Compliance & Regulation

eFront releases banking/insurance platform

The private equity and alternative investments software provider has launched the FrontGRC 4.0 suite, which helps facilitate detailed analysis of risk indicators and deal with changes to regulations and requirements in the banking, insurance and mutual insurance sectors.

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eFront, which provides business software to private equity and alternative investment firms, is launching a new version of its FrontGRC platform dedicated to managing risk and compliance processes in the banking, insurance and mutual insurance sectors.

The new 4.0 version of the suite integrates a FrontGRC Performance solution which produces visual reports that can be used to consolidated and analyse risk indicators. For instance, the FrontGRC Risk solution now includes a versioning function which facilitates the traceability and auditability of all data used in a risk map, enabling close monitoring of changes in risk indicators.

By making it possible to browse in previous versions, the solution provides more detailed analysis and monitoring of internal methodologies and a real-time view of the operational risk reference framework. The generation of COREP-type activity reports is also integrated in the solution, helping ensure compliance with the objectives of the Basel II directive.

In addition, the The FrontGRC Document solution now offers a “drag and drop” function, which enables collaborative management of all documents via Windows Explorer, while a Gantt schedule has been added to the crisis management exercise module of the company’s FrontGRC Continuity solution, offering a more detailed view of the procedures and tasks to be carried out in a crisis simulation situation.

eFront said in a statement that the new version has been designed to account for changing regulations and requirements in the banking and insurance sectors. In January the company and Cougar Software also announced they were partnering on an integrated real estate forecasting, portfolio monitoring and investor management platform, in part to deal with changes as a result of the financial crisis and advent of IFRS and GIPS.

In February eFront also opened a Montreal office to focus on private equity and real estate investment in Canada, part of its expansion in North America that has included the opening of a New York office in 2009.