About La Meer Inc.
La Meer Inc. is a Silicon Valley based privately held Regulatory Technology Company (Regtech) specializing in integrated solutions for Financial Markets.
The Financial Crisis of 2008 and the resulting meltdowns have had profound negative impacts world over. Worldwide Regulations have made Consumer Protection as the fiduciary duty of every financial institution. The Dodd Frank Act in the US, the numerous regulations in UK and EU, Canada address the same theme. Data Privacy of Customer information and Cybersecurity management to protect information have become worldwide themes with the world’s dependence on Information Technology and Automation as a means of doing business. GDPR, California Consumer Privacy Act, Canadian Privacy Act, the Cybersecurity initiatives from regulators and the bills in the US Congress all address these.
Organizations are facing intense scrutiny from regulators who have equipped themselves with technology for data driven from regulatory reporting to identify high risk behavior. With Big Data initiatives that they have put in place, it has become very difficult for organizations to escape scrutiny.
All financial institutions have created huge risk management groups for addressing regulations and monitoring compliance. The cost of compliance has grown mani-fold. Inspite of the investments, organizations are realizing that their risk and compliance teams are handicapped by lack of technology, old technology, management through excel and an un-integrated set of dispersed and siloed data sets that make it impossible to monitor effectively. Throwing people on the job does not solve the problem if you do not empower them with ways of handling the voluminous work on hand. Manual way of monitoring compliance will not work anymore. Neither will a silo-ed approach where there is no single source of truth for data work.
In the mean time, Client expectations have changed with mobile delivery. New technology with Artificial Intelligence, Big data, Predictive Analysis, Machine Learning, Voice enabled systems all are changing the paradigms of information delivery. Clients want their information at the tip of their fingers to take decisions. Systems inside the organization need to integrate to deliver the information in real time.
To effectively manage clients, risk and compliance, an integrated approach to processes, systems and data management is called for.
La Meer Inc. founded in 2010 deeply understands these market challenges and changes and has built the GRACE Suite of comprehensive web based/ tablet enabled, mobile solutions to address various aspects of clients, compliance and risk management specialized for Operational risk, Compliance management, Operational Due Diligence, Client management, KYC, AML, IT Risk and Vendor Risk.
The La Meer Team comprises of people with deep subject matter knowledge and technology expertise from their extensive experience in building and implementing complex systems like the Bombay Stock Exchange On-line trading, Credit Data warehouse, Derivatives Technologies, Integrated treasury, Corporate and Private banking areas from their experiences for major corporations like Citibank, Silicon Valley Bank, and CMC Limited.
Over these years La Meer has built and refined the GRACE suite of solutions to closely align with customer needs and addressed the changing market trends and has become a leading vendor in the Regtech space.
Build on the market leading Oracle stack, requirements around availability, reliability, redundancy, resilience, data protection and data privacy are all inherent in the platform. GRACE’s modular architecture allows firms to have the benefits of a custom solution, delivered through configuration of the modules needed to suit their own requirements.
The GRACE suite incorporates best practices and requirements from the worldwide latest regulatory requirements of the Dodd Frank Act, Basel III, MiFID II, GDPR, California Consumer Privacy Act, Canadian Privacy Regulations, AML, Proposed Reg BI – erstwhile Fiduciary Rule in the US market and helps you manage the examination expectations from regulators SEC, FINRA, OCC, FCA, European and Canadian Regulators to address consumer protection that has evolved from the financial crisis.
By offering the Modular, yet “Integrated by Design” approach with easy to use workflows, in-depth charting and analytics, digitization, and straight thru integration to source systems and third-party information GRACE can help you manage your clients, institutionalize risk management, establish “Culture of Compliance” and address regulatory examinations from a Single Source of truth.
By providing the flexibility to buy the right modules and implement additional modules at your own pace, GRACE adapts to your organizational challenges and helps you implement your strategy in a controlled way. It allows you to grow without spending a lot of money in large, unwieldy implementations and costly integration of spot solutions to build your enterprise information.
GRACE streamlines client interactions through its efficient integration and provides transparency and assurance to your clients of a well run organization that they can rely on to behave in the Best Interest of the Clients.
With an easy to roll out and implementation approach, the entire ecosystem of departments, business lines, countries, clients, vendors, service providers, and internal compliance and risk, audit and governance teams can be part of your strategy to implement integrated data management, efficiency and cost savings for your organization
Empower Clients, Risk and Compliance, Client Management staff by providing them with Web/tablet/mobile enabled tools,intuitive workflows,automated alerts, detailed data analytics and above all the transparency that they need
Be able to provide transparency and assurance to clients, that they are working with an organization that will manage its risks and help clients manage theirs in good faith.
Built to address examination priorities of FINRA,SEC,OCC other multiple regulatory requirements, Cybersecurity as well as GDPR and other EU , FSA regulations, GRACE has been built to meet each area of requirement comprehensively
Early Identification, Continuous monitoring, pro-active rule based red-flagging and real-time dashboards can catch risks early and reduce mitigation cost to save reputation, regulatory fines and legal costs
Enable the creation of a single source of truth for enterprise data thru Centralized books and records management, Automating data load /API based integrations from internal, external and vendor systems