Gieom Business Solutions Private Ltd (Gieom), a global leader in Operational Resilience, Governance, Risk and Compliance (GRC) technology solutions, has announced a strategic partnership with Alpha FMC, a leading global provider of specialist consulting services to the financial services industry.
The combination of Gieom’s DORA 360 platform with Alpha FMC’s consulting expertise equips financial services firms with the technology and proficiency to accelerate their Digital Operational Resilience Act (DORA) implementation and ongoing compliance across all five pillars of DORA. Gieom’s platform can also be expanded to encompass other regulatory frameworks including NIST, ITIL, the UK Operational Resilience Framework and Australia’s Prudential Standard CPS 230. This added breadth, together with Alpha FMC’s global reach, enables the partnership to extend beyond DORA.
The partnership offers a significant acceleration and assurance in the delivery of DORA compliance that is proportional and tailored to the firm’s own business model. The DORA 360 platform, powered by Gieom’s advanced Operational Resilience and Risk Management technology, provides ready to use solutions which enable the ongoing compliance of DORA that can be deployed on-premise, on private cloud or as a SaaS solution. By utilising smart automations and Artificial Intelligence (Magpie AI), DORA 360 processes vast amounts of data at high speed, allowing for rapid assessment and continuous resiliency monitoring. The DORA 360 platform therefore enables firms to quickly and accurately conduct gap analyses, identify vulnerabilities and implement necessary changes. This efficiency is further enhanced by Alpha FMC’s deep understanding of the financial services industry and operating models, deep expertise in DORA and Operational Resilience, and experience implementing and embedding GRC technology solutions across the globe.
This partnership between Gieom and Alpha FMC is poised to set a new industry standard, enabling clients to meet the January 2025 deadline in a proportionate manner while future-proofing the business for ongoing DORA compliance.
John Santhosh, CEO at Gieom, said: “In creating DORA 360 our aim was to make it as quick, easy and seamless as possible for financial entities and their ICT service providers to comply with the DORA regulation. Traditional methods of conducting gap analyses are proving ineffective in addressing the nuances of DORA, especially Pillar 4 ICT third-party risk assessments. Our clients use DORA 360 to fully-digitise and automate their gap analysis and will now be able to leverage Alpha FMC’s vast expertise in asset and wealth management to create and deploy effective, defensible DORA compliance strategies.”
Bernardo Castel-Branco, Head of the Risk & Regulatory Compliance Practice in the UK and Europe at Alpha FMC, commented: “Financial entities are increasingly concerned about the sheer volume of work required under DORA combined with the complexity of the requirements. In order to implement requirements effectively and efficiently, firms should be seeking to leverage AI-driven technologies such as Gieom in order to demonstrably meet the January 17th deadline and beyond. This partnership with Gieom combines the cutting-edge technology of DORA 360 with Alpha’s unique industry and regulatory expertise, elevating our ability to support clients in meeting this complex and time-critical regulation. Together, we can help out clients – and the entire sector – navigate the challenges of DORA compliance in a timely and proportional manner”.
Media contact:
Nicola Cowburn
contact@dora360.ai
www.gieom.com
www.dora360.ai
About Gieom
Gieom is a leading provider of Generative AI-powered RegTech solutions, including Process and Policy Digitisation, Operational Risk and Resilience, and Digital Identity Verification. Gieom has also created customised templates that accelerate interpretation and compliance with upcoming regulations, including UK’s Operational Resilience Act, Europe’s Digital Operational Resilience Act (DORA) and Australia’s CPS 230 to name a few. Gieom’s Operational Risk and Resilience Platform and DORA 360 can support multiple current and upcoming standards, regulations and best practice frameworks. Headquartered in Bengaluru, India, Gieom has operations and 100+ customers in Europe, the Middle East and Asia Pacific.
About Alpha FMC
Alpha Financial Markets Consulting is a leading global provider of specialist consultancy services to the financial services industry. Our team of 1000+ consultants, operating from 17 client-facing offices spanning the UK, North America, Europe and APAC, work around the globe to help our clients solve their business, operational and technology challenges.
