NeoRM were looking for an improved governance platform that was flexible for a range of middle market customers, whose options included: manual spreadsheets that were static and undefined, where knowledge is easily lost with movement of people, or complicated e-tools which analyse data inputted but did not deliver governance or attestation.
They realised what was needed was a state of art system that could tell the head of any organisation who was doing what, where the accountability lies and have transparency around the regulatory requirements.
NeoRM wanted to build an attestation tool to manage process and workflow. The system needed to be nimble and easy to configure, with high levels of security to satisfy the financial regulations and adaptable to any organisation.
The Virtual Forge delivered a platform that is currently being piloted by three reputable alpha clients. Alongside the platform is a front end website which acts as the lead generator for the business, it also has a CMS system that allows the client to update the website. The final NeoRM SaaS platform is an open business intelligence framework which enables responsible parties to detail control procedures, validate governance methodologies and articulate day-to-day activities controlling inherent business risks all while satisfying compliance management requirements.
As a premium business partner, The Virtual Forge used Amazon Web Services to host and deliver the NeoRM solution. This was one of the few platforms available to comply with financial regulatory services for securities. Utilising AWS provides numerous value for NeoRM, such as:
AWS is already being used by world leaders such as Netflix who account for one third of internet traffic during peak periods. The product is now being rolled out into the market, primarily to Financial services and the Capital market, then into the Payment Card Industry.