The risk management software firm said it would distribute Trailight’s two compliance products, the Individual Accountability Regime (IAR), which is designed to comply with the Financial Conduct Authority’s (FCA) Senior Management & Certification Regime (SMCR), and People Risk Management, which allows financial institutions to manage people risk in line with regulatory rules on competence and conduct.
Keith Todd, KRM’s chief executive, said that the SMCR rules would mean firms needed an end to end compliance solution to monitor accountability across their organisation, and that they would struggle to meet the requirements using traditional “siloed and off system processes”.
“We are delighted to be partnering with Trailight on its holistic compliance offering allowing firms to confidently manage all their regulatory obligations in one place in a cost effective and efficient way.”
David McNair Scott, Trailight’s CEO, added that the company had seen a “great market reaction” and adoption of its IAR product and that its suite would help clients “stay one step ahead of the complex and evolving regulatory landscape”.
In a note, KRM's 'house' broker finnCap, which currently has its target price 'under review', said the partnership would provide "cross sales opportunities" and more products for the group's Global Risk Platform.
In early trading the shares were up 2.8% at 73.5p.
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