Executive Summary
Sunnyvale CA – March 25th, 2021 Silicon Valley, CA Financial Technology firm La Meer Inc (https://www.lameerinc.com) wins the A-Team Innovation Award 2021 for “Most Innovative Supply Chain Risk Management/ Know your Vendor Initiative” for its GRACE Vendor Risk solution. This adds to La Meer’s recognition in RegTech Analyst’s prestigious 2021 ‘REGTECH100’ list, forexcellence in delivering compliance and risk management capabilitiesto the industry.
La Meer Inc. (www.lameerinc.com) offers the GRACE suite of cloud based web-tablet-mobile solutions for financial institutions across the globe, encompassing Enterprise GRC, Compliance management, Client management for Reg BI and MIFID II, Trade monitoring, KYC/AML monitoring, IT GRC, Vendor Risk, SM&CR and Operational Due Diligence.
Cybersecurity and data governance over client data, whether they are being managed within in-house IT systems or outside with vendors pose a very significant area of concern for SEC, FINRA, FCA, EU and other regulators especially after the SolarWinds Hack which proved how vulnerable large and small organizations can be. Data Privacy regulations and Cybersecurity Risk alerts from regulatory agencies emphasise the need for proper IT and Vendor Risk Management processes within the organization and will be examined very rigorously in the coming months.
“Vendors have become critical repositories of a firm’s data as part of their outsourced services and Cybersecurity, Data Privacy and Business Continuity Management within vendor organizations and non-adherence to defined compliance processes could become major risks, especially due to work from home model due to the pandemic and inability for proper oversight over vendor personnel and processes. Knowing your vendor and ensuring they have and follow the mandated processes for security of your firms’ data and Data Privacy regulations are an absolute must”, said Laxmi Ramanath, CEO at La Meer Inc. GRACE helps firms keep track of the what, where, why and how of their data, whether it be in-house or with vendors, to identify, mitigate and monitor risks on an ongoing basis to minimize the potential for losses, regulatory fines and reputation damage.”
Angela Wilbraham, CEO of the A-Team Group, who hosted the A-Team Innovation Awards 2021, commented “There are incredible innovations in the world of capital markets data and technology. Our A-Team Innovation Awards 2021 were created to celebrate and reward those companies at the forefront of innovation within our industry.
We congratulate La Meer Inc. in winning the Most innovative supply chain risk management / Know Your Vendor initiative award in recognition of their excellence in driving forward progress in capital markets capabilities.”
About GRACE
La Meer is proud to be recognized for our innovative approach and commitment. Our focus is to help financial firms to streamline, manage and enhance Regulatory Compliance, Data Governance and Cyber security across the enterprise through end-to-end workflows, alerts, data management, reporting, and real time dashboards. GRACE is helping our customers to continue managing their risks effectively despite their employees having to work from home due to the pandemic. We are pleased that our solutions have helped Banks, Broker-dealers, Wealth advisors, Hedge funds, Asset Management, Pensions and other financial organizations in these difficult times.
La Meer’s GRACE Integrated IT and Vendor Risk Management solutions guide organizations to set up their processes using industry frameworks like NIST, ISO, COBIT and ITIL. Organizations will be able to benchmark themselves against best practices to identify the gaps in their processes and address them before they become a risk to the organization.
GRACE Integrated IT and Vendor Risk Management solution helps you build your data inventory, set up your policies and procedures, conduct online training of the staff, ensures they attest their commitment to security management processes.
It can help you conduct online risk assessments, gather information on vendors, SLAs, contracts and ensure controls monitoring to identify issues early, conduct vendor due diligence, as well as conduct ongoing vendor due diligence in a very organized and periodic manner.
Our GRACE solution encourages full transparency and provides Vendors and internal staff the ability to report on any incidents online. Incident management can be conducted with task allocations captured in GRACE to ensure that remediation completed. The inventory of data can help quickly understand the extent of data compromise by the incident and help report to regulators
The GRACE solution suite offers comprehensive functionality specifically built to address regulatory needs in the financial segments of banking, asset management, capital markets, and institutional investments . Built on the market leading Oracle stack ensures that 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.
To learn more about our GRACE IT GRC and Vendor Risk solution, please visit us at https://lameerinc.com/grace-it-risk-data-privacy-management/ and https://lameerinc.com/grace-vendor/ or write to us for a demo at info@lameerinc.com
About La Meer Inc.
La Meer Inc., founded in 2010, is a Silicon Valley firm that offers reasonably priced, versatile scalable, secure systems that can help firms meet their today’s immediate need with its modular yet integrated systems and grow to meet the enterprise need at their own pace. Today La Meer is present in the US, Canada, UK and the EU and Singapore, servicing clients throughout North America, Europe and Asia Pacific.
Our team comprises of people with deep subject matter knowledge and technology expertise in financial market regulations. Our experiences include working for major corporations including Citibank, Silicon Valley Bank, Deloitte and RBS.
Press Contacts
For more information please contact
Laxmi Ramanath – laxmi@lameerinc.com
Matt Elton – Matt.Elton@lameerinc.com
Deepak Sekhri – Deepak.Sekhri@lameerinc.com
