Introducing Beacon - our governance, risk and compliance system

Introducing Beacon - our governance, risk and compliance system

Cyan Regulatory are delighted to announce they have entered into a partnership with award-winning software providers Decision Focus and have developed a comprehensive governance, risk and compliance management system called Beacon.

Using the full range of the expertise within the Altair Group, Beacon has been designed by compliance experts Cyan Regulatory alongside governance specialists Altair Directors to generate significant efficiencies within risk and compliance teams, reducing the amount of time spent on administration and eliminating reliance on multiple spreadsheets.

Beacon includes a suite of customisable compliance framework documents, a risk library, a control library, a legal and regulatory library, registers and management reports for both corporate and client entities. With just a few clicks, users can create a business risk assessment, monitoring plan and control tests that fit the regulatory regime and the risks facing their business. Linkages connect documents so they can be updated simply and quickly and built-in workflows and audit trails maintain full records throughout.

Beacon capitalises upon Decision Focus’s longstanding track record in managing governance, risk, compliance, and audit within the financial and insurance sectors.  In addition to board-ready reporting, action initiation and tracking, targeted notifications, and workflow logic, its no-code configuration makes it instantly configurable with a rapid learning curve for end-users.  

'Decision Focus are incredibly excited by the partnership we have opened with Cyan Regulatory. Leveraging our existing technology set and combining this with Cyan's expertise in the Channel Islands means we can offer a truly innovative product. Beacon enables firms to manage compliance obligations with technology that addresses their regulatory requirements directly, creating huge efficiencies, improving oversight and ultimately saving spiralling costs' said CEO of Decision Focus, Jon Tollerup.

Cyan Regulatory’s Nicola Crowell said, “After working to develop and refine the Beacon system for more than 18 months, we are delighted to announce its launch. In our work supporting the finance industry, we see the pressures that businesses and their personnel face and we are confident that Beacon will be of great benefit in removing time-consuming admin and allowing compliance personnel to focus on value-added work whilst demonstrably fulfilling their responsibilities. RegTech systems such as Beacon will play an important role in enabling businesses to remain cost-effective in a very competitive market.”

While Beacon was designed initially with Jersey in mind, the system can be tailored for any and multiple jurisdictions and can also allow visibility and control of compliance across global organisations. Beacon can also be tailored to companies of all sizes, with multiple delivery options available.

There are a growing number of compliance platforms becoming available as RegTech becomes more accepted, but the sheer range of features and flexibility underpinning Beacon’s design is its key strength, ensuring companies get a system which meets their needs precisely.  Altair CEO Ian Lambert said, “As expert independent directors, Altair is highly focussed on providing excellence in corporate governance. The reporting features and richness of data Beacon can provide to decision makers is outstanding. We feel that Beacon has the capability to help financial services companies not only provide excellent compliance services, but to go further and show their compliance function as a service which sets them apart from their competitors.”

Beacon is now available for demonstration. Download the brochure here or to book a demonstration, please email info@altair.je or speak to your usual Cyan / Altair contact.