Press Release: Quarter 3 2020
Trailight continues to see strong growth across business lines.
Despite the continued difficult global conditions resulting from the Coronavirus pandemic, Trailight is proud to say we are still operating as business as usual and see continued growth within the marketplace.
The increasing maturity of SM&CR has further highlighted a need for firms to manage their requirements more efficiently, especially due to factors including the greater reliance on collaboration tools needed to facilitate the move towards remote working. SM&CR is still an increasingly relevant topic amongst financial services companies especially with these firms being subject to upcoming deadlines such as the extension of the Conduct Rules and Directory submissions to 31st March 2021.
Given the global market conditions, Trailight is delighted to announce that it has closed new contracts across 3 banks, 3 asset managers, 1 private wealth and 1 insurer in Q3. The addition of 20 legal entities managed by Trailight’s IAR platform consolidates its position as the leading solution for SM&CR management in the marketplace.
The focus on competence that the regulator continues to drive has also resulted in significant growth for our PRM platform. PRM focuses on helping our customers to manage all elements of staff performance and providing a centralised solution for managing competence and people risk. This platform now manages 11,000 users across some of the UK’s largest banks and wealth managers.
David McNair Scott, CEO of Trailight, said “Despite difficult and uncertain times I am delighted that our focus on delivering best in breed capability to help our customers manage the complex regulatory requirements around people, competence, conduct, accountability and governance continues to pay off. Our success across the spectrum of Financial Services demonstrates the value of building our solutions from the ground up and without stinting in breadth and depth”.
Trailight is a leading software provider that has been dedicated to solving regulatory challenges surrounding accountability and people risk for Financial Services firms for the last 25 years. We have built flexible workflow capability within best practice frameworks, with the goal of enabling customers to meet the required regulatory outcomes by making accountability, risk mitigation, competence and conduct transparent for both internal and external stakeholders.
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