Protominds Announces New ASC 326 / IFRS 9 Automation Platform
FiNiCS helps financial institutions comply with financial instruments reporting guidelines.
NEW YORK, May 17, 2019 /PRNewswire-PRWeb/ -- Shri Raju, CEO and Co-Founder of Protominds announced yesterday at COMPLY2019 a new CaaS (Compliance-as-a-Service) platform that enables financial institutions and enterprises to comply with financial instrument reporting regulations while minimizing IT involvement and system spending. In this cloud-based platform, users easily upload and analyze their financial instrument portfolios and let the system provide full visibility into assumptions and a well-defined audit trail.
This platform--FiNiCS--will allow financial leaders to perform detailed analysis of financial instrument portfolios, slicing and dicing the data in ways that have not been automated before, empowering management with accurate data for better decision-making. Institutions and enterprises can use FiNiCS to achieve compliance with all current and future financial instrument reporting global standards, including ASC 326 and IFRS 9.
"FiNiCS is an end-to-end compliance tool unique in today's market." said Raju, "It goes beyond impairment calculations to manage classification and measurement as well as hedge accounting, giving customers a single tool capable of handling constantly-changing financial regulations." Not only can the product handle all aspects of compliance, it manages any type of financial instruments in the portfolio, making it easier to achieve and sustain compliance, analyze trends and forecast forward-looking data.
Today's announcement was made in front of participants at COMPLY2019, "The preeminent compliance, risk and regtech event," according to promotional materials. This annual conference attracts regulators, compliance and risk professionals, sales/marketing experts, innovators and legal investors from a variety of industries to discuss the Compliance, Risk and RegTech ecosystem.
About Protominds
Protominds is a forward-thinking regtech company based in California, with offices in Dallas, India and Australia, helping enterprises and financial institutions with automation, system integration and value-added expertise--across industries and around the world. Learn more about FiNiCS at http://finics.com.
SOURCE Protominds
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