Misys, a provider of application software, has launched version 3.5 of its Eagleye, a proactive monitoring solution to help prevent losses, improve operational efficiency and prevent breaches of risk policies.
Eagleye version 3.5 includes a new monitoring solution that can be called by front-office applications to conduct pre-deal checks and ‘what-if’ analyses, strengthening firms’ ability to create preventative or predictive controls. The new version builds on tools which help define, evaluate, monitor, alert, report and manage exceptions to business definable rules based on any data, and allow them to manage by exception and improve operational efficiencies to reduce costs, said Misys.
Eagleye helps mitigate operational risks associated with running multiple monitoring functions and reduces manual processes that are heavily reliant on the use of spreadsheets by conducting monitoring proactively and automatically across the whole business on a single platform. It also provides firms with a platform to effectively monitor compliance with internal risk policies and obligations to existing and new regulations, added Misys.
Chris Leong, operations director of Eagleye at Misys, said: With new tough regulations imminent, the question is: how will financial institutions respond to the monitoring and control challenge? Without question, transparency and better traceability, reduced costs in monitoring and controls, and increased agility when it comes to meeting regulatory demands will all be key. Essentially this solution is all about reducing latency and getting the right information to the right person at the right time.