Governor Software Wins Agile Category in the Grant Thornton UK LLP RegTech Awards
Governor Software Wins Agile Category in the Grant Thornton UK LLP RegTech Awards,
London, 2 October 2019
A key goal of firms is to develop a mature approach to Governance, Risk and Compliance (GRC) that measures and understands risk and compliance in the context of clear objectives and obligations.
Grant Thornton UK LLP in conjunction with The Disruption House, conducted research recently to evaluate and review RegTech companies and their ability to meet the challenges presented by the ever changing and complex world of Risk and Regulation for financial firms in the UK.
Grant Thornton found that organizations often take a Band-Aid approach and manage risk and compliance in disconnected silos instead of thinking of the bigger picture. Siloed processes, though effective in their own area, are ineffective at an aggregate level, as the organization does not have a complete view of their risks and obligations across the firm. This can make it difficult for boards and senior management to understand their current and historical status.
In the context of researching Governor Software, the Grant Thornton RegTech index team found the Governor Software solution enables organisations to understand, map, and monitor the complex interrelationship of risks, objectives, regulations, and metrics across an organisation. Governor Software addresses this by aggregating, integrating, and visualizing risk and performance information across an organisation within a single platform, allowing it to be managed from one central location and ultimately ensuring accountability.
“In judging this category, we found that Governor’s oversight technology can help financial firms with some of their most challenging risk and regulatory issues such as manually intensive, inefficient and ineffective reporting processes” David Royle, Partner, Financial Services Practice, Grant Thornton UK LLP “Governor Software’s ability to provide Financial Firms with true oversight across Risk and Compliance placed them as a RegTech stand out in this category".
“We are very pleased to have won this award. The Governor Software Solution has been devised and developed by people working within the financial industry, facing real oversight issues. Governor Software has been designed to solve these issues” states Richard Pike, CEO, Governor Software “Winning such awards helps us to confirm that there is a real need for this type of solution”.
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About Governor Software
With offices in Dublin, London and New York, Governor Software Ltd supports senior risk and compliance executives at financial institutions maintain governance and oversight through clear visualisation of their regulatory obligations and risk appetite.
Founded in 2015 by CEO Richard Pike, the Governor Software team have first-hand experience of the production and oversight of governance information within financial institutions. Empowered with this unique knowledge, Governor Software have taken a fresh approach to addressing these challenges; using visualisation technology to efficiently tackle the issues associated with governance and oversight in their entirety.
Governor Software believe the opportunity for compliance and risk professionals to make governance and oversight a more robust and effective process is significant.