Peppermint Platform delivers COFA and COLP toolset

Peppermint Technology has unveiled its COFA and COLP toolset which delivers continuous risk management and reporting tools as part of the Peppermint Platform.  As firms are getting ready to nominate their compliance officers as part of the new outcomes focused regulation approach from the SRA, they should also look at the tools around to help meet the regulatory demands.  Unlike other standalone or bolt-on risk solutions the Peppermint Platform manages risk directly from a central business platform therefore intelligently identifying and managing risks as the business changes.
Risk is different for every firm and the idea behind OFR is that risk management doesn’t become a prescribed box-ticking exercise.  As the business and market changes, business risks will also change and evolve.  To effectively manage risk, firms need to be able to track every piece of business data.  Firms need to be able to use the data to intelligently and proactively analyse emerging trends or anomalies.  
Firms should be cautious not to rush into a decision about which technology program to use to help with compliance, which may be tempting as the SRA deadlines approach.  It is important to think about what technology is best fit for the firm.  Firms should ensure that they can report easily and quickly on any data, then tailor a report or dashboard to capture and present potential risks.  
Within the Peppermint Platform every piece of data, communication, task or action can be accessed and reported on in real time.  Exception alerts and appropriate actions can be set against defined business criteria to quickly highlight risk to the appropriate people.  COFA and COLP dashboards present relevant risk information in an easy to digest format.  This makes it easier for the firm to continuously track risks while also benefitting from identifying trends and opportunities.
Arlene Adams, CEO of Peppermint comments:
“If you look at mature markets where regulation and risk management are more advanced, then companies have a holistic approach to risk management.  The same systems that can report risk can be turned into business advantage to identify trends and opportunities, which is why having a data strategy is the right place to start.
“With the Peppermint Platform firms have access to inbuilt reporting tools that can surface any data and report on any risk but equally provide intelligence that can help firms grow and thrive.”
Today’s Conveyancer — bringing you the latest conveyancing news and updates.
Do NOT follow this link or you will be banned from the site!
X