automation tools to stay on top of their obligations.
Although the Toolkits are free for the first 12 months. One of the main advantages of using compliance automation is that compliance practices are habit forming and once they become engrained, institutions become stronger.
The Toolkits can be found at https://quantlegaltech.com/sg.
-- BERNAMA
No comments:
Post a Comment