Birlasoft Announces Dodd Frank Act Compliance Consulting Services

2011-08-18 18:54 991

EDISON, N.J., August 18, 2011 /PRNewswire-Asia/ -- Birlasoft, the global IT services arm of the multi-billion dollar C K Birla Group, today announced its offerings in Dodd Frank Act compliance consulting space. Since the law was published in 2010, Birlasoft's setup a domain led competency to carry out comprehensive research and thought leadership for organizations grappling to understand and respond to the law's still evolving technology requirements. As a first step, Title VII which includes guidelines around Swap Data Repository, trade recordkeeping and reporting has been a major focus area.

"The Financial Crisis of 2007-2010 has led to wide-spread changes in the Regulatory and Compliance landscape in Capital Markets industry. In my past experience at DTCC, we were a vanguard in helping firms to support some of the reporting requirements planned for under the Dodd Frank Act. We always looked for partners that share our vision and are willing to be part of the journey bringing their competency, flexibility and agility to the table. I am happy to see Birlasoft develop as a mature and strong player in the GRC space" said William B Aimetti, Strategic Advisor, Birlasoft.

The Dodd Frank Act will make proprietary traders, mortgage origination firms, hedge funds, consumer banks, insurance companies, broker-dealers and asset managers more regulated than ever before in Wall Street. IT systems will require fundamental changes to the architecture of their underlying applications. They will also have to be geared to address concerns around data aggregation, improving data integrity and quality.

Birlasoft's Dodd Frank Act compliance consulting offering will give another tool to IT Leaders and their business counterparts to prepare in advance, enabling higher levels of regulatory requirements, effectively utilizing their resources - allocating budgets to meet their compliance obligations.

"Our depth and breadth of knowledge capital combined with our extensive experience positions Birlasoft as a credible player in GRC space. Our solution framework for SDR allows our customers to rapidly develop capability to address Dodd Frank regulation while effectively leveraging their existing IT investments into compliance solutions. With this offering we believe we can add significant value to our customers and join hands in building a more stable financial environment" said Lalitha Kompella, Senior Vice President, Banking & Financial Services Business, Birlasoft.

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About Birlasoft

Birlasoft, part of 150 year old multi-billion dollar CK Birla Group, enables clients in Banking & Financial Services, Insurance and Manufacturing industry, to become competitive in their business by providing value-based information technology services, in onshore, offshore and near-shore models.

Source: Birlasoft