By reducing manual tasks, the Azimuth GRC platform enables companies to demonstrate compliance with industry regulations at a lower cost
May 6, 2019 — Jacksonville, FL — Azimuth GRC LLC today announced the official release of its automated regulatory compliance software in its first module for the mortgage industry. The innovative Azimuth GRC platform provides organizations with an efficient way to demonstrate up-to-the-minute compliance with industry regulations while eliminating time and costs previously spent on manual compliance tasks and processes.
“Today’s lenders and servicers have a huge need for more efficient, cost-effective compliance. In fact, according to the 2019 Thompson Reuters Cost of Compliance report, more than 60 percent of companies cite compliance as a major cause behind the sharp increase in the average cost to originate and service a loan),” said Rohin Tagra, founder and CEO of Azimuth GRC LLC. “We built Azimuth GRC as a robust, enterprise-wide compliance management system to help mortgage companies lower costs while automatically staying on top of the rapid pace of regulatory change.”
Azimuth GRC is a fully configurable compliance platform that automates regulatory change management throughout any mortgage organization. Relying on the largest structured inventory of laws and regulations available in the mortgage industry, the platform identifies and categorizes laws and regulations that apply to an organization and allows the organization to assess their operational impact all in one place. By doing so, lenders and servicers are able to create a seamless connection with operations and eliminate manual compliance processes and spreadsheets, as well as reduce time previously spent preparing and responding to regulatory exams.
“Azimuth GRC creates a single source of truth throughout an organization that integrates applicable regulations into their business processes, policies and procedures,” said Sheryl Johnson, chief revenue officer at Azimuth GRC. “This allows a company to meet regulatory expectations as well as provide board reporting and operational oversight in a completely predictable, repeatable and consistent way. There is nothing on the market like it.”
The Azimuth GRC platform includes a complete library of federal and state regulations, benchmarked business requirements based upon applicable rules and regulations, and established mapping and workflow to business departments, owners and processes. The platform’s mapping and workflow modules allow companies to link their control environment to each specific business process, creating a consistent pathway from each individual statute to the organization’s specific controls. The platform also incorporates risk management through a regulatory impact assessment, pinpoints any gaps, and updates the dashboard to easily track workflow throughout the operation.
About Azimuth GRC LLC
Azimuth GRC is a Jacksonville, Fl-based regulatory technology company focused on providing innovative software solutions to heavily regulated industries and companies to help them comply with applicable laws from A to Z. Azimuth GRC provides software as a solution that automates and manages regulatory compliance and risk across an enterprise at a reduced cost. The company’s leadership has over 50 years of collective experience in financial services, regulatory compliance, risk management and information technology. For more information, please contact Sheryl Johnson at Sheryl.firstname.lastname@example.org.