Hydra for financial services, example applications:
Audit and Compliance for Solvency II and general compliance.
Section 404 of the Sarbanes Oxley Act of 2002 requires management and the external auditor to report on the adequacy of the company's internal control on financial reporting (ICFR). This is the most costly aspect of the legislation for companies to implement, as documenting and testing important financial manual and automated controls requires enormous effort.
Use Hydra to manage your controls against your technology and business assets and processes with full audit, maker-checker and dashboard to know exactly where you are with SOX in real-time.
Know Your Customer (KYC)
Know Your Customer processes are also employed by companies of all sizes for the purpose of ensuring their proposed agents', consultants' or distributors' anti-bribery compliance. Banks, insurers and export credit agencies are increasingly demanding that customers provide detailed anti-corruption due diligence information, to verify their probity and integrity.
Use Hydra to manage your KYC controls against your client onboarding to record credentials, legal and evidential documents and record them with full audit, maker-checker and dashboard to know exactly where you are in real-time.
Use Hydra to record and manage your PCIDSS compliance security controls across your complete inventory.